Martin E. Patterson
Liberty BroadbandAbout Martin E. Patterson
Martin E. Patterson was appointed President and Chief Executive Officer of Liberty Broadband Corporation effective July 14, 2025, following completion of the GCI Divestiture; John C. Malone remained Chairman . Patterson has been a Senior Vice President at Liberty Media Corporation since 2010, and he certified Liberty Broadband’s quarterly reports in August and November 2025 as CEO . He also serves on the boards of Charter Communications (since 2025) and comScore (since 2021) . Liberty Broadband’s pending merger with Charter and the mid-2025 leadership transition limit disclosure of tenure-specific TSR or financial performance metrics for Patterson to date .
Past Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Liberty Media Corporation | Senior Vice President | 2010–present | Corporate executive role |
| Liberty Broadband Corporation | Senior Vice President | until July 2025 | Prior to CEO appointment |
| Atlanta Braves Holdings, Inc. | Senior Vice President | until August 2024 | Prior senior executive role |
| QVC Group, Inc. | Senior Vice President | until March 2025 | Prior senior executive role |
| Liberty TripAdvisor Holdings, Inc. | Senior Vice President | until April 2025 | Prior senior executive role |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| Charter Communications, Inc. | Director | since 2025 | Board service |
| comScore, Inc. | Director | since 2021 | Board service |
| Skyhook Wireless, Inc. | Director | prior | Former board service |
| Ideiasnet S.A. | Director | prior | Former board service |
Fixed Compensation
- No public disclosure of Patterson’s base salary, target bonus, or cash compensation as of filings through November 2025 .
Performance Compensation
- CEO RSU award: On August 21, 2025 the Compensation Committee granted 16,722 RSUs in LBRDK; vesting occurs ten business days before the merger effective date with Charter, with acceleration upon death or disability .
| Grant Date | Instrument | Shares | Vesting Condition | Acceleration Terms |
|---|---|---|---|---|
| Aug 21, 2025 | RSU (LBRDK) | 16,722 | Vest ten business days before Charter merger effective date | Accelerates upon death or disability |
- General compensation framework (company-wide, pre-2025 CEO transition): performance bonuses referenced consolidated Revenue, Adjusted OIBDA, and Free Cash Flow across operating companies; payouts in 2024 reflected these measures (context for Liberty Broadband’s pay-for-performance design) .
Equity Ownership & Alignment
- Initial Form 3 (as of July 14, 2025) shows direct holdings and derivative awards; an amended Form 3 filed the same day added a Power of Attorney and indicated no securities beneficially owned. Subsequent exhibits confirm the August RSU grant; we present the original Form 3 holdings and the granted RSUs for completeness .
| Security | Amount | Ownership Form | Notes |
|---|---|---|---|
| LBRDA (Series A common) | 270 | Direct | As reported on Form 3 |
| LBRDP (Series A preferred) | 225 | Direct | As reported on Form 3 |
| LBRDK (Series C common) | 2,506 | Direct | As reported on Form 3 |
| RSUs – LBRDK | 771 | Direct | Pre-existing RSUs from Form 3 |
| Stock Option – LBRDK | 3,191 | Direct | Exercisable date 12/11/2030; strike $76.45 |
| Stock Option – LBRDK | 7,595 | Direct | Exercisable date 12/13/2030 |
| CEO RSU Grant – LBRDK | 16,722 | Direct | Granted 08/21/2025; event-based vesting |
Ownership as % of series outstanding (approximate, based on reported shares outstanding):
- LBRDA: 270 / 18,251,013 ≈ 0.0015%
- LBRDK: 2,506 / 123,023,477 ≈ 0.0020%
- LBRDP: 225 / 7,183,812 ≈ 0.0031%
Alignment and pledging:
- No pledging of Patterson’s shares disclosed; company-wide disclosures detail pledging for certain other insiders but none for Patterson –.
- Stock ownership guidelines for executives and directors were eliminated in March 2025 in anticipation of the Combination, so guideline compliance is not applicable to Patterson’s tenure .
Employment Terms
| Agreement/Provision | Details |
|---|---|
| CEO Appointment | Appointed President & CEO effective July 14, 2025; Malone resigned as CEO and remained Chairman |
| RSU Agreement | RSU agreement dated Aug 21, 2025 filed as Exhibit 10.1 to Q3 2025 10-Q; 16,722 RSUs, vest tied to merger timing; accelerate upon death/disability |
| Clawback Policy | Company adopted a Dodd-Frank-compliant clawback policy in Aug 2023 applicable to executive officers for restatements and misconduct |
| Hedging Policy | Company discloses no practices/policies restricting hedging by employees or directors |
| Related Parties | 8-K discloses no arrangements or related-party interests for Patterson under Item 404(a) |
Performance & Track Record
- Strategic events during Patterson’s appointment: Liberty Broadband completed the GCI Divestiture (distribution completed July 14, 2025) and continued toward combination with Charter; Patterson certified the Q2 and Q3 2025 10-Qs as CEO .
- No executive achievements/controversies specific to Patterson disclosed beyond appointment and RSU grant .
Risk Indicators & Red Flags
- Hedging permitted: Company does not have policies restricting hedging, which may dilute alignment signals for executives .
- Event-based RSU award: Vesting tied to merger timing rather than operating performance; acceleration on death/disability .
- Insider trading/10b5‑1 plans: No Form 4 transactions or 10b5‑1 disclosures for Patterson found through November 2025 [search sweep; 8-K/10-Q exhibits reviewed] .
Say‑On‑Pay & Shareholder Feedback
- 2024 say‑on‑pay received majority support; Liberty Broadband stockholders elected triennial say‑on‑pay in 2021 .
Compensation Peer Group
- Not disclosed for Patterson in 2025; general compensation analysis and peer benchmarking in 2025 proxy pertained to prior NEOs and frameworks .
Investment Implications
- Patterson’s compensation is largely equity-based and event-driven (16,722 RSUs vesting at merger), suggesting limited incremental selling pressure pre‑close and minimal standalone pay‑for‑performance signals during the short interim tenure .
- Beneficial ownership appears de minimis relative to shares outstanding, reducing “skin-in-the-game” alignment vs larger insider holders; no pledging disclosed for Patterson, mitigating collateral risk .
- Governance posture includes a robust clawback policy but allows hedging, which can weaken alignment; ownership guidelines were eliminated ahead of the Combination, further lowering structural alignment requirements .
- No disclosed severance or change-of-control cash economics for Patterson; equity vests tied to merger timeline and accelerates only on death/disability, suggesting low contingent cash risk to shareholders .