# Federal Register #D-12129

Proposed exemption concerning GCI 401(k) Plan stock-rights transaction

**Posted:** October 16, 2026
**Identifier:** D-12129

This Department of Labor notice proposes retroactive relief for transactions involving the GCI 401(k) Plan and GCI Liberty stock rights.
- **Government buyer:** U.S. Department of Labor (DOL), Employee Benefits Security Administration (EBSA).
- **Nature of notice:** A proposed regulatory exemption, not a procurement solicitation; no products or services are being requested.
- **Transaction described:** The Plan received and held 25,390 rights to purchase GCI Liberty, Inc. Series C GCI Group Common Stock, then sold the rights for net proceeds of $133,642.80.
- **Named organizations:** GCI Communication Corporation (Plan sponsor and applicant); **GCI Liberty, Inc.** (issuer of the stock and rights); Newport Trust Company (independent fiduciary); and Fidelity Capital Markets (sale execution).
- **Procurement details:** No requested products, services, part numbers, quantities to purchase, OEMs, or contract value are identified.

### Description

The Department of Labor’s Employee Benefits Security Administration proposes an exemption concerning the GCI 401(k) Plan’s prior acquisition and holding of rights to purchase GCI Liberty, Inc. Series C GCI Group Common Stock. Without an exemption, the transactions would be prohibited under ERISA and/or the Internal Revenue Code. The Plan received 25,390 rights, which were sold on December 1, 2025, for total net proceeds of $133,642.80. If granted, the exemption would apply from November 25, 2025, through December 17, 2025.

[View original listing](https://www.federalregister.gov/documents/2026/10/16/2026-21159/proposed-exemption-from-certain-prohibited-transactions-involving-gci-communication-corporation-gci)