WINTER JOHN M 4
4 · Liberty Latin America Ltd. · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Liberty Latin America SVP John M. Winter Exercises Awards; Shares Withheld
What Happened
- John M. Winter, SVP, CLO and Secretary of Liberty Latin America (tickers LILA / LILAB / LILAK), converted multiple equity-based awards into common shares (exercise/conversion) and had shares withheld to satisfy tax obligations. On 2026-03-13 the filing shows grants/awards of a mix of RSUs and other derivative awards (totaling 447,522 units across several award lines). On 2026-03-15 Winter exercised/converted a total of 172,561 derivative units into common shares. To cover tax withholding related to those conversions, the company withheld/retired 89,321 shares, producing aggregate cash proceeds of $688,365 (with withholding prices reported at $7.58 and $7.77 per share).
Key Details
- Transaction dates: awards granted 2026-03-13; exercises/conversions and tax-withholding occurred 2026-03-15; Form 4 filed 2026-03-17. No late filing flag noted.
- Exercises (code M): 16,583; 20,997; 19,940; 33,167; 41,994; 39,880 — total 172,561 shares acquired via conversion.
- Tax withholding (code F, shares disposed to issuer): 8,582; 10,886; 10,319; 17,164; 21,732; 20,638 — total 89,321 shares withheld for taxes; cash value reported $688,365 (mix of $7.58 and $7.77 per share).
- Some exercise/conversion lines are reported with $0 proceeds (these reflect conversion of derivative awards to shares rather than an open-market sale).
- Footnotes: awards include Restricted Share Units (RSUs) and Share Appreciation Rights (SARs). RSU/SAR vesting schedules vary across awards (see footnotes F2–F6 for vesting in 2024–2029).
- Transaction codes explained: A = grant/award, M = exercise/conversion of derivative, F = payment of exercise price or tax withholding (share-for-tax withholding).
- Shares owned after the transactions are not disclosed in the provided summary of the filing.
Context
- This appears to be a routine exercise/conversion of equity awards with a sell-to-cover / share-withholding to satisfy tax withholding — common when RSUs or similar awards vest/are converted. These transactions are not open-market purchases or sales by the insider indicating market sentiment; they primarily reflect award settlement and tax payment.
Insider Transaction Report
Form 4
WINTER JOHN M
SVP, CLO AND SECRETARY
Transactions
- Exercise/Conversion
Class A Common Shares
[F1]2026-03-15+16,583→ 126,038 total - Tax Payment
Class A Common Shares
2026-03-15$7.58/sh−8,582$65,052→ 117,456 total - Exercise/Conversion
Class A Common Shares
[F1]2026-03-15+20,997→ 138,453 total - Tax Payment
Class A Common Shares
2026-03-15$7.58/sh−10,886$82,516→ 127,567 total - Exercise/Conversion
Class A Common Shares
[F1]2026-03-15+19,940→ 147,507 total - Tax Payment
Class A Common Shares
2026-03-15$7.58/sh−10,319$78,218→ 137,188 total - Exercise/Conversion
Class C Common Shares
[F1]2026-03-15+33,167→ 425,225 total - Tax Payment
Class C Common Shares
2026-03-15$7.77/sh−17,164$133,364→ 408,061 total - Exercise/Conversion
Class C Common Shares
[F1]2026-03-15+41,994→ 450,055 total - Tax Payment
Class C Common Shares
2026-03-15$7.77/sh−21,732$168,858→ 428,323 total - Exercise/Conversion
Class C Common Shares
[F1]2026-03-15+39,880→ 468,203 total - Tax Payment
Class C Common Shares
2026-03-15$7.77/sh−20,638$160,357→ 447,565 total - Award
Restricted Share Units A
[F1][F2]2026-03-13+51,613→ 51,613 total→ Class A Common Shares (51,613 underlying) - Award
Restricted Share Units C
[F1][F2]2026-03-13+103,226→ 103,226 total→ Class C Common Shares (103,226 underlying) - Award
Share Appreciation Rights A
[F3]2026-03-13+97,561→ 97,561 totalExercise: $7.58Exp: 2036-03-13→ Class A Common Shares (97,561 underlying) - Award
Share Appreciation Rights C
[F3]2026-03-13+195,122→ 195,122 totalExercise: $7.77Exp: 2036-03-13→ Class C Common Shares (195,122 underlying) - Exercise/Conversion
Restricted Share Units A
[F1][F4]2026-03-15−16,583→ 0 total→ Class A Common Shares (16,583 underlying) - Exercise/Conversion
Restricted Share Units C
[F1][F4]2026-03-15−33,167→ 0 total→ Class C Common Shares (33,167 underlying) - Exercise/Conversion
Restricted Share Units A
[F1][F5]2026-03-15−20,997→ 20,997 total→ Class A Common Shares (20,997 underlying) - Exercise/Conversion
Restricted Share Units C
[F1][F5]2026-03-15−41,994→ 41,994 total→ Class C Common Shares (41,994 underlying) - Exercise/Conversion
Restricted Share Units A
[F1][F6]2026-03-15−19,940→ 39,878 total→ Class A Common Shares (19,940 underlying) - Exercise/Conversion
Restricted Share Units C
[F1][F6]2026-03-15−39,880→ 79,756 total→ Class C Common Shares (39,880 underlying)
Holdings
- 176(indirect: By IRA)
Class C Common Shares
- 18,147(indirect: By 401(k))
Class C Common Shares
Footnotes (6)
- [F1]Each Restricted Share Unit represents a right to receive one share of the Issuer's Class A common shares or Class C common shares, as the case may be, at settlement.
- [F2]The RSUs vest in three equal annual installments on March 15 of 2027, 2028 and 2029.
- [F3]The Share Appreciation Rights vest in three equal annual installments on March 15 of 2027, 2028 and 2029.
- [F4]The RSUs vest in three equal annual installments on March 15 of 2024, 2025 and 2026.
- [F5]The RSUs vest in three equal annual installments on March 15 of 2025, 2026 and 2027.
- [F6]The RSUs vest in three equal annual installments on March 15 of 2026, 2027 and 2028.
Signature
/s/ John M. Winter|2026-03-17