Rep. August Lee Pfluger (R-Texas) has filed a Periodic Transaction Report under the STOCK Act disclosing an exchange of Liberty Broadband Corporation Class C Common Stock (LBRDK), held within his Roth IRA. The transaction, dated August 20, 2026, falls in the disclosed value range of $1,001 to $15,000.
The filing lists the transaction type as an ‘exchange’ rather than an outright purchase or sale, and Pfluger’s own description of the event reads: ‘Shares surrendered thru merger.’ That language points to a corporate restructuring event rather than an active trading decision. Congress members holding shares involved in a merger or exchange offer are often required to report the resulting swap of securities even when the transaction was effectively mandatory, not a discretionary market call.
Because the holding sits inside a Roth IRA, any changes in value tied to the exchange would not create an immediate taxable event, which is consistent with retirement-account treatment of corporate actions like mergers.
A Company Insider Sold Around the Same Window
The Pfluger filing lands alongside a separate disclosure worth noting for context. A Liberty Broadband insider, Frist Julie D., reported a sale of LBRDK shares on August 19, 2026 — one day before the date on Pfluger’s exchange — with a disclosed transaction value of $0. Both events occurred within the same 30-day disclosure window, which is why whoisbuyingnow.com’s tracking system flags them together as a cross-signal.
It’s important to be precise about what this pairing does and does not show. The insider sale and the member exchange are two different, independently filed disclosures, made under two different reporting regimes — Section 16 insider filings for corporate insiders, and the STOCK Act for members of Congress. There’s no indication in the public record that one transaction is connected to or informed by the other. The proximity in timing is exactly the kind of pattern this site surfaces for readers, not a claim of coordination or wrongdoing.
Liberty Broadband has been involved in merger-related corporate actions that have prompted share exchanges across various shareholder classes, which likely explains why the transaction appears as a ‘surrender’ rather than a conventional buy or sell. Pfluger’s disclosure is classified in our system as a ‘congress exchange’ signal, distinct from a discretionary buy or sell, reflecting the mechanical nature of the corporate action described in the filing.
As with all STOCK Act disclosures, this filing is a legal transparency requirement rather than evidence of any impropriety, and readers should treat it as informational context on congressional financial activity rather than a signal to act on.