DE ANGOITIA ALFONSO 4

What Happened

• Alfonso de Angoitia, CEO of Grupo Televisa (TV), reported multiple transactions on May 4, 2026. He exercised in‑the‑money derivatives to acquire 277,500 CPOs (certificates) at an economic cost that converted to $0.09 per share (acquisition value $24,975), and separately sold 44,500 CPOs in an open‑market/plan transaction for an average $0.57 per share (proceeds $25,365). The filing also records a derivative disposition of 277,500 CPOs at $0.00, reflecting the trust’s handling of shares in connection with the stock purchase plan.

Key Details

• Transaction date: 2026-05-04; Form 4 filed: 2026-05-06 (not shown as late).
• Exercise (Acquired): 277,500 CPOs at $0.09 — total $24,975 (USD conversion per footnote).
• Sale (Disposed): 44,500 CPOs at $0.57 — total $25,365 (average sale price per footnote).
• Derivative disposition: 277,500 CPOs recorded as disposed at $0.00 (related to the exercise/plan mechanics).
• Shares owned after transaction: not reported in the provided excerpt.
• Notable footnotes:
  • F1: Each CPO represents multiple underlying share series (conversion ratio detailed in filing).
  • F2: US dollar amounts reflect conversion from Mexican pesos at Ps.17.5161/USD (Apr 30, 2026).
  • F3–F4: Transactions involved the trust that administers the Stock Purchase Plan for Directors — the trust sold a portion of CPOs to cover the exercise price (Ps.1.60 per CPO) and delivered the remainder to the reporting person; sale prices listed are averages from those trust sales.
  • F5: Not applicable.

Context

• This appears to be a cashless or partially cashless exercise where the administering trust sold some CPOs to pay the exercise cost and taxes, with the net economic effect being a small acquisition ($25k) and a roughly equivalent sale ($25k) on the same date. Such transactions are common for option exercises and plan mechanics and do not, by themselves, indicate a change in the insider’s view of the company.