Company: LBRDK
Filing Date: 2025-01-17
Form Type: PRER14A
Source: 0001140361-25-001417
Chunk: 290

Company: Liberty Broadband Corp
Filing Date: 2025-01-17
Form: PRER14A
Chunk 290
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, and Liberty Broadband must comply with certain standstill restrictions that prohibit it from acquiring shares of Charter in excess of such ownership cap.

The stockholders and letter agreement amendment provides that Liberty Broadband will be exempt from the standstill restrictions and the ownership cap under the existing stockholders agreement to the extent its ownership in Charter exceeds such ownership cap solely as a result of the repurchase provisions in the stockholders and letter agreement amendment.

If the merger agreement is terminated prior to completion of the combination, Liberty Broadband’s ownership cap under the stockholders agreement will be reset at the greater of (i) Liberty Broadband’s equity interest at the time of such termination, and (ii) the voting cap applicable to the Liberty Parties (as defined in the existing stockholders agreement), and Liberty Broadband will not be required to dispose of any excess shares accumulated during the pendency of the combination above the current ownership cap.

#### Voting Cap
Under the existing stockholders agreement, Liberty Broadband is subject to a voting cap, which is currently equal to 25.01% and is calculated in the manner set forth in the existing stockholders agreement, and Liberty Broadband is required to vote any of its shares of Charter Class A common stock in excess of such voting cap in the same proportion as all other votes cast with respect to the applicable matter (excluding votes cast by A/N and certain other persons), except for certain Excluded Matters (as defined in the existing stockholders agreement).

The stockholders and letter agreement amendment provides that, during the pendency of the combination, Liberty Broadband will vote any of its shares of Charter Class A common stock that exceed the voting cap in the

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#### TABLE OF CONTENTS
same proportion as all other votes cast with respect to the applicable matter (excluding votes by A/N and certain other persons), including with respect to any Excluded Matters.

#### Board Committees
The stockholders and letter agreement amendment provides that all decisions of Charter or the Charter Board directly or indirectly related to the transactions contemplated by the merger agreement will be subject to the direction and approval of the Charter special committee, including decisions regarding the application, interpretation, enforcement, waiver or amendment of the merger agreement or any other transaction document, any decision with respect to share repurchases or cash flow impacting budgets, any decision with respect to any matter that would require a waiver under the merger agreement or any other transaction document, and any decision that would have a material impact on any right or decision under the merger agreement or any other