Company: LBTYK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001193125-25-076819
Chunk: 83

Company: Liberty Global Ltd.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 83
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 capital expenditures on an accrual basis, amounts financed under vendor financing or finance lease arrangements and othernon-cashadditions. We define “Adjusted EBITDA” as earnings (loss) from continuing operations before net income tax benefit (expense), othernon-operatingincome or expenses, net share of results of affiliates, net gains (losses) on debt extinguishment, net realized and unrealized gains (losses) due to changes in fair values of certain investments, net foreign currency transaction gains (losses), net gains (losses) on derivative instruments, net interest expense, depreciation and amortization, share-based compensation, provisions and provision releases related to significant litigation and impairment, restructuring and Other Operating Items. “Other Operating Items” includes (a) gains and losses on the disposition of long-lived assets, (b) third-party costs directly associated with successful and unsuccessful acquisitions and dispositions, including legal, advisory and due diligence fees, as applicable, and (c) other acquisition-related items, such as gains and losses on the settlement of contingent consideration. |

Discussion of PVP Figures CAP to Total Shareholder Return We believe that the PVP statistics shown in the table above demonstrate that our compensation philosophy described in — Compensation Discussion & Analysis—Compensation Philosophy and Goalsoperates as intended by creating the desired alignment of executive compensation and shareholder value creation, such that our executives are rewarded for achieving sustained share price appreciation, directly benefiting our shareholders. The PVP table shows a correlation between executive CAP in a given year and the company’s total shareholder return ( TSR) for that year, indicating that our executives’ compensation, in general, moves directionally with our share price. TSR is dependent upon market dynamics and may not, for any specific period, reflect the company’s operating and financial performance for that period, as the market may take into account other factors such as exchange rates, sector performance, macroeconomic trends, projections, capital rotation and many other factors. This relational movement of CAP and TSR will, we believe, continue to incentivize our leaders to build on Liberty Global’s accomplishments and achieve sustainable share price growth over the long term. 67

CAP to Adjusted EBITDA less P&E Additions for Compensation Purposes The company believes that the most important financial metric in determining our annual bonus compensation for executives is annual proportionate Adjusted EBITDA less P&E Additions for Compensation Purposes. This metric was weighted 55% of the overall target payout in 2024 (as described above in — Compensation Discussion & Analysis—