GOULD PAUL A 4

What Happened

• Paul A. Gould, a director of Liberty Global Ltd. (tickers LBTYA / LBTYB / LBTYK), received awards (restricted share units and share-fund units) and completed exercises/conversions of derivative awards on June 23, 2026. The filing shows grants/awards totaling 36,084 units (5,230 + 5,230 + 12,812 + 12,812). It also shows exercise/conversion activity in 5,809-share increments (multiple entries) that resulted in equal numbers of shares acquired and disposed (net zero change from those specific entries). Most grants show no cash price ($0.00 or N/A), consistent with awards/vested RSUs rather than open-market purchases.
• These transactions represent receipt/vesting and derivative conversion rather than an open‑market buy or sale. Receipt of awards is not the same as a director buying shares on the market and does not necessarily signal a personal cash investment.

Key Details

• Transaction date: 2026-06-23; Form 4 filed: 2026-06-25 (timely, within normal reporting window).
• Awards granted/vested: total 36,084 units (two grants of 5,230 and two of 12,812); two 12,812 entries reported at $0.00.
• Exercises/conversions: entries of 5,809 shares listed as exercised/converted with matching disposed and acquired entries (net effect zero for those line items).
• Shares owned after the transactions: not specified in this filing.
• Notable footnotes:
  • F1: Each RSU represents a right to receive one Class A or Class C share.
  • F4: The RSUs vested in full on the date of the issuer’s 2026 annual general meeting.
  • F3: An option referenced vests in three equal annual installments beginning at the 2027 AGM.
  • F5: Share fund units are economic equivalents payable in shares under the Director Deferred Compensation Plan.
• No indication of a 10b5-1 plan, open-market sale, or late filing in this report.

Context

• These are award/derivative transactions (vesting and exercise/conversion). For retail investors: award receipts and vested RSUs increase reported holdings but are different from a director buying stock with cash — they are typically part of compensation. The exercise/conversion lines appear to reflect internal conversion of derivative instruments rather than immediate cash sales. The filing does not disclose a cash sale or open-market purchase related to these entries.