Sanchez Daniel E. 4

What Happened

• Daniel E. Sanchez, a director of Liberty Global Ltd. (tickers LBTYA/LBTYB/LBTYK), reported a set of derivative transactions on June 23, 2026. The filing shows multiple award and conversion events: a total of 47,702 derivative shares/RSUs were recorded as acquired (including RSU awards and conversions of derivatives), and 11,618 shares were recorded as disposed. The filing lists two grants of 12,812 RSUs (each at $0.00) and two grants of 5,230 RSUs, plus conversion/exercise entries of 5,809 shares (duplicated), with matching disposed entries for the exercised amounts. Dollar values are not stated in the filing (some entries show $0.00 or N/A).
• These events appear to include RSU awards/vestings and exercises/conversions of derivatives. The equal disposed quantities tied to the exercise entries are commonly used to reflect shares withheld or surrendered at exercise (e.g., for taxes), but the filing does not assign a cash value or explain the exact disposition reason.

Key Details

• Transaction date: June 23, 2026; Form 4 filed June 25, 2026 (appears timely).
• Reported acquisitions (aggregate): 47,702 derivative shares/RSUs.
• Reported dispositions (aggregate): 11,618 shares (tied to exercise/conversion entries).
• Net increase in reported holdings from these entries (acquired minus disposed): ~36,084 shares (may span multiple share classes).
• Pricing: Some RSU grants listed at $0.00 in the filing; many exercise/conversion entries list price as N/A. No cash amounts reported.
• Shares owned after transaction: Not specified in the provided summary of the filing.
• Relevant footnotes from the filing:
  • RSUs represent rights to receive one Class A or Class C share (F1).
  • Some RSUs vest in full on the issuer’s 2027 annual general meeting (F2); other RSUs vested in full on the 2026 AGM (F4).
  • The option vests in three equal annual installments beginning at the 2027 AGM (F3).
• No 10b5‑1 plan or late‑filing flag noted in the provided record.

Context

• For retail investors: RSU grants and derivative conversions are common forms of compensation for executives/directors. When exercises show matching dispositions, that often reflects shares withheld or surrendered to satisfy tax withholding or exercise costs rather than an open‑market sale; the Form 4 here reports the dispositions but doesn’t state the reason or cash amounts.
• Different entries may relate to different share classes (LBTYA/LBTYB/LBTYK) or separate award tranches, which is why some items appear duplicated.