ZOOK BRIAN D 4

What Happened Brian D. Zook (MD, Chief Accounting Officer) received Series A Preferred Shares as part of a special dividend declared May 21, 2026 and payable June 16, 2026. He directly received 4,918 Preferred Shares and an additional 140 Preferred Shares credited to his IRA (total 5,058 preferred shares). In addition, a derivative award (adjusted share appreciation rights/SARs) was reported on June 17, 2026 covering 2,164 shares (reported with $0 cash consideration). The dividend converted entitlement into newly issued 9.0% Fixed Rate Cumulative Perpetual Redeemable Series A Preferred Shares (ticker LILAP), initial liquidation price $25 per preferred share. These were recorded as "other acquisition or disposition (J)" — i.e., receipt via dividend, not an open-market purchase.

Key Details

• Transaction dates: June 16, 2026 (preferred shares received) and June 17, 2026 (derivative adjustment).
• Shares received: 4,918 preferred shares directly + 140 preferred shares in IRA = 5,058 preferred shares; derivative reported: 2,164 SAR-adjusted shares. Reported dollar amount: $0 (no cash paid/received).
• Reason: Special dividend of 0.10 Series A Preferred Shares per common share; SARs and other awards were adjusted under anti-dilution provisions due to the dividend (compensation committee approved under Rule 16b-3).
• Vesting/derivative notes: Some SARs and RSUs were adjusted with varying vesting schedules (some vest in full March 15, 2027; others vest in installments through 2029). One derivative security is noted as fully vested (see filing footnotes).
• Filing timeliness: Form 4 was filed July 17, 2026 covering mid-June transactions — approximately one month after the transactions (appears late); check the full Form 4 for explanations or amendments.
• Trading symbols: common shares LILA, LILAB, LILAK; Series A Preference Shares LILAP (per filing remarks).

Context This transaction is receipt of a corporate special dividend (preferred shares) and adjustments to equity awards — routine corporate actions and compensation-plan anti-dilution adjustments rather than an insider buying or selling common stock. Such dividend-issued securities and SAR adjustments are typically administrative and do not necessarily signal insider trading intent. For precise post-transaction holdings, valuation, or questions about timeliness, consult the full Form 4 (Accession 0001725076-26-000003).