Liberty Latin America Ltd. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$LILAK
Cable & Other Pay Television Services
Telecommunications
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 22, 2024
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Between 2018 and 2020, Liberty Latin America Ltd. (the “Company”) had issued share appreciation rights (“SARs”) with seven-year contractual terms. In 2021, the Company changed its policy to provide that all new equity grants would have ten-year contractual terms in order to more closely align with common market practice. On October 22, 2024, the Compensation Committee (the “Compensation Committee”) of the Company’s Board of Directors (the “Board”) approved the extension of the expiration dates of SARs granted in 2018, 2019 and 2020 from the seventh anniversary to the tenth anniversary of the original grant dates to align with current Company and industry practice and to provide greater retention incentive to employees. The extension of the SAR expiration dates applies to all SARs that were granted in 2018, 2019 and 2020 and that remained outstanding as of October 22, 2024, including SARs that were granted in January 2018 to two members of the Board (Michael T. Fries and Charles H.R. Bracken) and certain other employees of the Company’s former parent company, Liberty Global Ltd.
The exercise prices of the 2018, 2019 and 2020 SARs will not change; they have exercise prices ranging from $18.15 to $21.58 (for 2018), $15.84 to $19.91 (for 2019) and $10.28 to $10.42 (for 2020) in Class A common shares and from $18.24 to $21.39 (for 2018), $15.83 to $20.03 (for 2019) and $10.23 to $10.48 (for 2020) in Class C common shares. For Messrs. Fries and Bracken, Balan Nair (the Company’s Chief Executive Officer), Christopher Noyes (the Company’s Chief Financial Officer) and John M. Winter (the Company’s Chief Legal Officer), the exact number of SARs, their exercise prices and new SAR expiration dates are shown in Form 4s filed on October 24, 2024. Messrs. Nair, Noyes and Winter were named executive officers in the Company’s 2024 proxy statement for its 2024 annual general meeting of shareholders. The Company’s other named executive officers joined the Company after 2020 and do not hold any SAR awards that were affected by the extension described above.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| Exhibit No. | Exhibit Name | ||||
| 101.SCH | XBRL Inline Taxonomy Extension Schema Document. | ||||
| 101.DEF | XBRL Inline Taxonomy Extension Definition Linkbase. | ||||
| 101.LAB | XBRL Inline Taxonomy Extension Label Linkbase Document. | ||||
| 101.PRE | XBRL Inline Taxonomy Extension Presentation Linkbase Document. | ||||
| 104 | Cover Page Interactive Data File.* (formatted as Inline XBRL and contained in Exhibit 101) | ||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LIBERTY LATIN AMERICA LTD. | ||||||||
| By: | /s/ John M. Winter | |||||||
| John M. Winter | ||||||||
| Senior Vice President, Chief Legal Officer & Secretary | ||||||||
Date: October 24, 2024