Company's 401k Plan Needs Permission to Handle Its Own Stock
Published Date: 11/26/2025
Notice
Summary
Liberty Latin America’s 401(k) Plan in Denver wants permission to buy, hold, and sell some special stock rights it got back in September 2020. Without this okay, these moves would break the rules. If approved, the exemption covers actions from September 10 to 25, 2020, and folks have until January 2, 2026, to share their thoughts or ask for a hearing.
Analyzed Economic Effects
4 provisions identified: 4 benefits, 0 costs, 0 mixed.
Exercise Rights at $7.14 Discount
If you were a participant in the Liberty Latin America 401(k) Plan, you received stock subscription Rights at no additional cost on September 10, 2020 and could exercise them to buy Series C shares at $7.14 per share, which the applicant describes as an approximate 25% discount to the VWAP used for the offering. On September 22, 2020 the exercised shares closed at $7.95, producing a $0.81 per-share difference and a total reported benefit of $12,768.58 for the exercised Rights.
Proceeds for Rights Sold by Participants
Participants who directed the Trustee to sell their Rights between September 18 and September 21, 2020 received an average price of $0.89866 per Right. The Plan reports total proceeds of $11,389.20 for those sales and an average of $495.18 per participant who sold at their direction.
Sale of Unexercised Rights by Committee
For participants who did not elect by the close of trading on September 21, 2020, the Committee directed the Trustee to sell unexercised Rights on September 22, 2020. The Trustee sold 12,336.558 Rights for an average price of $0.8026 per Right, producing $9,901.32 in total proceeds and an average of $380.82 per non‑electing participant.
Trustee Mistake Corrected, Participants Made Whole
The Trustee mistakenly sold 13,868.134 Rights on September 22, 2020 that participants had elected to exercise; LiLAC discovered the mistake on September 28, 2020 and corrections were implemented October 13–15, 2020. The Trustee purchased shares on the open market, participants were charged only the $7.14 subscription price, the proceeds of the sold Rights were removed from affected accounts, and all costs related to the error and correction were paid by the Trustee.
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