Liberty Capital (GLIBK) 10% Owner John C. Malone Exercises Options

What Happened

• John C. Malone (10% owner) had components of a previously disclosed zero‑cost collar on Liberty Capital (GLIBK) Series C GCI shares settle between Aug 21 and Aug 25, 2026. These were derivative settlements (exercises/expirations), not open‑market stock trades. The three components covered 13,200 shares (Aug 21), 13,200 shares (Aug 24) and 13,400 shares (Aug 25). Malone received cash payments of $60,984 (Aug 21), $57,684 (Aug 24) and $50,652 (Aug 25) — $169,320 total — and related call options expired unexercised on those dates.

Key Details

• Transaction dates & outcomes:
  • Aug 21, 2026: 13,200-share component settled in cash; received $60,984; related call expired unexercised.
  • Aug 24, 2026: 13,200-share component settled in cash; received $57,684; related call expired unexercised.
  • Aug 25, 2026: 13,400-share component settled in cash; received $50,652; related call expired unexercised.
• Type: Derivative settlements from a zero‑cost collar (exercise/expiration; cash settlement).
• Shares owned after transaction: Not disclosed in the provided filing details.
• Footnotes: Collar (entered Jul 15, 2025) consists of 15 sequential components (first 5 = 13,200 shares each; last 10 = 13,400 shares each). Collar settles in cash unless Malone elects physical settlement.
• Filing: Form 4 filed Aug 25, 2026, covering transactions dated Aug 21–25, 2026.

Context

• A zero‑cost collar involves writing calls and buying puts; at each component’s expiration only the in‑the‑money option is exercised and the other expires. These entries reflect cash settlements of derivative components rather than purchases or open‑market sales of common stock. As a 10% owner, Malone’s activity is a large-holder derivative action rather than routine executive buy/sell signals.