[144] LATAM Airlines Group S.A. American SEC Filing

Rhea-AI Filing Summary

LATAM Airlines Group S.A. (ticker LTM) filed a Form 144 proposing the sale of 5,000,000 American Depositary Shares through J.P. Morgan Securities LLC. The filing lists an aggregate market value of $238,450,000.00 and reports 302,220,895 shares outstanding. The proposed approximate sale date is 09/11/2025. The ADS were acquired on 11/03/2022 in connection with the issuer's emergence from bankruptcy; the acquisition record shows an amount of 96815692279 and payment described as satisfaction of bankruptcy claims and cash. No securities sold in the past three months are reported. The filer certifies they are unaware of undisclosed material adverse information.

Positive

• Broker disclosed: Use of a major broker, J.P. Morgan Securities LLC, for the proposed sale
• Transparency on origin: Acquisition date and method tied to the issuer's emergence from bankruptcy are disclosed

Negative

• Large notional sale: Proposed aggregate market value is $238,450,000, which could add supply pressure if executed
• Limited detail on execution: Form 144 is a notice of proposed sale and does not confirm completion or exact timing

Insights

Securities Analyst

TL;DR: Proposed sale equals 1.65% of outstanding shares and is a routine disclosure of insider-originated shares.

The filing documents a proposed sale of 5,000,000 ADS, representing roughly 1.65% of the 302,220,895 shares outstanding. The broker is identified as J.P. Morgan Securities LLC and the notional value is $238.45 million. Acquisition is recorded as tied to the issuer's emergence from bankruptcy on 11/03/2022, paid via satisfaction of bankruptcy claims and cash. This Form 144 notifies the market of an intended sale and does not itself confirm execution or timing beyond the approximate date. Given the size relative to total outstanding shares, the disclosure is notable but not, on its face, likely to be market-moving.

Risk Analyst

TL;DR: The filing raises standard disclosure and timing considerations but contains no new operational risk details.

The notice affirms the seller represents no undisclosed material adverse information. The securities stem from a bankruptcy-emergence allocation on 11/03/2022, with payment described as satisfaction of claims and cash; that provenance is material to ownership history but does not disclose new credit, operational, or regulatory issues. The filing also states no sales in the prior three months. From a risk perspective, this is a compliance-driven disclosure that imposes routine market and liquidity considerations rather than revealing fresh company-specific risks.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
American Depositary Shares (1)	J.P. Morgan Securities LLC 383 Madison Avenue New York NY 10179	5000000	238450000.00	302220895	09/11/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
American Depositary Shares	11/03/2022	Ordinary shares acquired in connection with the Issuer's emergence from bankruptcy	Issuer			96815692279	11/03/2022	Satisfaction of bankruptcy claims and cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What exactly is being proposed in the LTM Form 144?

The filer proposes to sell 5,000,000 American Depositary Shares through J.P. Morgan Securities LLC, with an aggregate market value of $238,450,000.

When is the proposed sale date for the shares in the LTM filing?

The filing lists an approximate sale date of 09/11/2025.

How large is the proposed sale relative to total shares outstanding for LTM?

The proposed 5,000,000 ADS represent about 1.65% of the 302,220,895 shares outstanding reported in the filing.

How were the securities acquired according to the filing?

The ADS were acquired on 11/03/2022 in connection with the issuer's emergence from bankruptcy, with payment described as satisfaction of bankruptcy claims and cash.

Does the filing report any sales of the issuer's securities in the past three months?

No; the filing states "Nothing to Report" for securities sold during the past three months.