Liberty Broadband (LBRDK) Director Julie Frist Converts 1.17M Shares in Merger

What Happened

• Julie D. Frist, a director of Liberty Broadband Corp (LBRDK), recorded dispositions to the issuer on August 19, 2026 totaling 1,173,392 shares (including 25,601 shares reported as derivatives). Each disposition shows $0 proceeds because the shares/options were converted or cancelled as part of the merger with Charter Communications.
• Under the Merger Agreement, each pre-merger share of the Issuer’s Series A and Series C common stock converted into 0.2360 share of Charter Class A common stock (cash paid in lieu of fractional shares). The reported dispositions therefore equate to roughly 276,920 Charter Class A shares (with fractional amounts paid in cash). Several option/derivative items were cancelled for no consideration.

Key Details

• Transaction date: August 19, 2026; Form 4 filed August 20, 2026 (timely).
• Total LBRDK shares disposed: 1,173,392; total derivative/options cancelled: 25,601; reported cash proceeds: $0 (conversion/cancellation under merger terms).
• Conversion ratio: 0.2360 Charter Class A shares per Liberty Broadband share (cash paid for fractional shares) — ~276,920 Charter shares implied.
• Notable footnotes: F1 (merger conversion ratio and cash in lieu of fractional shares); F9 (certain stock options cancelled for no consideration); F2–F7 (various trust/managed-account holdings and disclaimers of beneficial ownership).
• Filing does not indicate an open-market sale—these were merger-related corporate actions, not voluntary insider sales.

Context

• These dispositions reflect merger mechanics (conversion of stock and cancellation of options) rather than an insider selling into the market. For retail investors, merger conversions and option cancellations are routine corporate events and do not by themselves imply a personal bullish or bearish view by the insider.
• Because several holdings were owned via trusts or managed accounts and the reporting person disclaims beneficial ownership in some entries, the filing includes multiple footnotes clarifying control/disclaimer relationships.