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424B3 1 tm2625133-3_424b3.htm 424B3 tm2625133-3_424b3 - none - 8.8004887s

Filed Pursuant to Rule 424(b)(3)

Registration No. 333-298901

PROSPECTUS

QVC GROUP, INC.

37,625,653 Shares of Common Stock

This prospectus relates to the proposed resale, from time to time, by the selling stockholders identified in this prospectus (the “Selling Stockholders”) or their permitted transferees, of up to 37,625,653 shares of common stock, par value $0.01 per share (the “Common Stock”). The Selling Stockholders acquired the majority of these shares of Common Stock in connection with the Company’s emergence from the Chapter 11 Cases, and certain shares offered hereby were acquired in subsequent transactions. The Company is registering certain of those shares pursuant to the Registration Rights Agreement and certain of those shares on a voluntary basis.

This prospectus provides you with a general description of such securities and the general manner in which the Selling Stockholders may offer or sell the securities. More specific terms of any securities that the Selling Stockholders may offer or sell may be provided in a prospectus supplement that describes, among other things, the specific amounts and prices of the securities being offered and the terms of the offering. Such prospectus supplement, if any, may also add, update or change information contained in this prospectus.

We are not selling any securities under this prospectus and will not receive any proceeds from the resale of shares of Common Stock by the Selling Stockholders pursuant to this prospectus. However, we will pay the expenses, other than underwriting discounts and commissions, associated with the sale of securities pursuant to this prospectus.

Our registration of the securities covered by this prospectus does not mean that the Selling Stockholders will issue, offer or sell, as applicable, any of the securities. The Selling Stockholders may resell the securities covered by this prospectus in a number of different ways and at varying prices. We provide more information about how the Selling Stockholders may sell the shares in the section entitled “Plan of Distribution.”

The Common Stock is listed on the Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “QVCG.” On September 29, 2026, the last reported sales price of the Common Stock was $14.32 per share.

Investing in our Common Stock involves risks. See “Risk Factors” beginning on page 10 of this prospectus and, if applicable, any risk factors described in any applicable prospectus supplement or in the documents incorporated or deemed incorporated by reference in this prospectus and the applicable prospectus supplement for information on those factors you should consider before making the decision to invest in our Common Stock.

Neither the U.S. Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.

The date of this prospectus is September 29, 2026

	Page
ABOUT THIS PROSPECTUS		ii
WHERE YOU CAN FIND MORE INFORMATION		1
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE		2
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS		3
PROSPECTUS SUMMARY		6
RISK FACTORS		10
USE OF PROCEEDS		14
DETERMINATION OF OFFERING PRICE		14
DIVIDEND POLICY		14
DESCRIPTION OF CAPITAL STOCK		15
DESCRIPTION OF CERTAIN INDEBTEDNESS		17
SECURITIES ACT RESTRICTIONS ON RESALE OF COMMON STOCK		19
BENEFICIAL OWNERSHIP OF SECURITIES		21
EXECUTIVE COMPENSATION		23
SELLING STOCKHOLDERS		51
PLAN OF DISTRIBUTION		53
LEGAL MATTERS		56
EXPERTS		56

Name and Address of Beneficial Owner	Stock Beneficially Owned		Percent of Class
Strategic Value Partners, LLC, 100 W. Putnam Avenue, Greenwich, CT 06830		13,121,773		26.2%
Silver Point Capital, L.P., Two Greenwich Plaza, Greenwich, CT 06830		8,671,038		17.3%
GoldenTree Asset Management LP, 300 Park Avenue, New York, NY 10022		7,867,869		15.7%
Oaktree Capital Management, L.P., 333 S. Grand Avenue, Los Angeles, CA 90071		7,210,891		14.4%

Executive Retention Practices
Rite Aid Corporation	J.C. Penney Company, Inc.	The Hertz Corporation
Chesapeake Energy Corporation	McDermott International, Inc.	Frontier Communications Corp.
Bed Bath & Beyond, Inc.	Spirit Airlines, Inc.	Neiman Marcus Group LTD LLC
Big Lots, Inc.	Gol Linhas Aéreas Inteligentes S.A.	Ascena Retail Group, Inc.
Diebold Holding Company, Inc.	Vertex Energy, Inc.	Garrett Motion Inc.

