FOLCH VIADERO Salvi Rafael 4
4 · GRUPO TELEVISA, S.A.B. · Filed May 6, 2026
Research Summary
AI-generated summary of this filing
Televisa (TV) Director Salvi Folch Exercises Options, Sells Shares
What Happened
Salvi Rafael Folch Viadero, a director of Grupo Televisa, exercised in‑the‑money derivative rights to receive 277,500 Certificados de Participación Ordinarios (CPOs) and reported an acquisition cost of $0.09 per CPO (total ~$24,975). On the same day he (or the trust acting on his behalf) sold 44,500 CPOs in an open market/private sale at an average price of $0.57 per CPO (total ~$25,365). The filing also shows a derivative disposition for 277,500 CPOs at $0.00, reflecting settlement of the derivative instrument rather than cash proceeds.
Key Details
- Transaction date: May 4, 2026; Form 4 filed May 6, 2026 (two days later, appears timely).
- Exercise: 277,500 CPOs acquired at $0.09 each; reported value $24,975 (USD).
- Sale: 44,500 CPOs sold at an average $0.57 each; reported proceeds $25,365 (USD).
- Derivative disposition: 277,500 CPOs reported disposed at $0.00 — reflects settlement of the exercised derivative.
- Shares owned after transaction: Not disclosed in the filing.
- Notable footnotes: F1 explains each CPO represents multiple underlying share classes; F2 shows MXN→USD conversion used; F3/F4 indicate the trust administering the director stock plan sold a portion of CPOs to cover the exercise cost (cashless-like transaction) and delivered the remainder to the reporting person.
Context
This was an option/derivative exercise with a partial sale by the trust to cover the exercise price—common for director stock plans. The exercise constitutes a purchase of shares (acquisition), while the simultaneous sale of some CPOs is a routine monetization to cover costs or taxes rather than a standalone bearish signal. All values are reported in USD using the provided MXN conversion.
Insider Transaction Report
- Exercise of In-Money
CPOs
[F1][F2]2026-05-04$0.09/sh+277,500$24,975→ 277,500 total - Sale
CPOs
[F1][F2][F3][F4]2026-05-04$0.57/sh−44,500$25,365→ 233,000 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.