Televisa (NYSE: TV) director exits 565,084 CPO CPO stake

Rhea-AI Filing Summary

Grupo Televisa director Denise Maerker Salmon exercised derivative awards for 565,084 CPOs at $0.09 per CPO and then sold the same 565,084 CPOs at a volume‑weighted average price of $0.58 on March 27, 2026, leaving no CPO holdings reported after these transactions.

Insights

Insider transactions analyst

Director exercised 565,084 CPOs then sold the entire position.

Denise Maerker Salmon, a director of Grupo Televisa, S.A.B., exercised derivative awards linked to 565,084 CPOs at an effective price of $0.09 per CPO. The derivative entries reference a Long Term Retention Plan with exercise prices of 0.0900 and expiration dates between 2026 and 2028.

On the same date, she executed an open‑market sale of 565,084 CPOs at a volume‑weighted average price of $0.58 per CPO, based on Mexican peso trades between 10.3200 and 10.4400 at an exchange rate of 18.0240 pesos per US dollar. The filing shows zero CPOs and no remaining derivatives held after these transactions.

Insider Trade Summary

Net Seller: 565,084 shares ($327,749)

Net Sell 7 txns

Insider MAERKER SALMON Denise

Role null

Sold 565,084 shs ($328K)

Type	Security	Shares	Price	Value
X	CPOs held in Long Term Retention Plan	139,026	$0.00	--
X	CPOs held in Long Term Retention Plan	94,286	$0.00	--
X	CPOs held in Long Term Retention Plan	97,142	$0.00	--
X	CPOs held in Long Term Retention Plan	140,580	$0.00	--
X	CPOs held in Long Term Retention Plan	94,050	$0.00	--
X	CPOs	565,084	$0.09	$51K
Sale	CPOs	565,084	$0.58	$328K

Holdings After Transaction: CPOs held in Long Term Retention Plan — 0 shares (Direct, null); CPOs — 565,084 shares (Direct, null)

Footnotes (1)

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 18.0240 Mexican pesos per US dollar as of March 27, 2026. Price is the volume weighted average selling price of all sales by the reporting person on the transaction date. Actual prices ranged from 10.3200 Mexican pesos to 10.4400 Mexican pesos. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

Key Figures

CPOs sold: 565,084 CPOs Sale VWAP: $0.58 per CPO Exercise price: $0.09 per CPO +4 more

7 metrics

CPOs sold 565,084 CPOs Open‑market sale on March 27, 2026

Sale VWAP $0.58 per CPO Volume‑weighted average selling price on March 27, 2026

Exercise price $0.09 per CPO Conversion or exercise price for 565,084 CPO-linked derivatives

Peso price range 10.3200–10.4400 MXN per CPO Actual trade prices underlying the VWAP

FX rate 18.0240 MXN per USD Currency conversion rate as of March 27, 2026

Net share change -565,084 CPOs NetBuySellShares from transactionSummary (net-sell)

Post-transaction holdings 0 CPOs Total shares following transaction line for non-derivative holdings

Key Terms

CPOs, Long Term Retention Plan, volume weighted average selling price, derivative security, +1 more

5 terms

CPOs financial

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

Long Term Retention Plan financial

"CPOs held in Long Term Retention Plan"

volume weighted average selling price financial

"Price is the volume weighted average selling price of all sales by the reporting person..."

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.

net-sell financial

"netBuySellDirection": "net-sell""

Form 4 Insider Transactions: What Each Field Means →

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^*

MAERKER SALMON Denise

(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)
03/27/2026

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
CPOs(1)	03/27/2026		X		565,084	A	$0.09(2)	565,084	D
CPOs(1)	03/27/2026		S		565,084	D	$0.58(2)(3)	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
CPOs held in Long Term Retention Plan(1)(2)	$0.09(2)	03/27/2026		X			139,026	04/10/2023	04/10/2026	CPOs(1)(2)	139,026	$0(2)	0	D
CPOs held in Long Term Retention Plan(1)(2)	$0.09(2)	03/27/2026		X			94,286	04/10/2024	04/10/2027	CPOs(1)(2)	94,286	$0(2)	0	D
CPOs held in Long Term Retention Plan(1)(2)	$0.09(2)	03/27/2026		X			97,142	04/10/2025	04/10/2028	CPOs(1)(2)	97,142	$0(2)	0	D
CPOs held in Long Term Retention Plan(1)(2)	$0.09(2)	03/27/2026		X			140,580	04/10/2024	04/10/2027	CPOs(1)(2)	140,580	$0(2)	0	D
CPOs held in Long Term Retention Plan(1)(2)	$0.09(2)	03/27/2026		X			94,050	04/10/2025	04/10/2028	CPOs(1)(2)	94,050	$0(2)	0	D

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 18.0240 Mexican pesos per US dollar as of March 27, 2026.

3. Price is the volume weighted average selling price of all sales by the reporting person on the transaction date. Actual prices ranged from 10.3200 Mexican pesos to 10.4400 Mexican pesos. The reporting person hereby undertakes to provide upon request of the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

	/s/ Denise Maerker Salmon	04/21/2026
	** 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)

FAQ

What did Grupo Televisa (TV) director Denise Maerker Salmon report in this Form 4?

She reported exercising derivative awards for 565,084 CPOs at about $0.09 per CPO and selling 565,084 CPOs at a volume‑weighted average price of $0.58 on March 27, 2026, resulting in no CPO holdings reported afterward.

How many Grupo Televisa (TV) CPOs did the director sell and at what price?

The director sold 565,084 CPOs in an open‑market transaction at a volume‑weighted average price of $0.58 per CPO. Footnotes state underlying peso prices ranged from 10.3200 to 10.4400, converted using an 18.0240 pesos‑per‑US‑dollar exchange rate as of March 27, 2026.

What derivative exercises did the Grupo Televisa (TV) Form 4 disclose?

It disclosed several X‑code exercises from a Long Term Retention Plan, totaling 565,084 CPOs at a conversion or exercise price of 0.0900. These derivative securities had exercise dates in 2023–2025 and expiration dates in 2026–2028, and all appear fully exercised in this filing.

Does the Grupo Televisa (TV) director still hold CPOs after these transactions?

Following the reported sale, the Form 4 shows total CPOs following the transaction as 0.0000 for the non‑derivative holding line. The derivativeSummary section is empty, indicating no remaining derivative securities from the Long Term Retention Plan are reported in this filing.

What does each CPO of Grupo Televisa (TV) represent according to the Form 4?

A footnote explains that 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., giving investors a bundled interest across multiple share classes.

How is the reported CPO sale price for Grupo Televisa (TV) calculated?

The sale price per CPO of $0.58 reflects a volume‑weighted average of all sales that day. The underlying trades occurred between 10.3200 and 10.4400 Mexican pesos per CPO, converted to US dollars using a rate of 18.0240 pesos per US dollar.