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)
10/22/2024

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)

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)
Share Appreciation Rights A	$21.58	10/22/2024		D⁽¹⁾			200,000	⁽¹⁾⁽²⁾	01/02/2025	Class A Common Shares	200,000	⁽¹⁾	0	D
Share Appreciation Rights A	$21.58	10/22/2024		A⁽¹⁾		200,000		⁽¹⁾⁽²⁾	01/02/2028	Class A Common Shares	200,000	⁽¹⁾	200,000	D
Share Appreciation Rights A	$18.63	10/22/2024		D⁽¹⁾			115,740	⁽¹⁾⁽²⁾	05/01/2025	Class A Common Shares	115,740	⁽¹⁾	0	D
Share Appreciation Rights A	$18.63	10/22/2024		A⁽¹⁾		115,740		⁽¹⁾⁽²⁾	05/01/2028	Class A Common Shares	115,740	⁽¹⁾	115,740	D
Share Appreciation Rights A	$19.91	10/22/2024		D⁽¹⁾			122,827	⁽¹⁾⁽²⁾	05/01/2026	Class A Common Shares	122,827	⁽¹⁾	0	D
Share Appreciation Rights A	$19.91	10/22/2024		A⁽¹⁾		122,827		⁽¹⁾⁽²⁾	05/01/2029	Class A Common Shares	122,827	⁽¹⁾	122,827	D
Share Appreciation Rights A	$10.42	10/22/2024		D⁽¹⁾			220,734	⁽¹⁾⁽²⁾	03/16/2027	Class A Common Shares	220,734	⁽¹⁾	0	D
Share Appreciation Rights A	$10.42	10/22/2024		A⁽¹⁾		220,734		⁽¹⁾⁽²⁾	03/16/2030	Class A Common Shares	220,734	⁽¹⁾	220,734	D
Share Appreciation Rights C	$21.39	10/22/2024		D⁽¹⁾			400,000	⁽¹⁾⁽²⁾	01/02/2025	Class C Common Shares	400,000	⁽¹⁾	0	D
Share Appreciation Rights C	$21.39	10/22/2024		A⁽¹⁾		400,000		⁽¹⁾⁽²⁾	01/02/2028	Class C Common Shares	400,000	⁽¹⁾	400,000	D
Share Appreciation Rights C	$18.24	10/22/2024		D⁽¹⁾			231,480	⁽¹⁾⁽²⁾	05/01/2025	Class C Common Shares	231,480	⁽¹⁾	0	D
Share Appreciation Rights C	$18.24	10/22/2024		A⁽¹⁾		231,480		⁽¹⁾⁽²⁾	05/01/2028	Class C Common Shares	231,480	⁽¹⁾	231,480	D
Share Appreciation Rights C	$20.03	10/22/2024		D⁽¹⁾			245,654	⁽¹⁾⁽²⁾	05/01/2026	Class C Common Shares	245,654	⁽¹⁾	0	D
Share Appreciation Rights C	$20.03	10/22/2024		A⁽¹⁾		245,654		⁽¹⁾⁽²⁾	05/01/2029	Class C Common Shares	245,654	⁽¹⁾	245,654	D
Share Appreciation Rights C	$10.48	10/22/2024		D⁽¹⁾			441,468	⁽¹⁾⁽²⁾	03/16/2027	Class C Common Shares	441,468	⁽¹⁾	0	D
Share Appreciation Rights C	$10.48	10/22/2024		A⁽¹⁾		441,468		⁽¹⁾⁽²⁾	03/16/2030	Class C Common Shares	441,468	⁽¹⁾	441,468	D

Explanation of Responses:

1. The reported transactions involve an extension of the seven-year exercise period on existing share appreciation rights (SAR) for an additional three-year period. For Form 4 reporting purposes, this is shown as if the outstanding SAR were to be cancelled and replaced by a new SAR. However, from the Issuer's perspective, no new SAR is issued, the Issuer has only extended the expiration term on the original grant, with the same pricing and other terms continuing to apply.

2. Vesting and exercise of the existing SAR has not changed as a result of the extension and therefore the SAR continues to be immediately exercisable.

Remarks:

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

	/s/ John M. Winter, Attorney-in-Fact	10/24/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
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