Director boosts Telecom Argentina (TEO) stake with 38,890 ADR open‑market buy

Filing Impact

(High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Telecom Argentina SA director Alejandro Alberto Urricelqui increased his personal investment by buying additional American Depository Receipts (ADRs) of the company. He purchased 38,890 ADRs representing Class B Shares in an open‑market transaction at a reported price of $13.43 per ADR.

After this purchase, his direct holdings rose to 399,348 Class B Shares, including 384,890 Class B Shares held in the form of 76,978 ADRs, with each ADR representing five Class B Shares. This filing reflects a net increase in his ownership position with no derivative positions reported.

Insider Trade Summary

Net Buyer: 38,890 shares ($522,293)

Net Buy 1 txn

Insider Urricelqui Alejandro Alberto

Role null

Bought 38,890 shs ($522K)

Type	Security	Shares	Price	Value
Purchase	Class B Shares	38,890	$13.43	$522K

Holdings After Transaction: Class B Shares — 399,348 shares (Direct, null)

Footnotes (1)

The shares purchased were in the form of American Depository Receipts ("ADRs"). The reported price is the price of each ADR purchased. The securities reported herein include 384,890 Class B shares held in the form of 76,978 ADRs. Each ADR represents five Class B shares.

Key Figures

ADRs purchased: 38,890 ADRs Purchase price: $13.43 per ADR Total Class B holdings: 399,348 Class B Shares +3 more

6 metrics

ADRs purchased 38,890 ADRs Open-market purchase of Telecom Argentina ADRs

Purchase price $13.43 per ADR Reported price for each ADR purchased

Total Class B holdings 399,348 Class B Shares Direct holdings after the reported transaction

ADR share equivalence 5 Class B Shares per ADR Each ADR represents five underlying Class B Shares

Class B via ADRs 384,890 Class B Shares Held in the form of 76,978 ADRs

ADRs held 76,978 ADRs ADRs corresponding to 384,890 Class B Shares

Key Terms

American Depository Receipts ("ADRs"), Class B shares, open-market purchase, Purchase in open market or private transaction, +1 more

5 terms

American Depository Receipts ("ADRs") financial

"The shares purchased were in the form of American Depository Receipts ("ADRs")."

Class B shares financial

"The securities reported herein include 384,890 Class B shares held in the form of 76,978 ADRs."

Class B shares are one type of a company’s stock that carries a specific set of rights — often different voting power or dividend rules compared with other classes. For investors, that affects influence over company decisions and potential income: owning Class B might mean fewer or more votes per share or different claim on profits, like having a different seat at a decision table or a different slice of the payout pie.

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Purchase in open market or private transaction financial

"transaction_code_description": "Purchase in open market or private transaction""

direct ownership financial

""ownership_type": "direct""

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Form 4 Insider Transactions: What Each Field Means →

06/04/2026 - 05:43 PM

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Urricelqui Alejandro Alberto

(Last)

(First)

(Middle)

GENERAL HORNOS 690

(Street)

BUENOS AIRES

C1272ACK

(City)

(State)

(Zip)

ARGENTINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
TELECOM ARGENTINA SA [ TEO ]

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

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

2a. Foreign Trading Symbol
[TECO2]

3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Shares	06/02/2026		P		38,890	A	$13.43⁽¹⁾	399,348⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The shares purchased were in the form of American Depository Receipts ("ADRs"). The reported price is the price of each ADR purchased.

2. The securities reported herein include 384,890 Class B shares held in the form of 76,978 ADRs. Each ADR represents five Class B shares.

	/s/ Luis Fernando Rial Ubago, Attorney-in-Fact	06/04/2026
	** 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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Telecom Argentina (TEO) report for Alejandro Alberto Urricelqui?

Telecom Argentina director Alejandro Alberto Urricelqui reported an open‑market purchase of 38,890 American Depository Receipts (ADRs). These ADRs represent Class B Shares of the company and increase his direct equity stake, signaling a larger personal exposure to Telecom Argentina’s performance.

How many Telecom Argentina (TEO) shares does the director hold after this Form 4?

Following the transaction, Alejandro Alberto Urricelqui holds 399,348 Class B Shares. This total includes 384,890 Class B Shares held through 76,978 ADRs, with each ADR representing five Class B Shares, consolidating his direct ownership position in Telecom Argentina.

At what price did the Telecom Argentina (TEO) director buy the ADRs?

The director’s 38,890 Telecom Argentina ADRs were purchased at a reported price of $13.43 per ADR. The filing specifies that this price reflects the cost per ADR, each of which represents five underlying Class B Shares of the company.

What type of security did the Telecom Argentina (TEO) insider buy?

The insider bought American Depository Receipts (ADRs) representing Telecom Argentina Class B Shares. The filing notes that 384,890 Class B Shares are held as 76,978 ADRs, with each ADR corresponding to five Class B Shares, providing U.S. investors depositary‑traded exposure.

Was the Telecom Argentina (TEO) insider transaction an open‑market purchase or another type?

The transaction is classified as an open‑market purchase under code P. This means the director acquired the 38,890 ADRs through market or private transactions, rather than via option exercises, grants, or other derivative or compensation‑related mechanisms.

Does the Telecom Argentina (TEO) Form 4 show any derivative positions for the director?

The Form 4 derivative section is empty, indicating no derivative securities, such as options or warrants, are reported. The filing instead focuses solely on the direct ownership of Class B Shares and the corresponding ADR holdings following the reported open‑market purchase.