Federal Register #2026-11065

Proposed Exemption for Liberty Puerto Rico 401(k) Savings Plan Stock Rights Transactions

This notice from the Department of Labor's Employee Benefits Security Administration concerns a proposed exemption for past financial transactions involving the Liberty Puerto Rico 401(k) Savings Plan. - Government Buyer: - Department of Labor, Employee Benefits Security Administration - OEMs and Vendors: - Liberty Latin America Ltd. (issuer of stock rights) - Oriental Bank and Trust (Plan trustee) - Products/Services Requested: - No procurement of products or services; the notice addresses regulatory exemption for prior acquisition, holding, and sale of stock rights - The Plan held Series A and Series C Liberty Latin America Ltd. stock and received 6,164 rights, which were sold on the open market - Notable Requirements: - Exemption would cover transactions from September 10 through September 16, 2020 - The Plan had 328 participants and approximately $31.67 million in assets at the time - The process was executed by the Plan trustee for the benefit of participants - This is a regulatory action, not a procurement opportunity

Description

This notice proposes an exemption from certain prohibited transactions involving the Liberty Puerto Rico 401(k) Savings Plan. The exemption would permit the Plan's prior acquisition, holding, and sale of certain stock rights to purchase shares of stock in Liberty Latin America Ltd. The exemption, if granted, will be effective from September 10, 2020, through September 16, 2020. The Plan had 328 participants and approximately $31.67 million in assets at the time of the rights offering. The Department of Labor's Employee Benefits Security Administration is the agency involved.

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