Pacific Airport Group (PAC) director lists large indirect AMP-linked stake

Rhea-AI Filing Summary

Pacific Airport Group director Gallardo Thurlow Juan Ignacio filed an initial Form 3 reporting existing holdings in Series B and Series BB shares. The filing shows indirect ownership of Series BB shares that are convertible into 75,791,619 Series B shares through Aeropuertos Mexicanos del Pacifico (AMP), as well as 21,628,281 Series B shares indirectly via AMP, 602,731 Series B shares held directly, and 140,007 Series B shares held indirectly through Equipos del Aigua. The director may be deemed to beneficially own AMP-held securities through control of PAL Aeropuertos but expressly disclaims beneficial ownership except to the extent of pecuniary interest.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Gallardo Thurlow Juan Ignacio

(Last) (First) (Middle)

MONTE CAUCASO 915

(Street)

MEXICO CITY MEXICO 11000

(City) (State) (Zip)

MEXICO

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Pacific Airport Group [ PAC ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Series B Shares	602,731	D
Series B Shares	140,007	I	By EQUIPOS DEL AIGUA, S.A. DE C.V.
Series B Shares	21,628,281	I	By AMP(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Series BB Shares	(2)	(2)	Series B Shares	75,791,619	(2)	I	By AMP(1)

Explanation of Responses:

1. These securities are owned directly by Aeropuertos Mexicanos del Pacifico, S.A.P.I. de C.V. ("AMP"), which is owned 66.6% by Controladora Mexicana de Aeropuertos, S.A. de C.V., which is owned 50% by PAL Aeropuertos, S. DE. R.I. DE C.V. ("PAL"). Through her control of PAL, the reporting person may be deemed to beneficially own the securities directly owned by AMP. The reporting person disclaims beneficial ownership of these securities, except to the extent of her pecuniary interest therein, and this report shall not be deemed an admission that she is the beneficial owner of such securities for purposes of Section 16(a) of the Securities Exchange Act of 1934 (the "Act") or for any other purpose.

2. The Series BB shares are convertible into an equal number of Series B shares at any time, at the holder's election, and have no expiration date.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Alejandra Yazmin Soto Ayech, Attorney-in-Fact	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Pacific Airport Group (PAC) director report on this Form 3?

The director reports existing holdings of Series B and Series BB shares of Pacific Airport Group. These entries establish baseline ownership, including large indirect positions held through related entities such as AMP and Equipos del Aigua, plus a smaller block held directly.

How many Pacific Airport Group shares are linked to the Series BB position?

The filing shows Series BB shares indirectly owned through AMP, which are convertible into 75,791,619 Series B shares. The Series BB shares are convertible at any time, at the holder’s election, into an equal number of Series B shares and have no expiration date.

What direct and indirect Series B holdings does the PAC director report?

The director reports 602,731 Series B shares held directly. Indirectly, the filing shows 21,628,281 Series B shares via AMP and 140,007 Series B shares held through Equipos del Aigua, reflecting significant indirect exposure in addition to the direct position.

Who actually owns the AMP-held Pacific Airport Group securities?

The securities are owned directly by Aeropuertos Mexicanos del Pacifico (AMP). Through control of PAL Aeropuertos, the director may be deemed to beneficially own these AMP-held securities but disclaims beneficial ownership except for her pecuniary interest, as explicitly stated.

Does this Pacific Airport Group Form 3 show any insider buying or selling?

No. The Form 3 presents holding entries only, with no reported purchases, sales, exercises, gifts, or tax withholdings. It serves to disclose the director’s initial direct and indirect ownership in Pacific Airport Group rather than recording new trading activity.

How are the director’s indirect holdings in PAC structured?

Indirect holdings are reported as owned “By AMP” and “By EQUIPOS DEL AIGUA, S.A. DE C.V.”. The structure involves AMP and upstream entities, with the director’s potential beneficial ownership arising through control of PAL Aeropuertos, subject to the stated beneficial ownership disclaimer.