CHEVEZ ROBELO Francisco Jose 4

What Happened

• Director Francisco Jose Chevez Robelo exercised in‑the‑money derivative securities on May 4, 2026 to acquire 277,500 CPOs/shares at $0.09 each (total cost reported $24,975). On the same date the trust sold 44,500 shares in the open market at an average $0.57 per share for proceeds of $25,365. The filing also reports a derivative disposition of 277,500 shares at $0.00 in connection with the exercise (see footnotes regarding the trust and plan mechanics).

Key Details

• Transaction date: 2026-05-04; Form 4 filed 2026-05-06 (timely within the usual 2‑business‑day window).
• Acquired: 277,500 shares via exercise at $0.09 each — total $24,975 (USD amounts reflect conversion per F2).
• Sold: 44,500 shares in open market at average $0.57 — proceeds $25,365 (price is average of trust sales per F3).
• Reported derivative disposition: 277,500 shares at $0.00 (reflects plan/trust mechanics).
• Shares owned after transaction: Not stated in the provided filing excerpt.
• Notable footnotes: F1 explains each CPO represents multiple underlying series shares; F3–F4 explain the trust administering the Stock Purchase Plan will sell a portion of CPOs to pay the exercise price (Ps.1.60 per CPO) and deliver the remainder to the reporting person; USD conversions use the rate in F2.

Context

• This appears to be a routine director stock plan transaction: the director exercised in‑the‑money rights and the administering trust sold a portion of the resulting CPOs to cover the exercise price/obligations (a cashless-like mechanism described in the footnotes). Such plan-related sales commonly reflect administrative requirements rather than an independent market timing decision by the insider.