Earnings Feed
Start Free
Liberty Latin America Ltd.·4

Mar 17, 5:44 PM ET

Nair Balan 4

4 · Liberty Latin America Ltd. · Filed Mar 17, 2026

Research Summary

AI-generated summary of this filing

Updated

Liberty Latin America CEO Nair Balan Exercises Awards, Withholds 281,349 Shares

What Happened
Nair Balan, President, CEO and a director of Liberty Latin America (tickers: LILA, LILAB, LILAK), converted/exercised company derivative awards into 648,364 shares on March 15, 2026. The filing also shows awards granted on March 13, 2026 totaling 1,790,088 RSUs/SARs (derivative awards). To cover taxes/exercise costs, 281,349 shares were surrendered/withheld at $7.77 per share, producing proceeds of $2,186,081; the net new shares retained by Balan after withholding are approximately 367,015. Several entries show $0.00 consideration because these were share-settled derivative conversions (RSU/SAR settlements), not open-market purchases.

Key Details

  • Transaction dates: Awards granted 2026-03-13; exercises/conversions and tax-withholding occurred 2026-03-15. Form filed 2026-03-17.
  • Shares granted (derivatives) on 3/13: 1,790,088 RSUs/SARs (various grant lines).
  • Shares acquired by conversion/exercise on 3/15: 648,364 shares.
  • Shares withheld/surrendered for taxes/exercise (code F) on 3/15: 281,349 shares at $7.77/share = $2,186,081.
  • Net shares added (approx.): 367,015.
  • Footnotes: awards are RSUs and Share Appreciation Rights (SARs) that vest in scheduled installments (see filing footnotes F1–F6 for various vesting schedules, 2024–2029).
  • Transaction codes in filing: A = Award/Grant, M = Exercise/Conversion of derivative, F = Payment of exercise price or tax liability.
  • Filing timeliness: No indication of a late filing; report covers 3/13–3/15 activity and was filed on 3/17.

Context

  • These were derivative awards (RSUs/SARs) being settled/exercised and partly net-settled by withholding shares to cover tax liabilities—a common, administrative result of vesting/exercise rather than an open-market sale.
  • Withholding/surrender of shares to pay taxes is routine and does not necessarily signal bullish or bearish insider sentiment.
  • The filing does not state total beneficial ownership after the transactions in the supplied details.

Insider Transaction Report

Form 4
Period: 2026-03-13
Liberty Latin America Ltd.LILA
Nair Balan
DirectorPresident and CEO
Transactions
  • Exercise/Conversion

    Class A Common Shares

    [F1]
    2026-03-15+60,116→ 1,207,168 total
  • Exercise/Conversion

    Class A Common Shares

    [F1]
    2026-03-15+78,740→ 1,285,908 total
  • Exercise/Conversion

    Class A Common Shares

    [F1]
    2026-03-15+77,265→ 1,363,173 total
  • Exercise/Conversion

    Class C Common Shares

    [F1]
    2026-03-15+120,232→ 1,774,134 total
  • Tax Payment

    Class C Common Shares

    2026-03-15$7.77/sh−78,260$608,080→ 1,695,874 total
  • Exercise/Conversion

    Class C Common Shares

    [F1]
    2026-03-15+157,480→ 1,853,354 total
  • Tax Payment

    Class C Common Shares

    2026-03-15$7.77/sh−102,504$796,456→ 1,750,850 total
  • Exercise/Conversion

    Class C Common Shares

    [F1]
    2026-03-15+154,531→ 1,905,381 total
  • Tax Payment

    Class C Common Shares

    2026-03-15$7.77/sh−100,585$781,545→ 1,804,796 total
  • Award

    Restricted Share Units A

    [F1][F2]
    2026-03-13+206,452→ 206,452 total
    → Class A Common Shares (206,452 underlying)
  • Award

    Restricted Share Units C

    [F1][F2]
    2026-03-13+412,904→ 412,904 total
    → Class C Common Shares (412,904 underlying)
  • Award

    Share Appreciation Rights A

    [F3]
    2026-03-13+390,244→ 390,244 total
    Exercise: $7.58Exp: 2036-03-13→ Class A Common Shares (390,244 underlying)
  • Award

    Share Appreciation Rights C

    [F3]
    2026-03-13+780,488→ 780,488 total
    Exercise: $7.77Exp: 2036-03-13→ Class C Common Shares (780,488 underlying)
  • Exercise/Conversion

    Restricted Share Units A

    [F1][F4]
    2026-03-15−60,116→ 0 total
    → Class A Common Shares (60,116 underlying)
  • Exercise/Conversion

    Restricted Share Units C

    [F1][F4]
    2026-03-15−120,232→ 0 total
    → Class C Common Shares (120,232 underlying)
  • Exercise/Conversion

    Restricted Share Units A

    [F1][F5]
    2026-03-15−78,740→ 78,740 total
    → Class A Common Shares (78,740 underlying)
  • Exercise/Conversion

    Restricted Share Units C

    [F1][F5]
    2026-03-15−157,480→ 157,480 total
    → Class C Common Shares (157,480 underlying)
  • Exercise/Conversion

    Restricted Share Units A

    [F1][F6]
    2026-03-15−77,265→ 154,530 total
    → Class A Common Shares (77,265 underlying)
  • Exercise/Conversion

    Restricted Share Units C

    [F1][F6]
    2026-03-15−154,531→ 309,060 total
    → Class C Common Shares (154,531 underlying)
Holdings

  • Class C Common Shares

    (indirect: By 401(k))
    18,863

  • Class C Common Shares

    (indirect: By IRA)
    1,139
Footnotes (6)
  • [F1]Each Restricted Share Unit represents a right to receive one share of the Issuer's Class A common shares or Class C common shares, as the case may be, at settlement.
  • [F2]The RSUs vest in three equal annual installments on March 15 of 2027, 2028 and 2029.
  • [F3]The Share Appreciation Rights vest in three equal annual installments on March 15 of 2027, 2028 and 2029
  • [F4]The RSUs vest in three equal annual installments on March 15 of 2024, 2025 and 2026.
  • [F5]The RSUs vest in three equal annual installments on March 15 of 2025, 2026 and 2027.
  • [F6]The RSUs vest in three equal annual installments on March 15 of 2026, 2027 and 2028.
Signature
/s/ John M. Winter, Attorney-in-Fact|2026-03-17

Documents

1 file
  • 4
    wk-form4_1773783855.xmlPrimary

    FORM 4