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Televisa (TV) Co-CEO gets massive mandatory convertible and CPO awards

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

GRUPO TELEVISA, S.A.B. Co‑Chief Executive Officer Alfonso de Angoitia reported awards of several derivative securities tied to the company’s equity. The largest is a zero‑coupon issue of Mandatory Convertible Debentures that will be mandatorily converted into 6,307,262,714 Series "A" Shares after one year, at a stated conversion price of $0.0048 per share.

He also received indirect awards of 12,574,570 CPOs and 12,066,300 CPOs under a Long‑Term Retention Plan, with conversion or exercise prices of $0.59 and $0.09 per CPO, respectively, plus 268,470 CPOs in a Stock Purchase Plan at a $0.09 conversion or exercise price. These are compensation‑related grants, not open‑market purchases or sales.

Positive

  • None.

Negative

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Insights

CEO receives large equity-linked awards, including sizable mandatory convertibles.

The reporting by Grupo Televisa shows Co‑CEO Alfonso de Angoitia acquiring several equity-linked instruments as compensation. The most significant is the zero‑coupon Mandatory Convertible Debenture issue, which will convert into 6,307,262,714 Series "A" Shares after one year at a stated $0.0048 conversion price.

Additional indirect awards cover Long‑Term Retention and Stock Purchase Plans, with CPO grants at conversion or exercise prices of $0.59 and $0.09. These are grants, not market trades, so they mainly reflect incentive design and future equity exposure, rather than a directional view on the current share price.

Insider DE ANGOITIA ALFONSO
Role Co-Chief Executive Officer
Type Security Shares Price Value
Grant/Award CPOs held in Stock Purchase Plan 268,470 $0.00 --
Grant/Award CPOs held in Long Term Retention Plan 12,066,300 $0.00 --
Grant/Award CPOs held in Long-Term Retention Plan 12,574,570 $0.00 --
Grant/Award Mandatory Convertible Debentures 0 $30,518,001.00 --
Holdings After Transaction: CPOs held in Stock Purchase Plan — 268,470 shares (Indirect, Stock Purchase Plan); CPOs held in Long Term Retention Plan — 12,066,300 shares (Indirect, Long-Term Retention Plan); CPOs held in Long-Term Retention Plan — 12,574,570 shares (Indirect, Long-Term Retention Plan); Mandatory Convertible Debentures — 6,307,262,714 shares (Direct, null)
Footnotes (1)
  1. The zero-coupon mandatory convertible debentures (obligaciones forzosamente convertibles or "Mandatory Convertible Debentures") do not accrue interest and will be mandatorily converted into Series "A" Shares of Grupo Televisa, S.A.B. Reflects conversion from Mexican pesos into US dollars based on the currency conversion rate of 17.3498 Mexican Pesos per US dollar as of May 29, 2026. Represents the US dollar equivalent of the total subscription price of the Mandatory Convertible Debentures. The subscription price of the Mandatory Convertible Debentures was determined based on market price, taking into account the volume-weighted average trading price of the ordinary participation certificates ("CPOs") during the 30 calendar days prior to the issuance of the Mandatory Convertible Debentures, divided equally by the one hundred seventeen shares represented by each CPO (consisting of twenty-five Series "A" Shares, twenty-two Series "B" Shares, thirty-five Series "L" Shares and thirty-five Series "D" Shares of Grupo Televisa, S.A.B.). On the date that is one year following their issuance, the Mandatory Convertible Debentures will be mandatorily converted into Series "A" Shares. Each CPO represents twenty-five Series "A" Shares, twenty-two Series "B" Shares, thirty-five Series "L" Shares and thirty-five Series "D" Shares of Grupo Televisa, S.A.B. Not applicable.
Mandatory Convertible underlying shares 6,307,262,714 Series "A" Shares Underlying shares for zero-coupon Mandatory Convertible Debentures; mandatory conversion after one year
Mandatory Convertible subscription price $30,518,001 US dollar equivalent of total subscription price for Mandatory Convertible Debentures
Mandatory Convertible conversion price $0.0048 per share Conversion price into Series "A" Shares for the Mandatory Convertible Debentures
Long-Term Retention Plan CPO grant 1 12,574,570 CPOs CPOs in Long-Term Retention Plan with $0.59 conversion or exercise price
Long-Term Retention Plan CPO grant 2 12,066,300 CPOs CPOs in Long-Term Retention Plan with $0.09 conversion or exercise price
Stock Purchase Plan CPO grant 268,470 CPOs CPOs in Stock Purchase Plan with $0.09 conversion or exercise price
Mandatory Convertible Debentures financial
"The zero-coupon mandatory convertible debentures (obligaciones forzosamente convertibles or "Mandatory Convertible Debentures") do not accrue interest"
zero-coupon financial
"The zero-coupon mandatory convertible debentures ... do not accrue interest and will be mandatorily converted"
volume-weighted average trading price financial
"taking into account the volume-weighted average trading price of the ordinary participation certificates"
Volume-weighted average trading price (VWAP) is the average price of a stock over a trading period, where each trade’s price is weighted by how many shares changed hands, so big trades move the average more than small ones. Investors use VWAP as a benchmark to tell whether they bought or sold at a good price compared with the market’s trading activity—like checking if your grocery bill was close to the store’s typical daily average when many customers shopped.
ordinary participation certificates ("CPOs") financial
"price of the ordinary participation certificates ("CPOs") during the 30 calendar days prior"
Series "A" Shares financial
"will be mandatorily converted into Series "A" Shares of Grupo Televisa, S.A.B."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
DE ANGOITIA ALFONSO
(Last)(First)(Middle)
C/O GRUPO TELEVISA, S.A.B.
AV. VASCO DE QUIROGA NO. 2000
(Street)
MEXICO CITY01210
(City)(State)(Zip)
MEXICO
(Country)		2. Issuer Name and Ticker or Trading Symbol
GRUPO TELEVISA, S.A.B. [ TV ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Co-Chief Executive Officer
2a. Foreign Trading Symbol
[TLEVISACPO.MX]
3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Mandatory Convertible Debentures(1)$0.0048(2)(4)(5)06/03/2026A$30,518,001(2)(3)(4)06/03/2027 (5)Series "A" Shares(1)(5)6,307,262,714$30,518,001(2)(3)(4)(5)6,307,262,714D
CPOs held in Stock Purchase Plan(6)$0.09(2)06/05/2026A268,47004/10/2027 (7)CPOs(6)268,470$0(2)268,470IStock Purchase Plan(6)
CPOs held in Long Term Retention Plan(6)$0.09(2)06/05/2026A12,066,30004/10/202904/10/2032CPOs(6)12,066,300$0(2)12,066,300ILong-Term Retention Plan
CPOs held in Long-Term Retention Plan(6)$0.59(2)06/05/2026A12,574,57004/10/202904/10/2032CPOs(6)12,574,570$0(2)12,574,570ILong-Term Retention Plan
Explanation of Responses:
1. The zero-coupon mandatory convertible debentures (obligaciones forzosamente convertibles or "Mandatory Convertible Debentures") do not accrue interest and will be mandatorily converted into Series "A" Shares of Grupo Televisa, S.A.B.
2. Reflects conversion from Mexican pesos into US dollars based on the currency conversion rate of 17.3498 Mexican Pesos per US dollar as of May 29, 2026.
3. Represents the US dollar equivalent of the total subscription price of the Mandatory Convertible Debentures.
4. The subscription price of the Mandatory Convertible Debentures was determined based on market price, taking into account the volume-weighted average trading price of the ordinary participation certificates ("CPOs") during the 30 calendar days prior to the issuance of the Mandatory Convertible Debentures, divided equally by the one hundred seventeen shares represented by each CPO (consisting of twenty-five Series "A" Shares, twenty-two Series "B" Shares, thirty-five Series "L" Shares and thirty-five Series "D" Shares of Grupo Televisa, S.A.B.).
5. On the date that is one year following their issuance, the Mandatory Convertible Debentures will be mandatorily converted into Series "A" Shares.
6. Each CPO represents twenty-five Series "A" Shares, twenty-two Series "B" Shares, thirty-five Series "L" Shares and thirty-five Series "D" Shares of Grupo Televisa, S.A.B.
7. Not applicable.
/s/ Alfonso de Angoitia Noriega06/05/2026
** Signature of Reporting PersonDate
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 did Grupo Televisa (TV) executive Alfonso de Angoitia report in this Form 4?

