Liberty Latin America (LILA) Director Curtis Miranda Receives Preferred Shares

What Happened Curtis Miranda, a director of Liberty Latin America Ltd. (LILA), received 12,216 newly issued Series A Preference Shares as a special dividend payable June 16, 2026 (reported on Form 4). Those shares were issued at $0 consideration as part of the dividend; the preference shares have an initial liquidation price of $25 each (implied value ≈ $305,400). On June 17, 2026 he was also credited with 1,935 Restricted Share Units (RSUs) representing rights to Series A Preference Shares (reported as a derivative acquisition, also $0), with an implied value ≈ $48,375. Together the transactions imply roughly $353,775 of preference-share value based on the stated $25 liquidation price.

Key Details

• Transactions: 6/16/2026 — 12,216 Series A Preference Shares acquired via special dividend (code J, $0.00); 6/17/2026 — 1,935 RSUs for Series A Preference Shares acquired (code J, $0.00, derivative).
• Prices/values: Issued at no cash consideration; initial liquidation price stated at $25 per Preferred Share (used above to show implied value).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes of note:
  • The board declared a special dividend of 0.10 preferred share per outstanding common share; the director directly received the 12,216 Preferred Shares (F1).
  • Each RSU represents a right to one Series A Preference Share at settlement; RSUs were adjusted under anti-dilution rules so Original RSUs now convert to 0.10 × underlying common shares (F2–F3).
  • The RSUs vest in three equal annual installments on March 15, 2027 (F4).
• Timeliness: The Form 4 was filed July 17, 2026 for a June 16 transaction — roughly one month later, which is past the SEC’s usual 2-business-day filing window for Form 4s.

Context

• These were corporate-action acquisitions (special dividend and RSU adjustment), not open-market purchases or sales, so they do not directly signal a director buying stock in the market.
• The RSUs are derivative awards (rights to receive preferred shares) with a multi-year vesting schedule; they will only convert to actual shares as they vest and settle.
• Trading symbols: common shares trade as LILA, LILAB, LILAK; the Series A Preference Shares trade as LILAP.