Form 4: Liberty Broadband Corp Sells 256,069 Shares of Charter Communications

Liberty Broadband Corp sold 256,069 shares of Charter Communications Class A Common Stock at a price of $390.52 per share.

Summary

• Liberty Broadband Corp, a significant shareholder of Charter Communications, sold 256,069 shares of Class A Common Stock.
• The sale occurred on December 12, 2024, at a price of $390.52 per share.
• Following the transaction, Liberty Broadband Corp still beneficially owns 45,288,659 shares of Charter Communications through its wholly-owned subsidiaries.
• The sale was conducted as an exempt transaction under Rule 16b-3 of the Securities Exchange Act of 1934, as part of an agreement with Charter Communications.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction by a major shareholder, with no indication of positive or negative sentiment. It's a neutral event.

Industry Context

This transaction reflects a significant shareholder adjusting their position in Charter Communications, which is a common occurrence in the telecommunications industry. Such sales can be driven by various factors, including portfolio rebalancing or strategic decisions by the shareholder.

Comparison to Industry Standards

• Sales of this magnitude by major shareholders are not uncommon in the telecommunications sector, where large institutional investors often adjust their holdings.
• Comparable companies like Comcast or Altice USA also see similar transactions by their major shareholders.
• The sale price of $390.52 per share is within the typical trading range for Charter Communications, indicating no unusual market activity.

Related Party Transactions

• The sale was conducted as an exempt transaction under Rule 16b-3, pursuant to the terms of the Second Amended and Restated Stockholders Agreement and a letter agreement between the Issuer and the Reporting Person.

Stakeholder Impact

• The sale may have a minor impact on the share price of Charter Communications, but it is unlikely to cause significant disruption.
• The transaction does not directly impact employees, customers, or suppliers.

Key Dates

Keywords

Charter Communications, Liberty Broadband Corp, stock sale, shareholder, Class A Common Stock, Rule 16b-3, exempt transaction