DUNCAN RONALD A 4

What Happened

• Ronald A. Duncan, President & CEO and a director of GCI Liberty (GLIBK), received 18,423 performance-based restricted stock units (RSUs) that vested/certified on Feb 10, 2026 (reported as a grant/award). An additional 1,158 RSUs converted to shares on Feb 20, 2026.
• To satisfy tax withholding, 7,706 shares were surrendered/withheld on Feb 20 at $39.70 per share, generating $305,928. The filing shows an additional 1,158-share derivative conversion/disposition entry at $0. In total, 19,581 shares were issued/converted and 8,864 shares were withheld/transferred, for a net increase of 10,717 shares (filing does not list total shares owned after the transactions).

Key Details

• Transaction dates: Feb 10, 2026 (certification/award); Feb 20, 2026 (conversion/withholding). Filing date: Feb 23, 2026.
• Prices/values: RSUs issued at $0 (award/vesting); tax withholding 7,706 shares @ $39.70 = $305,928. Other 1,158-share disposition reported at $0.
• Transaction codes: A = Award/Grant (RSU issuance), M = Exercise/conversion of derivative (RSU conversion), F = Payment of tax liability (share withholding).
• Footnotes: Certification of performance criteria triggered the issuance of the Series C common stock (performance-based RSUs). Each RSU converts 1:1 to a share; one RSU’s vesting was accelerated to match the performance-based awards.
• Filing timeliness: Reported on Feb 23 for Feb 10/20 transactions — appears later than the usual two-business-day Form 4 deadline.

Context

• These were vesting RSUs (compensation awards), not open-market purchases — awards are common executive compensation and not a direct buy signal. The share surrender was a routine tax-withholding/cashless mechanism. The "M" entries reflect conversion/exercise of restricted stock units into shares.