ThZeal - The Zeal

SEC FORM 4 SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Nair Balan

(Last)

(First)

(Middle)

1550 WEWATTA STREET

SUITE 800

(Street)

DENVER

80202

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Liberty Latin America Ltd. [ LILA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Shares	03/15/2024		A		36,848⁽¹⁾	A	$0⁽¹⁾	815,167	D
Class A Common Shares	03/15/2024		M		31,085	A	$0⁽²⁾	846,252	D
Class A Common Shares	03/15/2024		M		45,139	A	$0⁽²⁾	891,391	D
Class A Common Shares	03/15/2024		M		3,472	A	$0⁽²⁾	894,863	D
Class A Common Shares	03/15/2024		M		60,116	A	$0⁽²⁾	954,979	D
Class B Common Shares⁽³⁾	03/15/2024		M		156,250	A	$0⁽⁴⁾	428,750	D
Class C Common Shares	03/15/2024		A		73,696⁽¹⁾	A	$0⁽¹⁾	1,398,604	D
Class C Common Shares	03/15/2024		M		62,171	A	$0⁽²⁾	1,460,775	D
Class C Common Shares	03/15/2024		M		90,278	A	$0⁽²⁾	1,551,053	D
Class C Common Shares	03/15/2024		M		6,944	A	$0⁽²⁾	1,557,997	D
Class C Common Shares	03/15/2024		M		120,232	A	$0⁽²⁾	1,678,229	D
Class C Common Shares	03/15/2024		F		299,997	D	$6.31	1,378,232	D
Class C Common Shares								11,849	I	By 401(k) Plan
Class C Common Shares								1,139	I	By IRA

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Share Units A	⁽²⁾	03/15/2024		M			31,085	⁽⁵⁾	⁽⁵⁾	Class A Common Shares	31,085	⁽²⁾	0	D
Restricted Share Units A	⁽²⁾	03/15/2024		M			45,139	⁽⁶⁾	⁽⁶⁾	Class A Common Shares	45,139	⁽²⁾	45,139	D
Restricted Share Units A	⁽²⁾	03/15/2024		M			3,472	⁽⁶⁾	⁽⁶⁾	Class A Common Shares	3,472	⁽²⁾	3,472	D
Restricted Share Units A	⁽²⁾	03/15/2024		M			60,116	⁽⁷⁾	⁽⁷⁾	Class A Common Shares	60,116	⁽²⁾	120,232	D
Restricted Share Units B	⁽⁴⁾	03/15/2024		M			156,250	03/15/2024	03/15/2024	Class B Common Shares	156,250	⁽⁴⁾	0	D
Restricted Share Units C	⁽²⁾	03/15/2024		M			62,171	⁽⁵⁾	⁽⁵⁾	Class C Common Shares	62,171	⁽²⁾	0	D
Restricted Share Units C	⁽²⁾	03/15/2024		M			90,278	⁽⁶⁾	⁽⁶⁾	Class C Common Shares	90,278	⁽²⁾	90,278	D
Restricted Share Units C	⁽²⁾	03/15/2024		M			6,944	⁽⁶⁾	⁽⁶⁾	Class C Common Shares	6,944	⁽²⁾	6,944	D
Restricted Share Units C	⁽²⁾	03/15/2024		M			120,232	⁽⁷⁾	⁽⁷⁾	Class C Common Shares	120,232	⁽²⁾	240,464	D
Restricted Share Units A	⁽²⁾	03/15/2024		A		4,606		03/01/2025⁽⁸⁾	03/01/2025⁽⁸⁾	Class A Common Shares	4,606	⁽²⁾	4,606	D
Restricted Share Units C	⁽²⁾	03/15/2024		A		9,212		03/01/2025⁽⁸⁾	03/01/2025⁽⁸⁾	Class C Common Shares	9,212	⁽²⁾	9,212	D

Explanation of Responses:

1. The Issuer's annual performance award program includes a shareholder incentive program that allows participants, including the Reporting Person, to receive up to 50% of their annual performance awards in common shares of the Issuer in lieu of cash; thereby, aligning our employees' interests and our shareholders. These shares represent the Reporting Person's election to receive such common shares in respect of his 2023 annual performance award (the Bonus Shares).

2. 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.

3. Each Class B Common Share is convertible, at the holder's election, into one Class A Common Share, at any time for no consideration other than the surrender of the Class B Common Share for each Class A Common Share.

4. Each Restricted Share Unit represents a right to receive one share of the Issuer's Class B common shares at settlement.

5. The RSUs vest in three equal annual installments on March 15 of 2022, 2023 and 2024.

6. The RSUs vest in three equal annual installments on March 15 of 2023, 2024 and 2025.

7. The RSUs vest in three equal annual installments on March 15 of 2024, 2025 and 2026.

8. Based on the Reporting Person's share election described in footnote 1, the Reporting Person also received RSUs equal to 12.5% of the Bonus Shares pursuant to the shareholder incentive program of the 2023 annual performance award program. These RSUs will vest in full on March 1, 2025, provided that the Reporting Person does not sell, transfer or otherwise dispose of the Bonus Shares through such date.

Remarks:

The trading symbols for the Issuer's classes of common shares are LILA, LILAB, and LILAK.

	/s/ John M. Winter, Attorney-in-Fact	03/19/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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