FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 03/09/2018 |
3. Issuer Name and Ticker or Trading Symbol
LendingTree, Inc. [ TREE ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 3,223,989 | I | By Wholly-Owned Subsidiary |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Forward Sale Contract (Obligation to Sell) | (1)(2) | (1)(2) | Common Stock | 642,850 | (1)(2) | I | By Wholly-Owned Subsidiary |
Explanation of Responses: |
1. On June 6, 2017, a wholly-owned subsidiary of Liberty Interactive (as defined in the Remarks section) entered into a forward sale transaction with a financial institution (the "Counterparty") with respect to 642,850 shares (the "Number of Shares") of Common Stock (as defined in the Remarks section). The Reporting Person has pledged the Number of Shares to secure its obligations under the transaction, and retained dividend and voting rights in such pledged shares. The transaction will settle on a cash settlement basis or, at the election of the Reporting Person with the consent of the Counterparty, on a physical settlement basis. The transaction will settle in twenty components over twenty consecutive trading days beginning on or about May 17, 2019. |
2. In the case of cash settlement, on the relevant settlement date for each component: (i) if the volume weighted average price per share of Common Stock on the valuation date for such component is lower than $128.0250 (the "Floor Price"), the Counterparty shall pay the Reporting Person (in cash) the difference multiplied by the Number of Shares, (ii) if the volume weighted average price per share of Common Stock on the valuation date for such component is higher than $211.6680 (the "Cap Price"), the Reporting Person shall pay the Counterparty (in cash) the difference multiplied by the Number of Shares, and (iii) if the volume weighted average price per share of Common Stock on the valuation date for such component is greater than or equal to the Floor Price but less than or equal to the Cap Price, no amount will be payable. |
Remarks: |
On March 9, 2018, the transactions contemplated by the Agreement and Plan of Reorganization, dated as of April 4, 2017, by and among Liberty Interactive Corporation ("Liberty Interactive"), Liberty Interactive LLC, and the Reporting Person, as amended, were completed. As a result, Liberty Interactive contributed to the Reporting Person, among other assets and liabilities, its entire equity interest in Ventures Holdco, LLC, which was the subsidiary (x) holding all of Liberty Interactive's shares of the Issuer's common stock and (y) party to the forward sale contract. On March 9, 2018, at 4:01 p.m., New York City time, Liberty Interactive completed its previously announced split-off (the ''Split-Off'') of the Reporting Person. In the Split-Off, Liberty Interactive redeemed (i) each outstanding share of its Series A Liberty Ventures common stock, $0.01 par value (''LVNTA''), for one share of the Reporting Person's Class A common stock, with no shares of LVNTA remaining outstanding, and (ii) each outstanding share of its Series B Liberty Ventures common stock, $0.01 par value (''LVNTB''), for one share of the Reporting Person's Class B common stock, with no shares of LVNTB remaining outstanding, with the effect that the Reporting Person was split-off from Liberty Interactive and Liberty Interacitve ceased to have an equity interest in the Reporting Person. In connection with the Split-Off, Liberty Interactive's beneficial ownership of the shares of common stock of the Issuer (the "Common Stock") and the forward sale contract were transferred to the Reporting Person. As the transfer of beneficial ownership of each of the Common Stock and the forward sale contract was part of a larger reorganization transaction involving the Reporting Person and Liberty Interactive, the Reporting Person does not admit that there was an acquisition for purposes of Section 16(b) of the Securities Exchange Act of 1934, as amended. |
GCI Liberty, Inc. By: /s/ Craig Troyer Title: Senior Vice President and Assistant Secretary | 03/13/2018 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |