FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT 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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(Print or Type Responses)
1. Name and Address of Reporting Person *
MAFFEI GREGORY B
  2. Issuer Name and Ticker or Trading Symbol
Qurate Retail, Inc. [QRTEA]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman of the Board
(Last)
(First)
(Middle)
12300 LIBERTY BOULEVARD
3. Date of Earliest Transaction (Month/Day/Year)
06/03/2021
(Street)

ENGLEWOOD, CO 80112
4. If Amendment, Date 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
(City)
(State)
(Zip)
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)
Code V Amount (A) or (D) Price
Series A Common Stock 06/03/2021   D   5,378,308 (1) D $ 0 (1) 0 D  
Series B Common Stock (2) 06/03/2021   A   5,378,308 (1) A $ 0 (1) 6,054,235 D  
Series B Common Stock (2) 06/03/2021   A   1,101,321 (3) A $ 0 (4) 7,155,556 D  
Series A Common Stock               14,112 I By 401(k) Savings Plan (5)

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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 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) - QRTEB $ 16.71 06/03/2021   D     197,783   (6) 03/31/2022 Series B Common Stock 197,783 (7) 0 D  
Stock Option (right to buy) - QRTEB $ 16.97 06/03/2021   D     1,137,228   (6) 12/24/2021 Series B Common Stock 1,137,228 (7) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MAFFEI GREGORY B
12300 LIBERTY BOULEVARD
ENGLEWOOD, CO 80112
  X   X   Chairman of the Board  

Signatures

 /s/ Brittany A. Uthoff as Attorney-in-Fact for Gregory B. Maffei   06/07/2021
**Signature of Reporting Person Date

Explanation of Responses:

* 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 3, 2021, the Issuer and the reporting person entered into a Stock Exchange Agreement (the "Exchange Agreement") whereby the reporting person acquired 5,378,308 shares of Series B Common Stock from the Issuer in exchange for an equivalent number of shares of Series A Common Stock. This exchange was approved by a committee of the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended.
(2) Each share of Series B Common Stock is convertible, at the holder's election, into one share of Series A Common Stock, at any time for no consideration other than the surrender of the share of Series B Common Stock for each share of Series A Common Stock.
(3) Represents a restricted stock award that is scheduled to vest, subject to the reporting person's continued employment with the Issuer, in two equal tranches on each of December 10, 2024 and the fifth anniversary of the grant date, subject to earlier vesting under certain circumstances. See also Footnote 4.
(4) On June 3, 2021, pursuant to the Letter Agreement (as defined in the Remarks section), the reporting person waived his rights to assert that certain specified events described therein would constitute a "Change in Control" or "Good Reason" (as defined in his Employment Agreement (as defined in the Remarks section)) with respect to the Issuer and agreed not to terminate his employment with the Issuer in connection with such events, which would have resulted in the severance-related obligations of the Issuer described in the Remarks section, and he agreed to the cancellation of certain stock options, as reported in Table II above. In consideration of the foregoing, the reporting person received the restricted stock grant of Series B Common Stock reported in Table I above and the Issuer agreed that its portion of the reporting person's annual equity awards to be granted for 2022, 2023 and 2024 pursuant to the Employment Agreement will be granted with respect to Series B Common Stock.
(5) The number of shares reported as held in the reporting person's 401(k) is based on a statement from the Plan Administrator dated as of May 31, 2021.
(6) The derivative security was fully vested.
(7) On June 3, 2021, pursuant to the Letter Agreement (as defined in the Remarks section), the reporting person waived his rights to assert that certain specified events described therein would constitute a "Change in Control" or "Good Reason" (as defined in his Employment Agreement (as defined in the Remarks section)) with respect to the Issuer and agreed not to terminate his employment with the Issuer in connection with such events, which would have resulted in the severance-related obligations of the Issuer described in the Remarks section, and he agreed to the cancellation of certain stock options, as reported in Table II above. In consideration of the foregoing, the reporting person received the restricted stock grant of Series B Common Stock reported in Table I above and the Issuer agreed that its portion of the reporting person's annual equity awards to be granted for 2022, 2023 and 2024 will be granted with respect to Series B Common Stock.
 
Remarks:
As a result of certain transactions between Mr. John C. Malone and in the absence of the negotiated letter agreement, dated June 3, 2021, among the Issuer, Liberty Media Corporation ("LMC") and the reporting person (the "Letter Agreement"), the reporting person would have had the right to assert that a "Change of Control" (as defined in that certain Executive Employment Agreement, dated as of December 13, 2019 (the "Employment Agreement"), by and between LMC and the reporting person) with respect to the Issuer had occurred and that the reporting person had "Good Reason" (as defined in the Employment Agreement) to resign from and terminate his employment with the Issuer, which would have resulted in accelerated vesting of his unvested equity awards and other payments by the Issuer to the reporting person and LMC.

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