Fernandez Fernandez Jose Luis 4
4 · GRUPO TELEVISA, S.A.B. · Filed May 6, 2026
Research Summary
AI-generated summary of this filing
Grupo Televisa Director Jose Luis Fernandez Exercises Options, Sells Shares
What Happened
Jose Luis Fernandez Fernandez (Director) exercised in‑the‑money derivatives on May 4, 2026, resulting in the acquisition of 277,500 certificated securities (CPOs) at an effective USD price of $0.09 each for a total of $24,975. On the same day, 44,500 CPOs were sold in an open‑market/ trust sale at an average price of $0.57 each for $25,365. The filing also shows a corresponding derivative disposition of 277,500 units (recorded at $0.00) related to the exercise/settlement of the derivative instrument.
Key Details
- Transaction date: 2026-05-04; Form 4 filed 2026-05-06 (appears timely).
- Acquired by exercise: 277,500 CPOs @ $0.09 = $24,975 (USD).
- Sold (open market/trust): 44,500 CPOs @ $0.57 = $25,365 (USD).
- Derivative disposition entry: 277,500 units recorded at $0.00 (reflects exercise/settlement).
- Shares owned after transaction: Not specified in this Form 4.
- Notable footnotes:
- F1: Each CPO represents multiple underlying series shares of Grupo Televisa.
- F2: USD amounts reflect conversion from MXN using rate 17.5161 MXN/USD (Apr 30, 2026).
- F3: The sale price is an average from trust sales made on behalf of multiple similarly situated persons.
- F4: At vesting the trust administering the directors’ Stock Purchase Plan will sell a portion of CPOs to pay the Ps.1.60 per CPO price and deliver the remainder to the reporting person.
Context
This appears to be a cashless or partially cashless option exercise: the trust sold a portion of the CPOs to cover the exercise price (and likely related costs), with remaining CPOs delivered to the director. The dollar amounts involved are modest (roughly $25k each for the acquisition and the sale). Such exercises followed by trust sales are common for covering exercise costs or tax withholding and do not, by themselves, indicate the insider’s market view.
Insider Transaction Report
- Exercise of In-Money
CPOs
[F1][F2]2026-05-04$0.09/sh+277,500$24,975→ 882,775 total - Sale
CPOs
[F1][F2][F3][F4]2026-05-04$0.57/sh−44,500$25,365→ 838,275 total - Exercise of In-Money
CPOs held in Stock Purchase Plan
[F1][F2][F5]2026-05-04−277,500→ 0 total(indirect: Stock Purchase Plan)Exercise: $0.09From: 2026-04-10→ CPOs (277,500 underlying)
Footnotes (5)
- [F1]Each Certificado de Participacion Ordinarios ("CPO") represents twenty-five Series "A" Shares, twenty-two Series "B" Shares, thirty-five Series "L" Shares and thirty-five Series "D" Shares of Grupo Televisa, S.A.B.
- [F2]Reflects conversion from Mexican pesos into US dollars based on the currency conversion rate of 17.5161 Mexican Pesos per US dollar as of April 30, 2026.
- [F3]Price is the average price of all sales described in footnote 4, which were effected by the trust on behalf of the reporting person together with several similarly situated persons, without distinction among them, in a series of sales concluding on the transaction date.
- [F4]At the date of vesting, the trust that administers the Stock Purchase Plan for Directors, acting on behalf of the reporting person, will sell a portion of these CPOs to pay the price of Ps.1.60 per CPO and deliver the remainder of these CPOs to the reporting person.
- [F5]Not applicable.