Company: LBTYK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001193125-25-076819
Chunk: 75

Company: Liberty Global Ltd.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 75
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Under the 2014 Incentive Plan and 2023 Plan, outstanding equity awards will vest in full upon the occurrence of an Unapproved Control Purchase or Board Change and immediately prior to consummation of a Reorganization, unless, in the case of a Reorganization, the compensation committee determines that effective provision has been made for the award to be assumed or replaced with an equivalent award. The PSUs provide that if any of these change-in-controlevents occur during the performance period and the grant agreements are not continued on the same or equivalent terms and conditions, in the case of a Board Change or Control Purchase, or not continued or assumed on equivalent terms, in the case of an Approved Transaction, then each grantee will be deemed to have earned his or her target PSUs, which will vest and the underlying ordinary shares will be issued within 30 days of such change-in-controlevent. Upon a change-in-control,the Original Fries Agreement provided that upon the six-monthanniversary of such change-in-controlevent, where employment is continued, any outstanding options or SARs or other non-performanceawards will vest in full. Going forward, the Fries Agreement requires both a change-in-controlof the company and a termination of his employment without cause (or his resignation for good reason) within 13 months of such change-in-control. Termination After Change-in-Control.Under the 2014 Incentive Plan and 2023 Plan, if a termination of employment occurs without cause or the employee resigns for good reason within 12 months of a Reorganization, then any outstanding SAR and RSU awards will vest and, in the case of SARs, become fully exercisable as of the date of termination of employment. Pursuant to the Fries Agreement, if a termination of Mr. Fries’ employment occurs without cause or Mr. Fries resigns for good reason within 13 months of a change-in-controlevent then Mr. Fries will receive the benefits described above under — Employment and Other Agreements. For purposes of the 2014 Incentive Plan and 2023 Plan, “good reason” for a participant to resign following a change-in-controlevent generally requires that one of the following has occurred without the consent of the participant: (1) a material diminution in the participant’s base compensation; (2) a material diminution of the participant’s official position or authority; or (3) a required relocation of the participant’s principal business office to a different country.