Liberty Broadband (LBRDK) CEO Martin Patterson Exercises RSUs, Sells 7,767 Shares

What Happened

• Martin Patterson, President and CEO of Liberty Broadband (LBRDK), had restricted stock units (RSUs) convert into common shares on 2026-08-10. The filing shows an acquisition of 414 shares at $0.00 (conversion of RSUs) and a related disposal of 7,767 shares at $35.88 each to satisfy tax withholding, yielding $278,680. The filing also records a separate 414-share derivative disposition at $0.00 (see footnotes).

Key Details

• Transaction date(s): 2026-08-10; Form 4 filed: 2026-08-12 (timely filing, within the usual two-business-day window).
• Entries reported:
  • Exercise/conversion (M): 414 shares acquired @ $0.00 (conversion of RSUs).
  • Payment of exercise price / tax liability (F): 7,767 shares disposed @ $35.88 = $278,680 (shares withheld/sold to cover taxes).
  • Exercise/conversion (M) — derivative disposed: 414 shares @ $0.00 (recorded as disposed).
• Shares owned after transaction: not disclosed in the provided excerpt of the filing.
• Footnotes of note:
  • F1/F2: Each RSU converts into one share of Series C Common Stock; RSUs represent contingent rights to shares.
  • F3: RSU acceleration language tied to a merger agreement with Charter, with parties agreeing to permit acceleration within 10 business days of Aug 19, 2026.
• No indication this was an open-market sale for investment purposes; the disposal was for tax withholding (code F).

Context

• This was effectively a vesting/conversion of RSUs with shares withheld/sold to cover tax liability — a routine administrative transaction rather than an open-market directional trade. The presence of RSU acceleration tied to a merger explains why RSUs converted now. Derivative entries at $0.00 reflect conversion/accounting of RSUs rather than a cash purchase.