ENRIQUEZ DAHLHAUS Jean Michel 4

What Happened

• Jean Michel Enriquez Dahlhaus, a director of Grupo Televisa (TV), executed option/derivative and sale transactions on May 4, 2026. He exercised an in‑the‑money derivative to acquire 277,500 Certificados de Participación Ordinarios (CPOs) at $0.09 each for a total reported cost of $24,975. On the same date the filing shows a disposition of 277,500 CPOs (reported as a derivative disposition at $0.00) and an open‑market sale of 44,500 CPOs at $0.57 each for proceeds of $25,365.
• The activity appears to include a cashless component handled by a trust that administers the Stock Purchase Plan for Directors: a portion of CPOs was sold to cover the purchase price and taxes, with the remainder delivered to the reporting person (see footnote 4).

Key Details

• Transaction date: May 4, 2026; Form filed May 6, 2026 (timely report).
• Acquired: 277,500 CPOs at $0.09 each — total $24,975 (exercise).
• Sold: 44,500 CPOs at $0.57 each — total $25,365 (open‑market sale).
• Disposition: 277,500 CPOs listed as a derivative disposition at $0.00 (related to trust sale to cover price; see F4).
• Footnotes: F1 explains each CPO represents multiple series of underlying Televisa shares; F2 notes MXN→USD conversion rate used; F3/F4 describe trust sales and averaging of sale prices.
• Shares owned after the transactions are not specified in the filing.

Context

• This was primarily an option/derivative exercise with a trust selling some CPOs to cover the exercise price (a common cashless exercise approach) and a separate open‑market sale of a smaller block of CPOs. Purchases here are small in dollar terms ($25k) and the sales produced similar proceeds ($25k).
• These filings are factual disclosures of transactions and do not by themselves indicate insider sentiment; the trust‑administered mechanics (F4) explain why acquisitions and dispositions occurred on the same date.