v3.25.4
Share-based Compensation and Other Employee Incentive Plan-related Expense (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions Used The following table summarizes certain information related to share-based incentive awards granted during the periods presented:
Year ended December 31,
202520242023
Assumptions used to estimate fair value of SARs and PSARs:
Risk-free interest rate
4.1 - 4.3%
4.2 - 4.3%
3.5 - 4.2%
Expected life
6.0 - 10.0 years
6.0 - 10.0 years
6.0 - 10.0 years
Expected volatility
45.0 - 50.5%
43.8 - 48.3%
42.1 - 46.7%
Expected dividend yieldnonenonenone
Weighted average grant-date fair value per share of awards granted:
SARs$3.92 $3.60 $4.31 
RSUs$6.53 $6.98 $7.96 
PSUs$— $5.90 $8.00 
Cash used to settle equity awards (in millions)
LTVP
$13 $8 $6 
Schedule of SARs
The following tables summarize share-based incentive award activity during 2025 with respect to Liberty Latin America awards held by our employees and our Directors.
Number of
shares
Weighted
average
base price
Weighted
average
remaining
contractual
term
Aggregate intrinsic value
SARs – Class A shares
in millions in yearsin millions
Outstanding at January 1, 2025
11.4 $10.97 
Granted
2.0 $6.68 
Forfeited
(0.9)$11.24 
Exercised— $6.88 
Outstanding at December 31, 2025
12.5 $10.27 5.9$3.9 
Exercisable at December 31, 2025
8.9 $11.75 4.8$1.0 
Number of
shares
Weighted
average
base price
Weighted
average
remaining
contractual
term
Aggregate intrinsic value
SARs – Class C shares
in millions in yearsin millions
Outstanding at January 1, 2025
22.9 $10.97 
Granted
4.1 $6.65 
Forfeited
(1.7)$11.22 
 Exercised(0.3)$6.42 
Outstanding at December 31, 2025
25.0 $10.29 5.9$8.0 
Exercisable at December 31, 2025
17.7 $11.80 4.8$1.8 
Schedule of RSUs
Number of
shares
Weighted
average
grant-date fair value per share
Weighted
average
remaining
contractual
term
RSUs – Class A shares
in millions in years
Outstanding at January 1, 2025
2.2 $7.64 
Granted1.3 $6.54 
Forfeited
(0.2)$7.04 
Released from restrictions(1.3)$7.76 
Outstanding at December 31, 2025
2.0 $6.92 2.2
Number of
shares
Weighted
average
grant-date fair value per share
Weighted
average
remaining
contractual
term
RSUs – Class C shares
in millions in years
Outstanding at January 1, 2025
4.5 $7.65 
Granted2.8 $6.53 
Forfeited
(0.3)$7.04 
Released from restrictions(2.9)$7.65 
Outstanding at December 31, 2025
4.1 $6.93 2.2