Maffei Amends Liberty Broadband Stake Filing

TL;DR

Maffei updated his Liberty Broadband (LBRDA/LBRDB) stake filing. No major changes apparent yet.

AI Summary

Gregory B. Maffei filed an amendment (No. 4) to Schedule 13D on May 13, 2024, regarding his holdings in Liberty Broadband Corporation. The filing pertains to Series A and Series B Common Stock, with CUSIP numbers 530307107 and 530307206, respectively. Maffei's address is listed as c/o Liberty Media Corporation, 12300 Liberty Boulevard, Englewood, Colorado.

Why It Matters

This filing indicates a change or update in the beneficial ownership of Liberty Broadband Corporation by a significant holder, which could signal shifts in control or strategy.

Risk Assessment

Risk Level: medium — Schedule 13D filings, especially amendments, often relate to significant changes in ownership or control, which can introduce uncertainty and volatility.

Key Numbers

• 4 — Amendment Number (Indicates this is the fourth update to the filing.)

Key Players & Entities

• Gregory B. Maffei (person) — Filing person
• Liberty Broadband Corporation (company) — Subject company
• Liberty Media Corporation (company) — Mailing address for Gregory B. Maffei
• May 13, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — suer) Series A Common Stock, par value $0.01 per share Series B Common Stock, par
• $97.21 — Common Stock with an exercise price of $97.21 expired unexercised. Mr. Maffei has not

Filing Documents

• tm2414014d1_sc13da.htm (SC 13D/A) — 42KB
• 0001104659-24-060541.txt ( ) — 43KB

Purpose of the Transaction

Item 4. Purpose of the Transaction. The information contained in Item 4 of the Schedule 13D is hereby amended to delete the last four paragraphs thereof and supplemented to include the following information: The shares of Common Stock beneficially owned by Mr. Maffei and described in this Statement are being held by him for investment purposes. Other than as set forth in this Amendment, Mr. Maffei does not have any present plans or proposals which relate to or would result in: (i) any acquisition by any person of additional securities of the Issuer, or any disposition of securities of the Issuer; (ii) any extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (iii) any sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (iv) any change in the board or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any vacancies on the board; (v) any material change in the present capitalization or dividend policy of the Issuer; (vi) any other material change in the Issuer’s business or corporate structure; (vii) any change in the Issuer’s charter or bylaws or other actions which may impede the acquisition of control of the Issuer by any person; (viii) any delisting from a national securities exchange or any loss of authorization for quotation in an inter-dealer quotation system of a registered national securities association of a class of securities of the Issuer; (ix) any termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), of a class of equity securities of the Issuer; or (x) any action similar to any of those enumerated above. Mr. Maffei is President and Chief Executive Officer and a director of the Issuer. As a result, Mr. Maffei regularly has discussions with members of Issuer management, boa

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. The information contained in Item 5 of the Schedule 13D is hereby amended and restated in its entirety to read as follows: (a) - (b) Mr. Maffei beneficially owns (without giving effect to the conversion of shares of Series B Common Stock into shares of Series A Common Stock) (i) 459,368 shares of Series A Common Stock (including (A) 116,290 shares held by a grantor retained annuity trust of which Mr. Maffei is the sole trustee, for the benefit of himself, his spouse and his children and (B) 86,248 shares held by the Maffei Foundation, as to which shares Mr. Maffei has disclaimed beneficial ownership), which shares represent approximately 2.5% of the outstanding shares of Series A Common Stock, and (ii) 104,582 shares of Series B Common Stock (including 95,410 shares that are issuable upon the exercise of options, which are exercisable within 60 days after May 11, 2024), which shares represent approximately 4.9% of the outstanding shares of Series B Common Stock. After giving effect to the Stipulation and Order, Mr. Maffei may be deemed to beneficially own 9,172 shares of Series B Common Stock, which shares represent approximately 0.5% of the outstanding shares of Series B Common Stock. For purposes of calculating the beneficial ownership of Mr. Maffei, the total number of shares of Series A Common Stock outstanding was 18,235,286 and the total number of shares of Series B Common Stock outstanding was 2,118,842, based, in each case, on the number of shares outstanding as of April 30, 2024, as reported by the Issuer in its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2024, filed with the SEC on May 8, 2024, and as calculated in accordance with Rule 13d-3 under the Exchange Act, after adjustment for the assumed exercise of all options to acquire shares of Series B Common Stock held by Mr. Maffei and exercisable within 60 days after May 11, 2024. Furthermore, 7,183,812 shares of the Issuer’s

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View this SC 13D/A filing on SEC EDGAR