SEC Form 4 · accession 0001225208-16-038193
Liberty Broadband Corp · LBRDA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Albert E Rosenthaler
Officer — Chief Tax Officer
Period of report
Aug 17, 2016
Accepted (ET)
Aug 19, 2016 · 5:49 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001611983
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Series A Common Stock | Aug 17, 2016 | M | 1,907 | $33.12 | A | 18,769 | D | |
| Series A Common Stock | Aug 17, 2016 | S | 7 | $67.395 | D | 18,762 | D | |
| Series A Common Stock | Aug 17, 2016 | S | 1,900 | $67.394 | D | 16,862 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option - LBRDA (Right to Buy)F1,F2 | $33.12 | Aug 17, 2016 | M | 1,907 | D | — | Dec 17, 2016 | Series A Common Stock | 1,907 | 0 | D |
Explanation of responses
- F1On November 4, 2014, Liberty Media Corporation ("Liberty") completed the spin-off (the "spin-off") of the Issuer (its former wholly-owned subsidiary), which was effected by the distribution to each holder of its common stock of shares of the corresponding series of the Issuer's common stock. In connection with the completion of the spin-off, all equity awards held by the reporting person with respect to Liberty's common stock (each an "Original LMC Award") were adjusted pursuant to the anti-dilution provisions of the incentive plan under which the equity awards were granted, such that the reporting person received (i) an adjustment to the exercise price or base price, as applicable, and number of shares relating to the Original LMC Award and (ii) an equity award relating to shares of the corresponding series of the Issuer's common stock. These adjustments were approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended.
- F2The derivative security is fully vested.