08/28/2026 | Press release | Distributed by Public on 08/28/2026 17:20
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Call option (obligation to sell) | $41.2049 | 08/26/2026 | E/K(1)(2)(3) | 13,400 | (2) | (2) | Series C GCI Group Common Stock | 13,400 | $ 0 | 107,200 | D | ||||
| Put option (right to sell) | $30.15 | 08/26/2026 | X/K(1)(2)(3) | 13,400 | (2) | (2) | Series C GCI Group Common Stock | 13,400 | $ 0 | 107,200 | D | ||||
| Call option (obligation to sell) | $41.2049 | 08/27/2026 | E/K(1)(2)(4) | 13,400 | (2) | (2) | Series C GCI Group Common Stock | 13,400 | $ 0 | 93,800 | D | ||||
| Put option (right to sell) | $30.15 | 08/27/2026 | X/K(1)(2)(4) | 13,400 | (2) | (2) | Series C GCI Group Common Stock | 13,400 | $ 0 | 93,800 | D | ||||
| Call option (obligation to sell) | $41.2049 | 08/28/2026 | E/K(1)(2)(5) | 13,400 | (2) | (2) | Series C GCI Group Common Stock | 13,400 | $ 0 | 80,400 | D | ||||
| Put option (right to sell) | $30.15 | 08/28/2026 | X/K(1)(2)(5) | 13,400 | (2) | (2) | Series C GCI Group Common Stock | 13,400 | $ 0 | 80,400 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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MALONE JOHN C 12300 LIBERTY BOULEVARD ENGLEWOOD, CO 80112 |
X | X | ||
| /s/ Brittany A. Uthoff as Attorney-in-Fact for John C. Malone | 08/28/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | As previously disclosed by the Reporting Person, on July 15, 2025, the Reporting Person was automatically deemed to have entered into a "zero-cost collar" arrangement with respect to 200,000 shares of the Issuer's Series C GCI Group Common Stock (the "Collar"), pursuant to which he wrote European call options and purchased European put options referencing shares of Series C GCI Group Common Stock. Only one of the options can be in the money on the expiration date, at which time the in-the-money options will be exercised, and the other options will expire. If neither the put options nor the call options are in the money on the expiration date, both the put and call options will expire. The Collar will be settled in cash unless the Reporting Person elects physical settlement. |
| (2) | The Collar is divided into 15 components, the first 5 of which are with respect to 13,200 shares of Series C GCI Group Common Stock and the last 10 of which are with respect to 13,400 shares, maturing on sequential trading days over the period beginning on August 18, 2026 and ending on September 8, 2026. |
| (3) | On August 26, 2026, the seventh component of the Collar settled in cash and the Reporting Person received a cash amount of $51,054. On the same date, the related call option expired unexercised. |
| (4) | On August 27, 2026, the eighth component of the Collar settled in cash and the Reporting Person received a cash amount of $53,734. On the same date, the related call option expired unexercised. |
| (5) | On August 28, 2026, the ninth component of the Collar settled in cash and the Reporting Person received a cash amount of $55,476. On the same date, the related call option expired unexercised. |