Company: LBRDK
Filing Date: 2025-01-22
Form Type: DEFM14A
Source: 0001140361-25-001609
Chunk: 347

Company: Liberty Broadband Corp
Filing Date: 2025-01-22
Form: DEFM14A
Chunk 347
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 that a corporate officer or director generally may not take a business opportunity for his or her own if: (i) the corporation is financially able to exploit the opportunity; (ii) the opportunity is within the corporation’s line of business; (iii) the corporation has an interest or expectancy in the opportunity; and (iv) by taking the opportunity for his or her own, the corporate fiduciary will thereby be placed in a position inimical to his duties to the corporation.                                             |
| Liquidation and Dissolution |     | The Liberty Broadband certificate of incorporation provides that upon Liberty Broadband’s liquidation, dissolution or winding up, after payment or provision for payment of the debts and liabilities of Liberty Broadband and subject to the payment in full of the preferential or other amounts to which any series of preferred stock of Liberty Broadband are entitled, holders of shares of Liberty Broadband Series A common stock, Liberty Broadband Series B common stock and Liberty Broadband Series C common stock will share equally, on a share for share basis, in the assets of Liberty Broadband remaining for distribution to the holders of shares of Liberty Broadband common stock. The Liberty Broadband certificate of incorporation provides that, subject to the rights of the holders of any series of preferred stock of Liberty Broadband, the affirmative vote of the holders of at least 66-2/3% of the total voting power of the then outstanding shares of Liberty Broadband Series A common stock, Liberty Broadband Series B common stock and Liberty |     | The Charter certificate of incorporation provides that in the event of any dissolution, liquidation or winding-up of the affairs of Charter, whether voluntary or involuntary, after payment or provision for payment of the debts and other liabilities of Charter and after making provision for the holders of any series of preferred stock of Charter entitled thereto, the remaining assets and funds of Charter, if any, shall be divided among and paid ratably to the holders of the shares of Charter Class A common stock and Charter Class B common stock treated as a single class. |

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TABLE OF CONTENTS

|                              |     | Rights of Existing Liberty Broadband Stockholders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |     | Rights of Charter Stockholders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|                              |     | Broadband preferred stock entitled to vote thereon, voting together as a single class, is required to take any action to authorize the dissolution of Liberty Broadband; unless at least 75% of the Liberty Broadband Board then