Alfonso de Angoitia reported acquiring several equity-linked awards, including zero-coupon Mandatory Convertible Debentures and multiple CPO grants under Long-Term Retention and Stock Purchase Plans. These are compensation-related grants, not open-market trades, increasing his future exposure to Grupo Televisa equity.

How large is the Mandatory Convertible Debenture position reported by Grupo Televisa (TV)?

The Mandatory Convertible Debentures reported will be mandatorily converted into 6,307,262,714 Series "A" Shares. The filing states a conversion price of $0.0048 per share and a total subscription price of $30,518,001, determined with reference to market prices of Grupo Televisa CPOs.

What CPO awards did the Grupo Televisa (TV) Co-CEO receive in the Long-Term Retention Plan?

The Co-CEO received two indirect CPO awards in the Long-Term Retention Plan: 12,574,570 CPOs with a $0.59 conversion or exercise price and 12,066,300 CPOs with a $0.09 conversion or exercise price. Both are derivative grants tied to Grupo Televisa equity performance.

What is the Stock Purchase Plan award disclosed for Grupo Televisa (TV)?

The filing shows an indirect award of 268,470 CPOs held in a Stock Purchase Plan, with a $0.09 conversion or exercise price. This award adds to the executive’s equity-linked compensation but does not represent a market purchase or sale of existing Grupo Televisa shares.

How are Grupo Televisa (TV) CPOs structured according to the filing footnotes?

Each CPO represents a bundle of underlying shares: twenty-five Series "A" Shares, twenty-two Series "B" Shares, thirty-five Series "L" Shares, and thirty-five Series "D" Shares of Grupo Televisa. This structure means CPO-based awards translate into exposure across multiple share series.

Do the Grupo Televisa (TV) Mandatory Convertible Debentures pay interest?

The filing describes the Mandatory Convertible Debentures as zero-coupon instruments that do not accrue interest. Instead, they are designed to be mandatorily converted into Series "A" Shares on the date that is one year following their issuance, providing equity rather than periodic income.