Telecom Argentina director sells 188K shares

TELECOM ARGENTINA SA (TEO) director Luis Alberto Gonzalez Baruki reported a sale of 188,500 Class B Shares on 2026-08-20.

Rhea-AI Filing Summary

TELECOM ARGENTINA SA (TEO) director Luis Alberto Gonzalez Baruki reported a sale of 188,500 Class B Shares on 2026-08-20. The shares were sold in open-market or private transactions at a weighted average price of $2.7798 per share, with prices ranging from $2.7655 to $2.7923. After this transaction, the reporting person held 0 Class B Shares. For reporting, the sale prices were converted to U.S. dollars using an exchange rate of US$1.00 = AR$1,497 as of the sale date.

Insider Trade Summary

Net Seller: 188,500 shares

Net Sell 1 txn

Insider Gonzalez Baruki Luis Alberto

Role Director

Sold 188,500 shs ($524K)

Type	Security	Shares	Price	Value
Sale	Class B Shares F1, F2	188,500	$2.7798	$524K

Holdings After Transaction: Class B Shares — 0 shares (Direct)

Footnotes (2)

1. F1. Weighted average price. These shares were sold in multiple transactions at prices ranging from $2.7655 and $2.7923, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.
2. F2. For reporting purposes, the sale price has been converted to U.S. dollars based on the exchange rate reported by Banco de la Nacion Argentina for the date of sale, which was US$1.00 = AR$1,497.

Key Figures

Shares sold: 188,500 Class B Shares Weighted average sale price: $2.7798 per share Sale price range: $2.7655 to $2.7923 per share +3 more

6 metrics

Shares sold 188,500 Class B Shares Non-derivative sale on 2026-08-20

Weighted average sale price $2.7798 per share Class B Shares sold on 2026-08-20

Sale price range $2.7655 to $2.7923 per share Multiple transactions included in the reported sale

Exchange rate US$1.00 = AR$1,497 Conversion rate used to report sale prices in U.S. dollars

Shares held after transaction 0 Class B Shares Post-transaction holdings of the reporting person

Net shares sold 188,500 shares Net sell direction reported in transaction summary

Key Terms

weighted average price, Class B Shares, exchange rate, Banco de la Nacion Argentina

4 terms

weighted average price financial

"These shares were sold in multiple transactions at prices ranging from $2.7655 and $2.7923, inclusive."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Class B Shares financial

"security_title: Class B Shares"

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.

exchange rate financial

"based on the exchange rate reported by Banco de la Nacion Argentina"

Exchange rate is the price of one currency expressed in another—for example, how many euros you receive for one US dollar. It matters to investors because changes in that price alter the reported profits, costs and value of assets for companies and portfolios that operate or hold money across borders; think of it like switching measurement units, where the same item can look bigger or smaller depending on the unit used.

Banco de la Nacion Argentina financial

"reported by Banco de la Nacion Argentina for the date of sale"

FAQ

What insider transaction did TEO report in this Form 4?

Luis Alberto Gonzalez Baruki, a director of TELECOM ARGENTINA SA (TEO), reported selling 188,500 Class B Shares on 2026-08-20 in an open-market or private transaction.

At what price were the TELECOM ARGENTINA SA (TEO) shares sold?

The 188,500 Class B Shares were sold at a weighted average price of $2.7798 per share, with individual transaction prices ranging from $2.7655 to $2.7923, inclusive.

How many TELECOM ARGENTINA SA (TEO) shares does the insider hold after this sale?

After the reported sale, Luis Alberto Gonzalez Baruki held 0 Class B Shares of TELECOM ARGENTINA SA (TEO) as indicated by the Form 4 data.

How was the sale price reported for the TEO Form 4 transaction?

For reporting purposes, the sale prices were converted to U.S. dollars using the exchange rate from Banco de la Nacion Argentina on the sale date, specifically US$1.00 = AR$1,497.

What does the weighted average price mean in the TEO insider sale?

The weighted average price of $2.7798 reflects multiple trades of TELECOM ARGENTINA SA (TEO) Class B Shares executed between $2.7655 and $2.7923. The insider notes that full per-trade pricing details are available upon request.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/26/2026 - 09:09 PM Accepted by SEC EDGAR 08/26/2026 - 09:08 PM Learn about SEC filing dates

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^*

Gonzalez Baruki Luis Alberto

(Last) (First) (Middle)

BOUCHARD 680, 14TH FLOOR

(Street)

BUENOS AIRES 00000

(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)
08/20/2026

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)
			Code	V	Amount	(A) or (D)	Price
Class B Shares	08/20/2026		S		188,500	D	$2.7798(1)(2)	0	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Weighted average price. These shares were sold in multiple transactions at prices ranging from $2.7655 and $2.7923, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

2. For reporting purposes, the sale price has been converted to U.S. dollars based on the exchange rate reported by Banco de la Nacion Argentina for the date of sale, which was US$1.00 = AR$1,497.

	/s/ Luis Fernando Rial Ubago, Attorney-in-Fact	08/26/2026
	** 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)