Daniel E. Sanchez
Liberty GlobalAbout Daniel E. Sanchez
Independent Class III director at Liberty Global (LBTYA), age 62, serving since March 2022. A career attorney with 30+ years in private practice (retired 2020), Sanchez brings legal and media/telecom investing experience. He is the nephew of Liberty Global’s chairman, John C. Malone. He is nominated for re‑election at the 2025 AGM for a term ending at the 2028 AGM. Current public directorships include Liberty Latin America (since Dec 2019) and Warner Bros. Discovery (since Oct 2024). Prior boards: Starz (2013–2016), Lions Gate Entertainment (2016–2021), Discovery, Inc. (2017–2022) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Private law practice | Attorney (non-litigation) | ~1987–2020 | 30+ years advising individual and business clients |
| Starz | Director | Jan 2013–Dec 2016 | Media/telecom board experience |
| Lions Gate Entertainment Corp. | Director | Dec 2016–May 2021 | Media board and governance experience |
| Discovery, Inc. | Director | May 2017–Apr 2022 | Transitioned as industry consolidated |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Liberty Latin America Ltd. | Director | Since Dec 2019 | Sister company in Liberty ecosystem |
| Warner Bros. Discovery, Inc. | Director | Since Oct 2024 | Interlock with Liberty Global transactions disclosed (see Governance) |
| Rocketship Public Schools | Director | N/A | Non-profit governance |
| Ensemble Learning | Director | N/A | Non-profit governance |
| Friends of the Museum of the American Latino | Director | N/A | Development Committee member |
| Malone Family Land Preservation Foundation | Director | N/A | Philanthropy |
Board Governance
- Committee assignments: People Planet Progress (ESG) Committee member; not a chair. Committee met 5 times in 2024. Director class: Class III (up for re‑election at 2025 AGM; term to 2028 if elected) .
- Independence: Board determined Sanchez is independent under NASDAQ/SEC rules, notwithstanding his family relationship to the chairman (nephew of John C. Malone) .
- Attendance and engagement: In 2024, the board met 6 times; each director attended at least 75% of board and committee meetings during their service. Independent directors held two executive sessions in 2024 .
- Related-party/recusal controls: Audit Committee must review related-party transactions; directors must recuse from discussions where conflicts exist. For the 2024 acquisition of additional Formula E stake from Warner Bros. Discovery, two Liberty Global directors who also sit on WBD’s board (Sanchez is a WBD director) recused themselves from approval discussions .
- Voting structure context: Multi-class stock concentrates voting power (Class B: 10 votes/share). John C. Malone holds ~30.4% aggregate voting power, influencing governance dynamics .
Fixed Compensation (Director)
2024 director compensation (non-employee director):
| Component | Amount (USD) |
|---|---|
| Cash retainer | $150,000 |
| Option awards (Grant-date fair value) | Class A: $56,788; Class C: $58,198 (Total $114,986) |
| Stock awards (Grant-date fair value) | Class A: $56,694; Class C: $58,328 (Total $115,022) |
| All other compensation | $4,172 |
| Total | $384,180 |
Notes:
- Equity grant mechanics: 2024 grants to non-employee directors were made May 21, 2024; options vest over three years, with vesting commencing at the 2025 AGM and at each subsequent AGM .
- Pay mix: ~39% cash, ~60% equity; aligns director incentives with shareholders through equity grants .
Performance Compensation (Director Equity Details)
| Grant Date | Instrument | Class | Grant-Date Fair Value | Vesting Terms |
|---|---|---|---|---|
| May 21, 2024 | Options | Class A | $56,788 | Time-based; annual tranches over 3 years starting at 2025 AGM |
| May 21, 2024 | Options | Class C | $58,198 | Time-based; annual tranches over 3 years starting at 2025 AGM |
| May 21, 2024 | Stock awards (RSUs/stock) | Class A | $56,694 | Time-based per director program |
| May 21, 2024 | Stock awards (RSUs/stock) | Class C | $58,328 | Time-based per director program |
Other Directorships & Interlocks
- Current public boards: Liberty Latin America (since Dec 2019); Warner Bros. Discovery (since Oct 2024) .
- Interlock with a counterparty: Liberty Global purchased additional Formula E shares from Warner Bros. Discovery in 2024; directors with WBD board seats recused from Liberty Global board approval. This mitigates conflict risk but remains a watch item for perceived interlocks going forward .
Expertise & Qualifications
- Legal expertise from multi-decade law practice (corporate/non-litigation). Media/telecom governance experience across Starz, Discovery, Lions Gate, WBD, and LLA supports board oversight in content/connectivity strategy and transactions .
Equity Ownership
Beneficial ownership as of March 27, 2025:
| Security | Shares Beneficially Owned | Notes |
|---|---|---|
| Liberty Global Class A | 24,927 | Includes securities exercisable/vesting within 60 days per footnotes |
| Liberty Global Class B | — | None |
| Liberty Global Class C | 41,130 | Includes securities exercisable/vesting within 60 days per footnotes |
Equity instruments (exercisable/vesting within 60 days of March 27, 2025):
- RSUs: Class A 3,333; Class C 3,333 .
- SARs/Options: Class A 18,227; Class C 31,063 .
Additional ownership and compliance notes:
- Percent of class: each position is less than 1% of the respective class .
- No pledges disclosed for Sanchez; pledging policy permits pledges in certain circumstances, but NEOs had no pledges at year-end 2024; directors are subject to pre-clearance for hedging and short sales are prohibited .
- Section 16 filings: Company reports all required insider filings were timely for 2024 except amendments for another director (Mr. Cole); no Sanchez delinquencies noted .
Governance Assessment
Positives:
- Independent director status affirmed under NASDAQ/SEC rules; active on ESG-focused committee (PPP), which met five times in 2024. Attendance met the company’s 75% threshold. Equity-heavy director pay supports alignment with shareholders .
Watch items/Red flags:
- Family relationship to the chairman (nephew of John C. Malone) may raise perception of entrenchment; however, the board deems Sanchez independent .
- Interlock risk: Sanchez sits on Warner Bros. Discovery’s board; Liberty Global transacted with WBD (Formula E share purchase). Recusal protocols were followed, but ongoing monitoring of potential related-party exposure is warranted .
- Structural governance risk: Multi-class voting and concentrated control by John C. Malone (~30.4% voting power) can limit minority shareholder influence over director elections and strategy, increasing the importance of robust committee independence and recusals .
Overall implication for investors: Sanchez brings seasoned legal and media/governance experience and meets independence and attendance standards. The combination of familial ties and external interlocks heightens the need to rely on Liberty Global’s conflict-review and recusal processes, which are documented and were applied in 2024, but remain key to investor confidence as Liberty Global pursues content and venture-related transactions .