Item 5. Market for Registrant’s Common Equity
Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
General
See the Glossary of defined terms at the beginning of this Annual Report on Form 10-K. In the following text, the terms “ we ,” “ our ,” “ our company ” and “ us ” may refer, as the context requires, to Liberty Latin America or collectively to Liberty Latin America and its subsidiaries.
Market Information
Our outstanding share capital comprises Class A, Class B and Class C common shares. Our Class A and Class C common shares trade on the Nasdaq Global Select Market under the symbols “LILA” and “LILAK,” respectively. Our Class B common shares are eligible to be traded on the OTC Markets under the symbol “LILAB,” although they do not have an established public trading market. The following table sets forth the range of highest and lowest prices for our Class B common shares for each of the periods indicated, as reported by Bloomberg, taking into account both opening and closing prices. Over-the-counter market prices reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.
Class B
High Low
Year ended December 31, 2025
First quarter $ 6.75 $ 6.75
Second quarter $ 5.27 $ 5.27
Third quarter $ 9.00 $ 8.01
Fourth quarter $ 10.74 $ 9.50
Year ended December 31, 2024
First quarter $ 10.00 $ 8.00
Second quarter $ 10.00 $ 6.08
Third quarter $ 10.00 $ 8.26
Fourth quarter $ 8.68 $ 5.55
Holders
As of February 2, 2026, we had the following number of holders of record of our common stock: 10,608 Class A; 15 Class B; and 24,495 Class C. The foregoing does not include the number of shareholders whose shares are nominally held by banks, brokerage houses or other institutions, but include each such institution as one record holder.
Dividends
We have not paid any cash dividends on our shares, and we have no present intention of doing so. Any future payment of cash dividends will be determined by our board of directors in light of our earnings, financial condition and other relevant considerations.
Securities Authorized for Issuance Under Equity Compensation Plans
Information required by this item is incorporated by reference to our definitive proxy statement for our 2026 Annual General Meeting of Shareholders.
Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities
All information under this Item has been previously reported on our Current Reports on Form 8-K.
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Issuer Purchase of Equity Securities
From time to time, our Directors approve Share Repurchase Programs, which authorize us to repurchase up to a specified dollar value of our Class A common shares and/or Class C common shares through specified dates via open market purchases at prevailing market prices, in privately negotiated transactions, in block trades, derivative transactions and/or through other legally permissible means. The Share Repurchase Programs do not obligate us to repurchase any of our Class A or C common shares. During June 2024, we entered into capped call option contracts, pursuant to which we have purchased capped call options on a number of Class A and Class C common shares, which can result in the receipt of cash or shares at our election. For information about amounts authorized under our Share Repurchase Programs and our capped call option contracts, see note 12 to our consolidated financial statements.
The following table sets forth information concerning our company’s purchase of its own equity securities through exercise of some of our capped call option contracts during the three months ended December 31, 2025 (in millions, except per share amounts). Due to rounding, the total number of shares purchases during the quarter may not recalculate.
Period Total number of shares purchased Average price
paid per share (a) Total number of
shares purchased as part of publicly
announced plans
or programs Approximate
dollar value of
shares that may
yet be purchased
under the plans or programs
October 1, 2025 through October 31, 2025:
Class A — $ — — (b)
Class C — $ — —
November 1, 2025 through November 30, 2025:
Class A — $ — — (b)
Class C — $ — —
December 1, 2025 through December 31, 2025:
Class A 0.08 $ 8.32 0.08 (b)
Class C 0.22 $ 8.38 0.22
Total - October 1, 2025 through December 31, 2025:
Class A 0.08 $ 8.32 0.08 (b)
Class C 0.22 $ 8.38 0.22
(a) Average price paid per share includes direct acquisition costs.
(b) At December 31, 2025, the remaining amount authorized for repurchases under the Share Repurchase Programs was $200 million.
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Stock Performance Graph
The following graph compares the changes in the cumulative total shareholder return on our Liberty Latin America Class A and Class C ordinary shares from December 31, 2020 to December 31, 2025, to the change in the cumulative total return on the MSCI Emerging Markets NTR Index and the Nasdaq Composite TR Index (assuming reinvestment of dividends, where applicable). The graph assumes that $100 was invested on December 31, 2020.
December 31,
2020 2021 2022 2023 2024 2025
Liberty Latin America Shares - Class A $ 100.00 $ 104.76 $ 67.65 $ 65.68 $ 57.14 $ 66.40
Liberty Latin America Shares - Class C $ 100.00 $ 102.80 $ 68.53 $ 66.19 $ 57.17 $ 67.27
MSCI Emerging Markets NTR Index $ 100.00 $ 97.46 $ 77.88 $ 85.53 $ 91.95 $ 122.81
Nasdaq Composite TR Index $ 100.00 $ 122.18 $ 82.43 $ 119.22 $ 154.48 $ 187.14
Item 6. [Reserved]
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