Company: LBRDK
Filing Date: 2025-06-17
Form Type: 11-K
Source: 0001611983-25-000024
Chunk: 7

Company: Liberty Broadband Corp
Filing Date: 2025-06-17
Form: 11-K
Chunk 7
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 of changes in net assets available for benefits during the reporting period. Estimates are based on past experience and other considerations reasonable under the circumstances. Actual results could differ from those estimates.

Investment Valuation and Income Recognition

Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note 6 for discussion of fair value measurements.

Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation (depreciation) includes the Plan’s gains and losses on investments bought and sold as well as held during the year.

Notes Receivable from Participants

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are reclassified as distributions based upon the terms of the Plan document and reported to the Internal Revenue Service (“IRS”) as ordinary income.

Contributions

Employee and Company matching contributions are recorded in the period in which the Company makes the payroll deductions from the participants' earnings.

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GCI 401(k) Plan Notes to Financial Statements December 31, 2024 and 2023

Payment of Benefits Benefits are recorded when paid. (3) Administration of Plan Assets Fidelity Management Trust Company is the Plan’s trustee and Fidelity Investments Institutional Operations Company, Inc. is the Plan's recordkeeper (collectively “Fidelity”). Administrative expenses related to the Plan are reported on the Statements of Changes in Net Assets Available for Benefits for the years ended December 31, 2024 and 2023 and were paid by the Plan to the recordkeeper and asset trustee. The asset trustee charges trade fees for all transactions in common stock investments. Trade fees for mutual fund investments, if any, are described in each fund’s prospectus. Company employees provide administrative support to the Plan, but no employee receives compensation from the Plan and the Company is not reimbursed for these expenses. (4) Amendment or Termination The Plan Sponsor's Board of Directors has reserved the right to amend or terminate the Plan. No amendment may reduce the accrued benefits of any participant or give the Company any interest in the trust assets of the Plan. In the event of termination of the Plan, a participant in the Plan becomes fully vested in his or her Matching Account. (5) Investments Investments are reflected in the