Company: LBRDK
Filing Date: 2025-01-22
Form Type: DEFM14A
Source: 0001140361-25-001609
Chunk: 284

Company: Liberty Broadband Corp
Filing Date: 2025-01-22
Form: DEFM14A
Chunk 284
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—Company Adverse Recommendation Change; Certain Prohibited Actions”), the number of shares held by the Malone Group subject to the foregoing voting requirements will be limited to the number of shares of Liberty Broadband Series A common stock, Liberty Broadband Series B common stock and Liberty Broadband preferred stock equal in the aggregate to the sum of (x) 33.37% of the total voting power of shares of Liberty Broadband capital stock minus (y) the total voting power of the shares of Liberty Broadband Series A common stock, Liberty Broadband Series B common stock and Liberty Broadband preferred stock held by the Maffei Group, with any shares in excess of such amount to be voted on such matters in the same proportion as voted by the holders of shares of Liberty Broadband Series A common stock, Liberty Broadband Series B common stock and Liberty Broadband preferred stock other than the Malone Group and the Maffei Group. Subject to certain conditions, the members of the Malone Group have granted the Chief Legal Officer of Liberty Broadband an irrevocable proxy to vote their respective shares of Liberty Broadband Series A common stock, Liberty Broadband Series B common stock and Liberty Broadband preferred stock in accordance with the Malone voting agreement. The members of the Malone Group have also agreed not to (i) convert their respective shares of Liberty Broadband Series B common stock into Liberty Broadband Series A common stock or Liberty Broadband Series C common stock (or vice versa), or (ii) transfer their respective shares of Liberty Broadband Series A common stock, Liberty Broadband Series B common stock or Liberty Broadband preferred stock prior to the effective time, in each case subject to certain exceptions, including with respect to clause (i) above, pursuant to the Malone exchange agreement or the Malone exchange side letter. Each member of the Malone Group has also agreed to waive, and not to exercise or assert, if applicable pursuant to the merger agreement, any appraisal rights under Section 262 of the DGCL in connection with the merger.

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The Malone voting agreement does not limit or affect any actions taken by such member of the Malone Group in his, her or its capacity as a director or officer of Liberty Broadband or its subsidiaries. The voting and support obligations of each stockholder party to the Malone voting agreement will terminate upon the earliest to occur of: (1) the termination of the merger agreement in accordance with its terms; (2) the effective time; (3) the written agreement of Charter, Liberty Broadband and each