Televisa (NYSE: TV) director trims CPO stake, exercises 277,500 CPOs

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

GRUPO TELEVISA, S.A.B. director Guillermo Garcia Naranjo Alvarez reported mixed transactions in the company’s CPOs. On May 4, 2026, he made an open-market sale of 44,500 CPOs at an average price of $0.57 per CPO and remained a direct holder afterward.

On the same date, he also exercised 277,500 CPOs held through a Stock Purchase Plan trust at a conversion price of Ps.1.60 per CPO (about $0.09 using a Ps.17.5161 per US$ rate). Following these transactions, he directly held 838,275 CPOs, while the derivative position in the Stock Purchase Plan was reduced to zero as those CPOs were converted and partly sold by the plan’s trust on his behalf.

Insider Trade Summary

Net Seller: 44,500 shares ($25,365)

Net Sell 3 txns

Insider GARCIA NARANJO ALVAREZ Guillermo

Role null

Sold 44,500 shs ($25K)

Type	Security	Shares	Price	Value
X	CPOs held in Stock Purchase Plan	277,500	$0.00	--
X	CPOs	277,500	$0.09	$25K
Sale	CPOs	44,500	$0.57	$25K

Holdings After Transaction: CPOs held in Stock Purchase Plan — 0 shares (Indirect, Stock Purchase Plan); CPOs — 882,775 shares (Direct, null)

Footnotes (1)

Each Certificado de Participacion Ordinarios ("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. Reflects conversion from Mexican pesos into US dollars based on the currency conversion rate of 17.5161 Mexican Pesos per US dollar as of April 30, 2026. Price is the average price of all sales described in footnote 4, which were effected by the trust on behalf of the reporting person together with several similarly situated persons, without distinction among them, in a series of sales concluding on the transaction date. At the date of vesting, the trust that administers the Stock Purchase Plan for Directors, acting on behalf of the reporting person, will sell a portion of these CPOs to pay the price of Ps.1.60 per CPO and deliver the remainder of these CPOs to the reporting person. Not applicable.

Key Figures

CPOs sold: 44,500 CPOs Sale price: $0.57 per CPO CPOs exercised: 277,500 CPOs +3 more

6 metrics

CPOs sold 44,500 CPOs Open-market sale on May 4, 2026 at $0.57 per CPO

Sale price $0.57 per CPO Average price for 44,500 CPOs sold

CPOs exercised 277,500 CPOs Exercise of Stock Purchase Plan derivative position

Exercise price Ps.1.60 per CPO Conversion price for 277,500 CPOs in Stock Purchase Plan

FX rate used Ps.17.5161 per US$1 Conversion from Mexican pesos to US dollars as of April 30, 2026

Holdings after transactions 838,275 CPOs Direct CPOs held after May 4, 2026 transactions

Key Terms

CPOs, Certificado de Participacion Ordinarios, Stock Purchase Plan, derivative security, +1 more

5 terms

CPOs financial

"Each Certificado de Participacion Ordinarios ("CPO") represents twenty-five Series "A" Shares..."

Certificado de Participacion Ordinarios financial

"Each Certificado de Participacion Ordinarios ("CPO") represents twenty-five Series "A" Shares..."

Stock Purchase Plan financial

"CPOs held in Stock Purchase Plan"

derivative security financial

"Exercise of in-the-money or at-the-money derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

exercise of in-the-money derivative financial

"transaction_action": "in-the-money derivative exercise""

Form 4 Insider Transactions: What Each Field Means →

05/06/2026 - 05:37 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^*

GARCIA NARANJO ALVAREZ Guillermo

(Last)

(First)

(Middle)

C/O GRUPO TELEVISA, S.A.B.

AV. VASCO DE QUIROGA NO. 2000

(Street)

MEXICO CITY

01210

(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)

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

2a. Foreign Trading Symbol
[TLEVISACPO.MX]

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2026

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)
CPOs⁽¹⁾	05/04/2026		X		277,500	A	$0.09⁽²⁾	882,775	D
CPOs⁽¹⁾	05/04/2026		S		44,500	D	$0.57⁽²⁾⁽³⁾⁽⁴⁾	838,275	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)
CPOs held in Stock Purchase Plan⁽¹⁾	$0.09⁽²⁾	05/04/2026		X			277,500	04/10/2026	⁽⁵⁾	CPOs⁽¹⁾	277,500	$0⁽²⁾	0	I	Stock Purchase Plan⁽¹⁾

Explanation of Responses:

1. Each Certificado de Participacion Ordinarios ("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.

2. Reflects conversion from Mexican pesos into US dollars based on the currency conversion rate of 17.5161 Mexican Pesos per US dollar as of April 30, 2026.

3. Price is the average price of all sales described in footnote 4, which were effected by the trust on behalf of the reporting person together with several similarly situated persons, without distinction among them, in a series of sales concluding on the transaction date.

4. At the date of vesting, the trust that administers the Stock Purchase Plan for Directors, acting on behalf of the reporting person, will sell a portion of these CPOs to pay the price of Ps.1.60 per CPO and deliver the remainder of these CPOs to the reporting person.

5. Not applicable.

	/s/ Guillermo Garcia Naranjo Alvarez	05/06/2026
	** 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 transactions did GRUPO TELEVISA (TV) director Garcia Naranjo report?

He reported an open-market sale of 44,500 CPOs and the exercise of 277,500 CPOs from a Stock Purchase Plan. The exercise converted a derivative position into CPOs, while the sale modestly reduced his direct holdings but left a substantial stake.

How many GRUPO TELEVISA (TV) CPOs did the director sell and at what price?

He sold 44,500 CPOs in an open-market transaction at an average price of $0.57 per CPO. This was a cash sale of existing holdings and represents only a portion of his overall CPO position in the company.

What was the size and price of the CPO exercise in GRUPO TELEVISA (TV)?

He exercised 277,500 CPOs held through a Stock Purchase Plan at Ps.1.60 per CPO, equivalent to about $0.09 using a Ps.17.5161 per US dollar rate. This exercise converted a derivative plan position into CPOs allocated and sold via the plan’s trust.

How many GRUPO TELEVISA (TV) CPOs does the director hold after these transactions?

After the reported transactions, he directly holds 838,275 CPOs. The Stock Purchase Plan derivative position related to 277,500 CPOs was fully exercised, leaving no remaining derivative balance from that plan position in this filing.

What are GRUPO TELEVISA (TV) CPOs as described in the filing?

Each CPO, or Certificado de Participacion Ordinarios, represents underlying Series A, B, L, and D shares of GRUPO TELEVISA, S.A.B. Specifically, one CPO corresponds to twenty-five Series A, twenty-two Series B, thirty-five Series L, and thirty-five Series D shares.

What role does the Stock Purchase Plan trust play in these GRUPO TELEVISA (TV) transactions?

The trust that administers the Stock Purchase Plan for Directors acts on his behalf. At vesting, it sells a portion of CPOs to pay the Ps.1.60 per CPO purchase price and delivers the remaining CPOs to him, reflecting both payment and share delivery mechanics.