Liberty Global (LBTYK) Form 4 Liberty Global / MICHAEL T FRIES ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

FRIES MICHAEL T

(Last) (First) (Middle)

1550 WEWATTA STREET, STE 1000

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Liberty Global Ltd. [ LBTY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
11/13/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Share Appreciation Rights A	$24.26	11/13/2024		J(1)		272,149		(2)	05/01/2025	Class A Common Shares	272,149	$0	272,149	D
Share Appreciation Rights A	$18.95	11/13/2024		J(1)		367,000		(2)	05/01/2026	Class A Common Shares	367,000	$0	367,000	D
Share Appreciation Rights A	$20.61	11/13/2024		J(1)		394,627		(2)	05/01/2027	Class A Common Shares	394,627	$0	394,627	D
Share Appreciation Rights A	$17.26	11/13/2024		J(1)		509,440		(2)	05/01/2028	Class A Common Shares	509,440	$0	509,440	D
Share Appreciation Rights A	$15	11/13/2024		J(1)		904,648		(2)	03/07/2029	Class A Common Shares	904,648	$0	904,648	D
Share Appreciation Rights A	$14.38	11/13/2024		J(1)		684,406		(2)	04/01/2029	Class A Common Shares	684,406	$0	684,406	D
Share Appreciation Rights A	$9.27	11/13/2024		J(1)		896,133		(2)	04/01/2030	Class A Common Shares	896,133	$0	896,133	D
Share Appreciation Rights C	$23.62	11/13/2024		J(1)		543,568		(2)	05/01/2025	Class C Common Shares	543,568	$0	543,568	D
Share Appreciation Rights C	$18.45	11/13/2024		J(1)		727,094		(2)	05/01/2026	Class C Common Shares	727,094	$0	727,094	D
Share Appreciation Rights C	$20.29	11/13/2024		J(1)		781,828		(2)	05/01/2027	Class C Common Shares	781,828	$0	781,828	D
Share Appreciation Rights C	$16.87	11/13/2024		J(1)		1,009,291		(2)	05/01/2028	Class C Common Shares	1,009,291	$0	1,009,291	D
Share Appreciation Rights C	$14.7	11/13/2024		J(1)		1,792,269		(2)	03/07/2029	Class C Common Shares	1,792,269	$0	1,792,269	D
Share Appreciation Rights C	$14.08	11/13/2024		J(1)		1,355,931		(2)	04/01/2029	Class C Common Shares	1,355,931	$0	1,355,931	D
Share Appreciation Rights C	$8.82	11/13/2024		J(1)		1,775,400		(2)	04/01/2030	Class C Common Shares	1,775,400	$0	1,775,400	D
Share Appreciation Rights C	$14.97	11/13/2024		J(1)		9,227,934		(2)	04/13/2031	Class C Common Shares	9,227,934	$0	9,227,934	D
Share Appreciation Rights C	$11.3	11/13/2024		J(1)		2,581,029		(3)	03/24/2033	Class C Common Shares	2,581,029	$0	2,581,029	D
Share Appreciation Rights C	$10.2	11/13/2024		J(1)		2,283,118		(4)	03/25/2034	Class C Common Shares	2,283,118	$0	2,283,118	D

Explanation of Responses:

1. The disclosures herein reflect adjustments to equity awards previously granted. No new awards were made. The Issuer effected a spin-off of Sunrise Communications AG (the Spin-Off) on November 8, 2024. In the ordinary course of business and under the terms of the Issuer's equity incentive plans, equity awards held by the Issuer's employees and directors have been adjusted to reflect the distribution made in the Spin-Off. As a result of these adjustments, the number of the Issuer's Class A common shares and Class C common shares, as applicable, underlying the outstanding share options, share appreciation rights (SARs) and certain restricted share units (RSUs) and the exercise prices of the share options and SARs, in each case, reported herein were adjusted to preserve the intrinsic value of such securities pre- and post-Spin-Off.

2. The SARs are immediately exercisable.

3. The SARs vest in three equal annual installments commencing on May 1, 2024.

4. The SARs vest in three equal annual installments commencing on May 1, 2025.

Remarks:

The trading symbols for the Issuer's classes of common shares are LBTYA, LBTYB, and LBTYK.

	/s/ Michael T. Fries	11/15/2024
	** Signature of Reporting Person	Date
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