Bowe Stacy 4

What Happened
Stacy Bowe, President of the HSN brand and U.S. Merchandising at QVC Group, exercised/converted 6,401 derivative awards (reported as code M) on 2026-03-05 and immediately disposed of the resulting interest back to the issuer (code D). The filing shows the derivative disposition at $0.00 and indicates these restricted stock units were cash-settled, so no shares were added to her open-market holdings and no per‑share sale price is reported.

Key Details

• Transaction date: 2026-03-05; Form filed: 2026-03-09 (timely within the two-business-day window).
• Reported actions: exercise/conversion of 6,401 derivatives (M) and disposition to issuer of 6,401 (D). One derivative disposition line shows $0.00.
• Shares owned after transaction: filing reflects six shares of Series A common stock held jointly by the reporting person and spouse (footnote F3). No additional shares were retained from the exercised awards.
• Footnotes: F2 states the reported awards were restricted stock units that were the economic equivalent of one share each and were cash-settled; F1 notes a 1-for-50 reverse split effective May 22, 2025 adjusted award counts.
• No dollar proceeds or market sale price are disclosed in the filing.

Context
This was a cash settlement of prior RSU awards rather than a purchase or open-market sale of shares. For retail investors, cash-settled conversions mean the insider received cash value rather than shares, so the transaction does not signal an increase in insider share ownership. Transaction codes: M = exercise/conversion of derivative; D = disposition to issuer.