Gallardo Thurlow Juan Ignacio 4

What Happened

• Juan Ignacio Gallardo, a director of Pacific Airport Group (PAC), reported merger-related share issuances and cancellations on May 6, 2026. Per the filing he received 23,206,837 Series B shares and 12,631,936 Series BB shares as merger consideration for shares he held in PAL Aeropuertos, S. de R.L. de C.V. At the same time, 21,628,281 Series B shares and 75,791,619 Series BB shares that he held indirectly through Aeropuertos Mexicanos del Pacifico, S.A.P.I. de C.V. (AMP) were cancelled pursuant to the merger agreement. All issuances and cancellations were non-cash (price listed as N/A).

Key Details

• Transaction date: May 6, 2026 (reported on Form 4 filed May 12, 2026).
• Transaction codes: reported as "Other acquisition or disposition" (code J) and some entries treated as derivative transactions for Series BB shares.
• Amounts: +23,206,837 Series B (acquired), -21,628,281 Series B (cancelled), +12,631,936 Series BB (acquired, derivative), -75,791,619 Series BB (cancelled, derivative).
• Price/Value: N/A — shares were issued/cancelled as part of the merger consideration (no cash exchanged).
• Shares owned after transaction: the filing does not state the total PAC holdings remaining for the reporting person.
• Footnotes of note:
  • The transactions stem from a merger (Merger Agreement dated Apr 30, 2026) that issued Series B and convertible Series BB shares as consideration.
  • Series BB shares are convertible 1:1 into Series B shares at the holder’s election, subject to issuer bylaws.
  • Many of the cancelled shares were held indirectly by the reporting person through AMP; the reporting person disclaims beneficial ownership of AMP’s shares except for any pecuniary interest.
• Timeliness: Form 4 was filed six days after the May 6 transactions (filed May 12); this delay may be later than the standard 2-business-day reporting window under Section 16.

Context

• These entries reflect corporate reorganization/merger mechanics (issuance and cancellation of share classes) rather than open-market buying or selling; no cash trade occurred. Series BB shares are derivative/convertible instruments — treat them as convertible into Series B at the holder’s election. The reporting person’s indirect holdings via AMP are subject to a disclaimer, so reported cancellations/receipts may reflect entity-level actions rather than a direct buy/sell by the individual.