Puerto Rico Plan Seeks 2020 Stock-Deal Exemption
Published Date: 6/3/2026
Notice
Summary
The Liberty Puerto Rico 401(k) Savings Plan wants permission to keep some past stock deals that normally wouldn’t be allowed. If approved, this exemption covers transactions from September 10 to 16, 2020, letting the plan hold and sell certain Liberty Latin America stock rights without penalties. People have until July 10, 2026, to share their thoughts or ask for a hearing.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Exemption Protects 401(k) Rights Sale
If the Department approves the proposed exemption, transactions by the Liberty Puerto Rico 401(k) Savings Plan involving Liberty Latin America stock rights from September 10, 2020 through September 16, 2020 would be permitted and not treated as prohibited under ERISA or the Internal Revenue Code. The Plan had 328 participants and about $31,671,364.62 in assets; the Trustee sold 6,164 Rights on September 16, 2020 and proceeds were distributed to participants.
Participants Received Sale Proceeds Minus Broker Fee
Plan participants received proceeds from the Trustee's sale of 6,164 Rights on September 16, 2020; the average post-commission price per Right was $1.062675 and total post-commission proceeds distributed to participants were $6,550.33. The Plan paid a broker fee of $370 (about $0.06 per Right) and only SEC fees in connection with the sale.
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