Liberty Broadband completes spin-off of GCI Liberty; Malone exchanges 1.6M Series B shares for Series C

Liberty Broadband Corp

Spin-off of GCI Liberty completed on July 14, 2025.
Chairman John C. Malone exchanged 1,617,040 Series B shares (LBRDB) for Series C shares (LBRDK) at closing.
Exchange was pursuant to November 2024 Side Letter to avoid related party rules that could limit tax benefits for GCI Liberty.
Series C shares issued in reliance on Section 4(a)(2) exemption from registration under the Securities Act.

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