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Share-based Compensation | 3 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Share-based Compensation | Share-based Compensation Our share-based compensation expense primarily relates to the share-based incentive awards issued by Liberty Global to its employees and employees of its subsidiaries. A summary of our aggregate share-based compensation expense is set forth below:
|  |  | Three months ended March 31,
|  |  |  |  | 2024 |  | 2023
|  |  |  |  | in millions
Liberty Global (a): |  |  |  |  |  |  |
Non-performance based incentive awards |  |  |  |  | $ | 32.5 |  |  | $ | 29.2 |
Performance-based incentive awards |  |  |  |  | 2.1 |  |  | — |
Other (b) |  |  |  |  | 8.8 |  |  | 6.8 |
Total Liberty Global |  |  |  |  | 43.4 |  |  | 36.0 |
Other |  |  |  |  | 1.2 |  |  | 7.8 |
Total |  |  |  |  | $ | 44.6 |  |  | $ | 43.8 |
Included in: |  |  |  |  |  |  |
Other operating expense |  |  |  |  | $ | 5.3 |  |  | $ | 2.2 |
SG&A expense |  |  |  |  | 39.3 |  |  | 41.6 |
Total |  |  |  |  | $ | 44.6 |  |  | $ | 43.8 |
_______________ (a)The 2024 amounts include share-based compensation expense related to certain Telenet Replacement Awards. (b)Represents annual incentive compensation and defined contribution plan liabilities that have been or are expected to be settled with Liberty Global common shares. In the case of annual incentive compensation, shares have been or will be issued to senior management and key employees pursuant to a shareholding incentive program. The shareholding incentive program allows these employees to elect to receive up to 100% of their annual incentive compensation in common shares of Liberty Global in lieu of cash. The following table provides the aggregate number of options, share appreciation rights (SARs) and performance-based share appreciation rights (PSARs) with respect to awards issued by Liberty Global that were (i) outstanding and (ii) exercisable as of March 31, 2024:
| Class A |  | Class C
| Gross number of shares underlying option, SAR and PSAR awards (a) |  | Weighted average exercise or base price |  | Gross number of shares underlying option, SAR and PSAR awards (a) |  | Weighted average exercise or base price
Held by Liberty Global employees: |  |  |  |  |  |  |
Outstanding | 23,892,259 |  |  | $ | 26.01 |  |  | 56,105,273 |  |  | $ | 25.23 |
Exercisable | 18,609,643 |  |  | $ | 27.07 |  |  | 40,613,634 |  |  | $ | 26.16 |
Held by former Liberty Global employees (b): |  |  |  |  |  |  |
Outstanding | 1,062,927 |  |  | $ | 32.87 |  |  | 2,097,635 |  |  | $ | 32.03 |
Exercisable | 1,030,850 |  |  | $ | 33.16 |  |  | 2,033,491 |  |  | $ | 32.29 |
_______________ (a)Amounts represent the gross number of shares associated with option, SAR and PSAR awards issued to our current and former employees and our directors. Our company settles SARs and PSARs on a net basis when exercised by the award holder, whereby the number of shares issued represents the excess value of the award based on the market price of the respective Liberty Global shares at the time of exercise relative to the award’s exercise price. In addition, the number of shares issued is further reduced by the amount of the employee’s required income tax withholding. (b)Amounts represent certain share-based awards that continue to be held by former employees of Liberty Global subsequent to certain split-off or disposal transactions. Although future exercises of these awards by former employees will not result in the recognition of share-based compensation expense, such exercises will increase the number of our outstanding common shares. The following table provides the aggregate number of restricted share units (RSUs) and performance-based restricted share units (PSUs) that were outstanding as of March 31, 2024. The number of shares to be issued on the vesting date of these awards will be reduced by the amount of the employee’s required income tax withholding.
| Class A |  |  |  | Class C
Held by Liberty Global employees: |  |  |  |  |
RSUs | 2,393,441 |  |  |  |  | 5,210,720 |
PSUs | 441,813 |  |  |  |  | 815,349 |
Held by former Liberty Global employees (a): |  |  |  |  |
RSUs | 14,304 |  |  |  |  | 28,593 |
_______________ (a)Amounts represent certain share-based awards that continue to be held by former employees of Liberty Global subsequent to certain split-off or disposal transactions. The future vesting of these RSUs and PSUs will increase the number of our outstanding common shares.

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