v3.25.2
Share-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation A summary of our aggregate share-based compensation expense is set forth below: 
 Three months ended
June 30,		Six months ended
June 30,
 2025202420252024
 in millions
Liberty Global (a):
Non-performance based incentive awards$21.3 $27.8 $43.1 $56.1 
Performance-based incentive awards15.4 4.9 20.9 7.0 
Other (b)8.8 7.4 14.9 14.8 
Total Liberty Global45.5 40.1 78.9 77.9 
Other3.9 3.3 3.9 4.5 
Total$49.4 $43.4 $82.8 $82.4 
Included in:
Other operating expense$3.5 $4.8 $6.4 $9.4 
SG&A expense45.9 38.6 76.4 73.0 
Total$49.4 $43.4 $82.8 $82.4 
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(a)Amounts include share-based compensation expense related to certain Telenet Replacement Awards.

(b)Represents annual incentive compensation and defined contribution plan liabilities that have been or are expected to be settled with Liberty Global common shares. In the case of annual incentive compensation, shares have been or will be issued to senior management and key employees pursuant to a shareholding incentive program. The shareholding incentive program allows these employees to elect to receive up to 100% of their annual incentive compensation in common shares of Liberty Global in lieu of cash.
Schedule of Stock Option Activity
The following table provides the aggregate number of options, SARs and performance-based share appreciation rights (PSARs) with respect to awards issued by Liberty Global that were (i) outstanding and (ii) exercisable as of June 30, 2025:
Class AClass C
Gross number of shares underlying option, SAR and PSAR awards (a)Weighted average exercise or base priceGross number of shares underlying option, SAR and PSAR awards (a)Weighted average exercise or base price
Held by Liberty Global employees:
Outstanding38,611,646 $13.86 86,733,678 $14.03 
Exercisable33,193,110 $14.51 76,747,448 $14.46 
Held by former Liberty Global employees (b):
Outstanding2,868,454 $15.58 5,608,974 $15.60 
Exercisable2,690,030 $15.90 5,265,641 $15.88 
_______________

(a)Amounts represent the gross number of shares associated with option, SAR and PSAR awards issued to our current and former employees and our directors. Our company settles SARs and PSARs on a net basis when exercised by the award holder, whereby the number of shares issued represents the excess value of the award based on the market price of the respective Liberty Global shares at the time of exercise relative to the award’s exercise price. In addition, the number of shares issued is further reduced by the amount of the employee’s required income tax withholding.

(b)Amounts represent certain share-based awards that continue to be held by former employees of Liberty Global subsequent to certain spin-off or disposal transactions, or as otherwise permitted under applicable Liberty Global equity plan documents. Although future exercises of these awards by former employees will not result in the recognition of share-based compensation expense, such exercises will increase the number of our outstanding common shares.
Schedule of Other Share Based Compensation Activity
The following table provides the aggregate number of restricted share units (RSUs) and performance-based restricted share units (PSUs) that were outstanding as of June 30, 2025. The number of shares to be issued on the vesting date of these awards will be reduced by the amount of the employee’s required income tax withholding.
Class AClass C
Held by Liberty Global employees:
RSUs3,464,075 4,572,836 
PSUs4,916,529 6,730,895 
Held by former Liberty Global employees (a):
RSUs59,543 111,428 
PSUs10,220 10,180 
_______________

(a)Amounts represent certain share-based awards that continue to be held by former employees of Liberty Global subsequent to certain spin-off or disposal transactions, or as otherwise permitted under applicable Liberty Global equity plan documents. The future vesting of these RSUs and PSUs will increase the number of our outstanding common shares.