Company: LILA
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001712184-25-000031
Chunk: 201

Company: Liberty Latin America Ltd.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 9C
Chunk 201
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 PSUs, of which (i) 0.1 million were earned and vested immediately, (ii) 0.2 million were earned and vested in each of March 2023 and March 2024 and (iii) 0.2 million will vest in March 2025 based upon the achievement of certain individual qualitative objectives. At December 31, 2024 and 2023, we had 0.2 million and 0.3 million Class B PSUs outstanding.•PSARs. During 2021 and 2022, certain key employees received the 2021 PSARs. Each award represented the right to receive a payment in shares or, if the compensation committee so determined, cash or a combination of cash and shares, equal to the excess of the fair market value of the common shares on the day of exercise over the exercise price, subject to performance and vesting. The 2021 PSARs have a term of ten years and included performance conditions based on the achievement of individual qualitative objectives during the performance period from January 1, 2021 through December 31, 2023. The earned 2021 PSARs vested on March 16, 2024. At both December 31, 2024 and 2023, we had 3 million Class A PSARs and 6 million Class C PSARs outstanding. Share-based Compensation Other Employee Incentive Plan-related ExpenseOur share-based compensation expense includes amounts related to share-based incentive awards held by our employees and employees of our subsidiaries. The following table summarizes certain information related to share-based incentive awards granted during the periods presented: Year ended December 31,202420232022Assumptions used to estimate fair value of SARs and PSARs:Risk-free interest rate4.2 - 4.3%3.5 - 4.2%2.0 - 3.7%Expected life6.0 - 10.0 years6.0 - 10.0 years6.0 - 10.0 yearsExpected volatility43.8 - 48.3%42.1 - 46.7%40.2 - 49.8%Expected dividend yieldnonenonenoneWeighted average grant-date fair value per share of awards granted:SARs$3.60 $4.31 $4.91 PSARsN/AN/A$5.92 RSUs$6.98