Company: LBRDK
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001140361-25-000778
Chunk: 328

Company: Liberty Broadband Corp
Filing Date: 2025-01-10
Form: PRER14A
Chunk 328
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As of the date of this joint proxy statement/prospectus, Charter does not have any outstanding shares of preferred stock. In connection with the combination, Charter will issue shares of newly issued Charter rollover preferred stock to holders of shares of Liberty Broadband preferred stock with terms substantially identical to those of the Liberty Broadband preferred stock and set forth in the Charter certificate of designations, as summarized in “Description of Charter Rollover Preferred Stock.” Other Provisions of the Charter Certificate of Incorporation Board Size and Nomination Rights The Charter certificate of incorporation provides that the number of directors that constitute the entire Charter Board is fixed at 13, and A/N and Liberty Broadband (each, an “ investor party”) have the following board nomination rights (subject to the limitations set forth in the existing stockholders agreement):

| • | three director nominees, if such investor party’s equity interest or voting interest in Charter is greater than or equal to 20%; |

| • | two director nominees, if such investor party’s equity interest and voting interest in Charter are both less than 20% but such investor party’s equity or voting interest is greater than or equal to 15%; |

| • | one director nominee, if such investor party’s equity interest and voting interest in Charter are both less than 15% but such investor party’s equity or voting interest is greater than or equal to 5%; and |

| • | no director nominees if such investor party’s equity interest and voting interest in Charter are both less than 5%; |

provided, A/N will be entitled to nominate two director nominees if it owns an equity or voting interest in Charter of 11% or more. Certain Decisions by the Charter Board The Charter certificate of incorporation provides that:

| • | the Charter Board must act by majority vote of the full board, subject to the following: |

| • | for so long as A/N or Liberty Broadband has a voting or equity interest in Charter equal to or greater than 20%, any change of control of Charter will require the approval of (i) a majority of the full Charter Board and (ii) a majority of the unaffiliated directors (which is defined to mean directors not appointed by A/N or Liberty Broadband); |

| • | any transaction involving either A/N or Liberty Broadband or their respective affiliates or associates and Charter (with limited exceptions) or any transaction in which A/N or Liberty Broadband (or any of their respective affiliates or associates) will be treated differently from the holders of