Liberty Capital (GLIBK) 10% Owner John C. Malone Exercises/Settles Derivatives

What Happened

• John C. Malone, a 10% owner of Liberty Capital Corp/NV (GLIBK), had three components of a previously disclosed zero‑cost collar settle in early September 2026. Each component referenced 13,400 shares of Series C GCI Group common stock and was resolved by cash settlement (put/call structure); the Reporting Person received a total of $162,006 in cash across the three settlement dates.
• The Form 4 reports derivative expirations and exercises on Sept 3, Sept 4 and Sept 8, 2026. On each listed date one option in the pair was in‑the‑money and settled in cash, while the related call option expired unexercised.

Key Details

• Transaction dates and cash received:
  • Sept 3, 2026: 13,400-share component settled for $53,332 (call expired unexercised).
  • Sept 4, 2026: 13,400-share component settled for $51,992 (call expired unexercised).
  • Sept 8, 2026: 13,400-share component settled for $56,682 (call expired unexercised).
  • Total cash received across these three components: $162,006.
• Reported as derivative transactions (expiration/exercise) with 13,400 shares per component; disposition price shown as $0 because the Collar is cash‑settled unless physical settlement is elected.
• Collar background: On July 15, 2025 Malone was deemed to have entered a zero‑cost collar on 200,000 shares (written European calls and purchased European puts). The Collar is split into multiple components that matured on sequential trading days; only one option in each pair can be in the money at expiration.
• Shares owned after these transactions: not specified in the filing.
• Filing timing: Form filed Sept 8, 2026 covering Sept 3–8 transactions. (Form 4s are generally required within two business days; the Sept 3 item appears to have been reported after that window.)

Context

• These were derivative settlements from a previously disclosed collar, not open‑market purchases or sales of stock. The Collar was structured as a zero‑cost arrangement of puts and calls and was cash‑settled for these components; no new open‑market buy/sell of the underlying shares was reported here.
• As a 10% owner (not a company executive trade), these transactions reflect management of a previously arranged options collar rather than a straightforward insider buy/sell signal.