HANK GONZALEZ Carlos 4

What Happened

• Hank Gonzalez (Director) exercised in‑the‑money derivatives on May 4, 2026 to acquire 277,500 Certificados de Participación Ordinarios (CPOs) at a net cost of $0.09 per share, totaling $24,975. The filing also reports a trust sale of 44,500 CPOs in an open‑market transaction at an average price of $0.57 per share, generating $25,365. The exercise generated a corresponding disposition record for the 277,500 derivatives (reported at $0.00), consistent with cancellation upon exercise.
• These actions appear to be a cashless-style transaction administered by a trust (see footnotes): the trust sold a portion of vested CPOs to cover the exercise price and deliver the remainder to the director.

Key Details

• Transaction date: May 4, 2026; Filing date: May 6, 2026 (timely).
• Exercise (code X): 277,500 CPOs acquired @ $0.09 = $24,975.
• Sale (code S): 44,500 CPOs sold @ $0.57 = $25,365.
• Derivative disposition: 277,500 reported disposed at $0.00 (reflects cancellation of the instrument on exercise).
• Shares owned after transaction: Not specified in the Form 4.
• Notable footnotes:
  • F1: Each CPO represents multiple underlying share series of Grupo Televisa.
  • F2: Amounts converted from Mexican pesos to USD (rate 17.5161 MXN/USD as of 4/30/2026).
  • F3: Sale price is an average from trust sales on behalf of several similarly situated persons.
  • F4: Trust administering the Stock Purchase Plan sold a portion of CPOs to pay the Ps.1.60 per CPO price at vesting.
• Transaction codes: X = exercise of derivative, S = open‑market sale.

Context

• For retail investors: this looks like a typical cashless exercise where vested CPOs were issued on exercise and a portion was sold by the trust to cover the exercise price (and possibly taxes/fees). Such transactions are common for equity compensation and do not alone indicate the director’s market view.
• The derivative entry at $0.00 simply reflects the cancellation/transfer of the derivative instrument upon exercise.