FELTHEIMER JON 4

What Happened

• Jon Feltheimer, a director of Grupo Televisa, S.A.B. (TV), exercised in-the-money derivative rights on April 30, 2026, resulting in acquisition of 55,500 Global Depositary Shares (GDS-equivalents) at $0.46 each (total $25,530). The filing also reports a disposition of 55,500 derivative units at $0.00 (reflecting conversion/surrender on exercise).
• On the same date, 8,900 of those GDS-equivalents were sold in an open-market or trust-directed sale at an average price of $2.88 per share, generating about $25,632. This pattern is consistent with a cashless exercise/settlement where some shares are sold to cover the purchase price/withholdings.

Key Details

• Transaction date: April 30, 2026.
• Acquired (derivative exercise): 55,500 GDS-equivalents @ $0.46 = $25,530.
• Disposed (reported as derivative disposition): 55,500 units @ $0.00 (conversion/surrender).
• Open-market/private sale: 8,900 GDS-equivalents @ $2.88 = $25,632 (average sale price per F3).
• Shares owned after transaction: Not disclosed in this Form 4 filing.
• Filing date vs. transaction date: Form filed May 5, 2026 for an April 30 transaction — appears to have been filed after the typical 2-business-day window for Form 4s.
• Notable footnotes:
  • F1: Each GDS represents financial interest/voting in a bundle of Mexican CPOs (complex share structure).
  • F2: Peso-to-USD conversion used Ps.17.3853 = $1 (as of Apr 24, 2026).
  • F3–F5: Sales/price are trust-aggregated averages; trust may sell a portion of GDSs at vesting to pay Ps.8.00 per GDS under the directors’ Stock Purchase Plan.

Context

• This is essentially an exercise of a derivative/option position with some shares sold immediately to cover the exercise cost and related amounts (a cashless exercise/settlement handled by the trust). Such transactions are common for option/award exercises and do not, by themselves, signal the insider’s ongoing market view.
• The small net cash outlay ($25.5K cost vs. $25.6K sale proceeds on the sold lot) suggests the sale was primarily to cover price/withholdings rather than a separate investment decision.