Company: LBTYK
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001570585-25-000021
Chunk: 158

Company: Liberty Global Ltd.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 9C
Chunk 158
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December 31, 2024, 2023 and 2022

of outstanding equity awards before and after the Sunrise Distribution. Due to declines in the prices of our Liberty Global Class A and Class C common shares following the Sunrise Distribution, an adjustment factor was applied to our outstanding options, SARs, PSARs, PSUs and certain of our RSUs to increase the number of awards outstanding and, in regards to our outstanding options, SARs and PSARs, decrease the strike or base price. This adjustment factor utilized the volume-weighted average price of the respective shares for one day prior to and one day following the Sunrise Distribution. The impacts of the Award Modifications and the Spin-off are separately presented in the below tables.Share-based Award Activity — Liberty Global Common SharesThe following tables summarize the share-based award activity during 2024 with respect to awards issued by Liberty Global. Our company settles SARs and PSARs on a net basis when exercised by the award holder, whereby the number of shares issued represents the excess value of the award based on the market price of the respective Liberty Global shares at the time of exercise relative to the award’s exercise price. In addition, with respect to share-based awards held by Liberty Global employees, the number of shares to be issued upon vesting or exercise is reduced by the amount of the employee’s required income tax withholding.Options — Class A common sharesNumber of awardsWeightedaverageexercise priceWeightedaverageremainingcontractualtermAggregateintrinsic  value   in yearsin millionsOutstanding at January 1, 2024622,177 $28.87 Granted114,799 17.01 Forfeited(67,247)33.50 Outstanding at November 12, 2024669,729 26.37 Impact of the Award Modifications490,267 (11.14)Outstanding at December 31, 20241,159,996 $15.23 4.7$0.9 Exercisable at December 31, 2024867,302 $16.96 3.2$0.1 Options — Class C common sharesNumber of awardsWeightedaverageexercise priceWeightedaverageremainingcontractualtermAggregateintrinsic  value   in yearsin millionsOutstanding at January 1, 20242,704,383 $24.79 Granted462,858 17.49 Forfeited(134,230)