Pre-Paid Executive Incentive Performance Metrics
Akorn, Inc.	Chesapeake Energy Corporation	Gulfport Energy Corporation
Libbey Inc.	Noble Corporation plc	Oasis Petroleum Inc.
Teligent, Inc.	Chaparral Energy, Inc. (rebranded as Canvas Energy, Inc. post emergence from restructuring)	Denbury Resources Inc.
Endo International plc	J.C. Penney Company, Inc.	Washington Prime Group, Inc.

Envision Healthcare	Intelsat S.A.	Toys “R” Us Inc.
JCPenney Company, Inc.	Chesapeake Energy Corporation	McDermott International, Inc.
Mallinckrodt plc	Avaya Inc. (2017)	Endo International plc
Frontier Communications Corporation	iHeartMedia	Whiting Petroleum Corporation
Avaya Inc. (2022)

Abercrombie & Fitch Co.	Bath & Body Works, Inc.	Burlington Stores, Inc.
Chewy, Inc.	DICK’s Sporting Goods, Inc.	Etsy, Inc.
Foot Locker, Inc.	IAC Inc.	iHeartMedia, Inc.
Kohl’s Corporation	Macy’s, Inc.	Nexstar Media Group, Inc.
Pinterest, Inc.	PVH Corp.	Sally Beauty Holdings, Inc.
Signet Jewelers Limited	The Gap, Inc.	Urban Outfitters, Inc.
V.F. Corporation	Wayfair, Inc.

Name	Total Special Bonus			Retention Component			Performance Component
David Rawlinson II		$	15,750,000		$	13,650,000		$	2,100,000
Bill Wafford		$	5,913,750		$	5,213,750		$	700,000
Stacy Bowe		$	2,960,399		$	2,694,936		$	265,463
Mike Fitzharris		$	3,589,240		$	3,287,162		$	302,078
Alex Wellen		$	2,951,000		$	2,665,050		$	285,950

										Retention Component Vesting
Name	January 5, 2026			March 15, 2026			March 31, 2026			Earlier of the Emergence Date or February 15, 2027			February 15, 2027			March 15, 2027
David Rawlinson		$	—		$	—		$	—		$	9,900,000		$	3,750,000		$	—
Bill Wafford		$	1,000,000		$	—		$	913,750		$	3,300,000		$	—		$	—
Stacy Bowe		$	685,000		$	—		$	758,466		$	1,251,470		$	—		$	—
Mike Fitzharris		$	1,000,000		$	—		$	863,080		$	1,424,082		$	—		$	—
Alex Wellen		$	—		$	250,000		$	817,000		$	1,348,050		$	—		$	250,000

Name	Award	Grant Date Fair Value of Award Reported in Summary Compensation Table			Grant Date Fair Value of Award Remaining After Forfeiture and/or Impact of Chapter 11 Cases
David Rawlinson II	2025 Rawlinson Term RSUs		$	4,540,540		$	0
	Rawlinson Performance Award		$	15,000,000		$	0
	Total:		$	19,540,540		$	0
Bill Wafford	2025 Multiyear RSUs		$	774,162		$	0
Bill Wafford	Total:		$	774,162		$	0
Stacy Bowe	2025 Multiyear RSUs		$	662,876		$	0
Stacy Bowe	Total:		$	662,876		$	0
Mike Fitzharris	2025 Multiyear RSUs		$	754,306		$	0
Mike Fitzharris	Total:		$	754,306		$	0
Alex Wellen	2025 Multiyear RSUs		$	636,750		$	0
	2025 Wellen Sign-On RSUs		$	270,270		$	0
	Total:		$	907,020		$	0

David Rawlinson II	$	10,865,867
Bill Wafford	$	3,692,208
Stacy Bowe	$	1,919,020
Mike Fitzharris	$	2,223,642
Alex Wellen	$	2,249,755

Ending Price as a Multiple of Starting Price	Percentage of Tranche That Will Vest
2x or more		200%
1.5x		150%
1x		100%
.75x		75%
Less than .5x		50%

Name and Principal Position	Year		Salary ($)		Bonus ($)(1)		Stock Awards ($)(2)		All Other Comp. ($)		Total ($)
David Rawlinson II, President and CEO		2025		1,750,000		9,099,679		19,540,540		16,188		30,406,407
Bill Wafford, CFO and CAO		2025		841,918		2,849,340		774,162

David Rawlinson II	$	3,500,000
Bill Wafford	$	505,151
Stacy Bowe	$	421,540
Mike Fitzharris	$	479,451
Alex Wellen	$	362,301