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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT 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) |
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 | ||||||||
Forward sale contract (obligation to sell) | (1) | 06/02/2016 | J(1) | 125,000 | 05/27/2016 | 06/13/2016 | Series A QVC Group Common Stock | 125,000 | $ 0 | 750,000 | I | Lake Tana LLC (2) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
VADON MARK C 12300 LIBERTY BOULEVARD ENGLEWOOD, CO 80112 |
X |
/s/ Craig Troyer as Attorney-in-Fact for Mark C. Vadon | 06/06/2016 | |
**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) | On June 2, 2016, Lake Tana LLC partially settled the Forward Contract (as described in the Remarks section) with an unaffiliated third party buyer. Accordingly, Lake Tana LLC sold to the buyer 125,000 of the Pledged Shares and, pursuant to the terms of the Forward Contract, purchased 88,527 shares of LVNTA in exchange for such Pledged Shares. |
(2) | The reporting person is the manager of Lake Tana LLC and has sole voting and investment power with respect to the shares held by Lake Tana LLC. |
Remarks: On May 27, 2016, Lake Tana LLC entered into a postpaid variable forward sale contract (the "Forward Contract") with an unaffiliated third party buyer. The contract obligates Lake Tana LLC to deliver to the buyer up to an aggregate of 1,177,283 shares of the Issuer's Series A QVC Group Common Stock ("QVCA") at the volume weighted average trading price less a commission for each trading day on ten settlement days occurring on the ten consecutive trading days beginning on May 27, 2016. In exchange for assuming this obligation, Lake Tana LLC will receive shares of the Issuer's Series A Liberty Ventures Common Stock ("LVNTA") valued at the 10b-18 volume weighted average price plus a commission on the date following each settlement date under the Forward Contract. Lake Tana LLC pledged 1,177,283 shares of QVCA (the "Pledged Shares") to secure its obligations under the contract. On the first settlement date, 52,283 shares of QVCA were delivered to the buyer, and 125,000 shares of QVCA are being delivered to the buyer on each subsequent settlement date until the aggregate number of shares of QVCA subject to the Forward Contract is satisfied. |