Telecom Argentina officer buys 7,000 Class B shares

34,500 Class B shares were represented by 6,900 ADRs, with each ADR representing five Class B shares.

Rhea-AI Filing Summary

Telecom Argentina SA (TEO) officer Martin Andres Heine, identified as Director of Digital Growth and Fintech, purchased 7,000 Class B shares on October 9, 2026. The reported weighted-average purchase price was $2.6661 per share, with transaction prices ranging from $2.6648 to $2.6664; the prices were converted to U.S. dollars using the purchase-date exchange rate of US$1.00 = AR$1517. He reported direct holdings of 41,500 Class B shares following the purchase, and no Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Buyer: 7,000 shares

Net Buy 1 txn

Insider Heine Martin Andres

Role See Remarks

Bought 7,000 shs ($19K)

Type	Security	Shares	Price	Value
Purchase	Class B Shares F1, F2, F3	7,000	$2.6661	$19K

Holdings After Transaction: Class B Shares — 41,500 shares (Direct)

Footnotes (3)

1. F1. The securities reported herein include 34,500 Class B shares held in the form of 6,900 American Depository Receipts ("ADRs"). Each ADR represents five Class B shares.
2. F2. Weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.6648 and $2.6664, 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 purchased at each separate price within the range set forth in this footnote (2) to this Form 4.
3. F3. For reporting purposes, the purchase price has been converted to U.S. dollars based on the exchange rate reported by Banco de la Nacion Argentina for the date of purchase, which was US$1.00 = AR$1517.

Key Figures

Shares purchased: 7,000 shares Weighted-average purchase price: $2.6661 per share Reported transaction price range: $2.6648 to $2.6664 per share +4 more

7 metrics

Shares purchased 7,000 shares October 9, 2026

Weighted-average purchase price $2.6661 per share October 9, 2026; converted to U.S. dollars

Reported transaction price range $2.6648 to $2.6664 per share Prices in the multiple purchase transactions

Direct holdings after purchase 41,500 Class B shares Following the October 9, 2026 purchase

Class B shares held as ADRs 34,500 shares Reported securities include shares held in ADR form

ADRs 6,900 ADRs Representing Class B shares

Class B shares per ADR 5 shares per ADR ADR ratio

Key Terms

American Depository Receipts, Weighted average price, exchange rate

3 terms

American Depository Receipts financial

"6,900 American Depository Receipts ("ADRs")"

American Depository Receipts (ADRs) are certificates issued by a U.S. bank that represent ownership of shares in a foreign company, allowing those shares to trade on U.S. exchanges in dollars. They matter to investors because they make it easier to buy, sell and receive dividends from foreign firms without dealing with foreign exchanges or currencies, while still carrying risks like exchange-rate swings and differing foreign regulations.

Weighted average price financial

"Weighted average price."

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.

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many TEO shares did Martin Andres Heine buy and at what price?

Martin Andres Heine purchased 7,000 Class B shares on October 9, 2026, at a reported weighted-average price of $2.6661 per share. The transaction prices ranged from $2.6648 to $2.6664, and no Rule 10b5-1 plan is reported.

How many TEO Class B shares did Martin Andres Heine hold through ADRs?

The securities reported included 34,500 Class B shares held as 6,900 ADRs. Each ADR represents five Class B shares.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 10/13/2026 - 09:46 PM EDT Accepted by SEC EDGAR 10/13/2026 - 09:46 PM EDT 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^*

Heine Martin Andres

(Last) (First) (Middle)

GENERAL HORNOS 690

(Street)

BUENOS AIRES CABA 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)

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

2a. Foreign Trading Symbol
[TECO2]

3. Date of Earliest Transaction (Month/Day/Year)
10/09/2026

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(1)	10/09/2026		P		7,000	A	$2.6661(2)(3)	41,500	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. The securities reported herein include 34,500 Class B shares held in the form of 6,900 American Depository Receipts ("ADRs"). Each ADR represents five Class B shares.

2. Weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.6648 and $2.6664, 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 purchased at each separate price within the range set forth in this footnote (2) to this Form 4.

3. For reporting purposes, the purchase price has been converted to U.S. dollars based on the exchange rate reported by Banco de la Nacion Argentina for the date of purchase, which was US$1.00 = AR$1517.

Remarks:

Director of Digital Growth and Fintech.

	/s/ Luis Fernando Rial Ubago, Attorney-in-Fact	10/13/2026
	** 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)