GREGORY B. MAFFEI - 25 Mar 2022 Form 4 Insider Report for Qurate Retail, Inc. (QRTEA)

Role
Chairman of the Board, Director, 10%+ Owner
Signature
/s/ Brittany A. Uthoff as Attorney-in-Fact for Gregory B. Maffei
Issuer symbol
QRTEA
Transactions as of
25 Mar 2022
Transactions value $
$0
Form type
4
Filing time
29 Mar 2022, 17:56:17 UTC
Previous filing
18 Mar 2022
Next filing
28 Apr 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction QRTEA Series A Common Stock Disposed to Issuer $0 -229,022 -100% $0.000000* 0 25 Mar 2022 Direct F1
transaction QRTEA Series B Common Stock Options Exercise $0 +229,022 +3.2% $0.000000 7,384,578 25 Mar 2022 Direct F1, F2
holding QRTEA Series A Common Stock 17,365 25 Mar 2022 By 401(k) Savings Plan F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction QRTEA Exchange Right (Right to Buy) - QRTEB Options Exercise -229,022 -100% 0 25 Mar 2022 Series B Common Stock 229,022 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On June 3, 2021, the Issuer and the reporting person entered into a Stock Exchange Agreement (the "Exchange Agreement"), as previously described in the Issuer's Current Report on Form 8-K filed on June 4, 2021, pursuant to which among other things, the Issuer agreed that on the terms and subject to the conditions of the Exchange Agreement, the reporting person at his option, during the six-month period following the vesting of the performance-based restricted stock unit award (the "PRSU award") granted to the reporting person on March 10, 2021, may transfer to the Issuer the number of shares of Series A Common Stock received by the reporting person upon vesting of such PRSU award in exchange for an equivalent number of newly-issued shares of Series B Common Stock (the "Exchange Right"). The Exchange Agreement, Exchange Right and related exchanges were 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.
F2 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.
F3 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 February 28, 2022.