Next Alt S.a.r.l. 4

What Happened
Next Alt S.a.r.l., an entity that is an indirect wholly controlled personal holding company of Patrick Drahi and a >10% holder of Optimum Communications, transferred a total of 79,999, (5,846,652 Class A + 74,153,348 Class B) shares to the issuer's subsidiary, CSC Investments II LLC, via an intermediate entity (Next Partner, L.P.). The Class A transfer of 5,846,652 shares resulted in delivery of 14,616.63 Preferred Units in CSC; the Class B transfer of 74,153,348 shares resulted in delivery of 185,383.37 Preferred Units in CSC. The filing shows no cash proceeds (Class B reported at $0.00; Class A listed as N/A) — these were exchanges of common stock for preferred units approved by the Board under Rule 16b-3(e).

Key Details

• Transaction date: May 29, 2026 (reported on Form 4 filed June 2, 2026). Filing appears timely (within the two-business-day rule).
• Nature: Disposition to issuer/subsidiary (code D); one line reported as derivative (Class B exchange).
• Shares transferred: 5,846,652 Class A; 74,153,348 Class B.
• Consideration: Exchanged for Preferred Units in CSC (14,616.63 Preferred Units for Class A shares; 185,383.37 Preferred Units for Class B shares). Reported cash proceeds = $0 (or N/A).
• Footnotes of note:
  • Next Alt contributed the shares to Next Partner, L.P., which then delivered the shares to CSC in exchange for preferred units (F1, F3).
  • Next Alt S.a.r.l. is an entity controlled by Patrick Drahi and disclaims beneficial ownership except for pecuniary interest (F2).
  • Class B shares are convertible into Class A on a 1:1 basis for no consideration (F4).
  • Board approval under Rule 16b-3(e) was obtained for the exchanges.
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context
This was an internal/structured transfer to the issuer’s subsidiary in exchange for preferred units — not an open-market sale to third parties. Because Next Alt is a >10% owner (an institutional/controlling holder), these are corporate/ownership-structure transactions rather than routine insider buy/sell signals by an executive. The Board-approved exchange under Rule 16b-3(e) is commonly used to avoid short-swing profit concerns for certain issuer-involved transactions.