Liberty Live (LLYVK) John C. Malone Swaps Shares

What Happened John C. Malone (reported as a 10% owner) executed an intra-party/private swap on September 24, 2026: he disposed of 29,593 shares of Series C Liberty Live Group Common Stock (reported sale at $98.16 each, proceeds $2,904,849) and acquired 28,333 shares of Series B Liberty Live Group Common Stock (reported purchase at $102.53 each, cost $2,904,982). Per the filing, the Series C shares and $133.61 in cash were transferred to two trusts (beneficiaries are his adult children) in exchange for the Series B shares.

Key Details

• Transaction date: September 24, 2026.
• Sale: 29,593 Series C shares at $98.16 — proceeds reported $2,904,849.
• Purchase: 28,333 Series B shares at $102.53 — cost reported $2,904,982.
• Cash component: $133.61 included in the exchange (per footnote).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes of note:
  • F1: Each Series B share is convertible into one Series A share at holder election for no additional consideration.
  • F2: The reported buy/sell were part of a private transaction between Malone and two trusts (beneficiaries are his adult children).
  • F3–F5: Prior March 27, 2026 distributions between Malone, a charitable remainder unitrust, and a revocable trust changed holdings by 7,560 and 15,120 shares (explained in the filing).
  • F6: Malone disclaims beneficial ownership of shares held by his spouse.
• Filing timeliness: The Form 4 was filed on Sep 28, 2026 for a Sep 24 transaction; based on business-day rules this filing date is timely (no late‑filing flag reported).

Context

• This was a private swap among related parties/trusts rather than an open-market buy or sell; such exchanges often reflect estate, tax, or family-ownership planning rather than a straightforward trading signal.
• Series B shares can be converted to Series A at Malone's election, which may affect economic or voting exposure depending on his conversion decisions.