Company: LBRDK
Filing Date: 2025-01-17
Form Type: PRER14A
Source: 0001140361-25-001417
Chunk: 234

Company: Liberty Broadband Corp
Filing Date: 2025-01-17
Form: PRER14A
Chunk 234
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 appropriate and proportionate adjustment will be made to the merger consideration, exchange ratio and any other similarly dependent items, as the case may be, to give Charter and the Liberty Broadband stockholders the same economic effect as contemplated by the merger agreement prior to such event.

At the effective time, all excluded treasury shares will be cancelled and will cease to exist and no Charter Class A common stock or Charter rollover preferred stock or other consideration will be delivered in exchange therefor.

After the effective time, Charter stockholders will continue to own their existing shares of common stock of Charter, the form of which will not be changed by the combination.

#### Treatment of Liberty Broadband Equity Awards

#### Liberty Broadband Stock Options
**Immediately prior to the effective time, each stock option with respect to shares of Liberty Broadband common stock issued and outstanding immediately prior to the effective time will automatically accelerate and become fully vested, and at the effective time, each such stock option will be automatically converted into the right to receive a number of shares of Charter Class A common stock (rounded down to the nearest whole share) equal to the quotient of (i) the product of (x) the excess, if any, of (A) the product of the exchange ratio multiplied by the volume-weighted average price of Charter Class A common stock for the five consecutive trading days ending two trading days prior to the closing date as reported by Bloomberg over (B) the per share exercise price of such stock option, multiplied by (y) the number of shares of Liberty Broadband common stock subject to such stock option immediately prior to the effective time, divided by (ii) the volume-weighted average price of Charter Class A common stock for the five consecutive trading days ending two trading days prior to the closing date as reported by Bloomberg, less applicable tax withholdings.

Liberty Broadband Restricted Stock and RSU Awards (Other than Those Held by GCI Employees)

Effective as of 10 business days prior to the effective time (or such other date on or around that time as may be determined by the Liberty Broadband Board (or authorized committee thereof)) each restricted stock award and restricted stock unit award (excluding restricted stock unit awards held by individuals who provide services primarily or solely to GCI or its subsidiaries) with respect to shares of Liberty Broadband common stock that is outstanding as of such time, will automatically accelerate and become fully vested (in the case of restricted stock unit awards, with applicable performance goals in respect of performance periods that are incomplete at such time, if any, being deemed satisfied