Company: LBTYK
Filing Date: 2025-03-27
Form Type: 8-K
Source: 0001570585-25-000102
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Company: Liberty Global Ltd.
Filing Date: 2025-03-27
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Compensatory Arrangements of Certain Officers

2025 Annual Performance Award

On March 21, 2025, the Compensation Committee (the “ Committee”) of Liberty Global Ltd.’s (the “ Company”) Board of Directors approved performance goals for the annual performance awards to its executive officers for the year ending December 31, 2025 (the “2025 Performance Awards”). In the following text, the terms “we,” “our” and “our company” refers to the Company, its subsidiaries and material joint ventures, as context requires.

The target 2025 Performance Award has the following performance metrics: (i) the achievement of budgeted revenue, (ii) the achievement of budgeted adjusted EBITDA less property and equipment additions (each, as pre-defined by the Committee), (iii) the achievement of Company strategic goals, as established by the Committee, and (iv) the achievement of individual goals and objectives, as established by the Committee. Based on the achievement of these performance metrics, a payout of 0% to 140% of the target bonus amount is possible. The aggregate payout for employees at the Company will not exceed the budgeted bonus amount based on performance of the metrics, although with respect to any single employee, their performance of their individual goals and objectives could result in a total payout of their 2025 Performance Award of between 0% and 210% of the target bonus amount.

The terms of the 2025 Performance Awards allow our executive officers to elect to receive up to 100% of their individual 2025 Performance Awards in Class A and Class C ordinary shares of our company or, in the case of our Chief Executive Officer (“ CEO”), any combination of Class A, B or C ordinary shares of our company (“ Bonus Shares”). Executive officers who elect to receive Bonus Shares in respect of all or a portion of their 2025 Performance Awards will also receive an illiquidity premium in restricted share units of 12.5% of the gross number of Bonus Shares earned under the 2025 Performance Award. These restricted share units will vest on March 1 of the year following their issuance, provided that the executive officer holds the Bonus Shares throughout such period.

Our CEO and the four executive officers of our Company who we currently anticipate will be among our five most highly compensated executive officers for fiscal 2025 (