How are VLRS American Depositary Shares related to Series A common stock?

The filing explains that each American Depositary Share represents ten Ordinary Participacion Certificates (CPOs), and each CPO represents the economic interest in one Series A share of common stock. This structure links ADS holdings economically to underlying Series A shares.

VLRS director reports 6.19M shares and RSUs

Controladora Vuela Compania de Aviacion, S.A.B. de C.V. director Harry F. Krensky has filed an initial ownership report showing existing equity and awards in VLRS.

Accepted by SEC EDGAR 03/18/2026 - 08:47 PM EDT

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Form Type

Rhea-AI Filing Summary

Controladora Vuela Compania de Aviacion, S.A.B. de C.V. director Harry F. Krensky has filed an initial ownership report showing existing equity and awards in VLRS. He directly holds 6,191,840 Series A shares of common stock, owned through American Depositary Shares, with each ADS ultimately representing one Series A share.

He also holds restricted securities units representing 111,550 underlying Series A shares and another block representing 120,850 underlying Series A shares. According to the disclosure, these restricted securities units have an exercise price of $0.0000 per share and will vest on April 28, 2026, providing a contingent right to receive Series A common shares.

Insider Trade Summary

Holdings reported, no transactions

Holdings

Insider Krensky Harry F.

Role Director

Type	Security	Shares	Price	Value
Holding	Restricted Securities Units	--	--	--
Holding	Restricted Securities Units	--	--	--
Holding	Series A shares of common stock	--	--	--

Holdings: Restricted Securities Units — 232,400 units (Direct); Series A shares of common stock — 6,191,840 shares (Direct)

Footnotes (3)

F1. (1) Shares owned through American Depositary Shares (ADSs). Each ADS representing ten (10) Ordinary Participacion Certificates (Certificados de Participacion Ordinarios) (CPOs). Each CPO representing the economic interest in one (1) share of Series A shares of common stock.
F2. (2) The restricted securities units will vest on April 28, 2026 and have no expiration date.
F3. (3) Each restricted securities unit represents a contingent right to receive on Series A share of common stock.

FAQ

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

What does Harry F. Krensky report owning in VLRS on this Form 3?

Harry F. Krensky reports direct ownership of 6,191,840 Series A shares of common stock in Controladora Vuela Compania de Aviacion (VLRS), held through American Depositary Shares, plus restricted securities units tied to additional Series A shares that vest in the future.

How many VLRS restricted securities units does Harry F. Krensky hold?

He holds two blocks of restricted securities units, one tied to 111,550 underlying Series A shares and another tied to 120,850 underlying Series A shares. Each restricted securities unit represents a contingent right to receive one Series A share of common stock upon vesting.

When do Harry F. Krensky’s VLRS restricted securities units vest?

The restricted securities units reported by Harry F. Krensky are scheduled to vest on April 28, 2026. After vesting, each unit represents a contingent right to receive one Series A share of common stock in Controladora Vuela Compania de Aviacion, with no stated expiration date.

Does this VLRS Form 3 show Harry F. Krensky buying or selling shares?

The Form 3 reflects holdings, not new purchases or sales. It lists existing direct ownership of Series A common shares and restricted securities units, without reporting open-market buys, open-market sales, gifts, tax withholding, or other transactional changes in his VLRS position.

What is the exercise price of Harry F. Krensky’s VLRS restricted securities units?

The restricted securities units carry an exercise price of $0.0000 per underlying Series A share. This means, upon vesting, the contingent right to receive Series A common stock does not require additional cash payment according to the terms described in the disclosure.

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

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Krensky Harry F.

(Last)

(First)

(Middle)

AV. ANTONIO DOVALI JAIME 70, TOWER B, 13

FLOOR, COLONIA ZEDEC SANTA FE

(Street)

MEXICO CITY

01210

(City)

(State)

(Zip)

MEXICO

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Controladora Vuela Compania de Aviacion, S.A.B. de C.V. [ VLRS ]

3a. Foreign Trading Symbol
[VOLAR]

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Series A shares of common stock	6,191,840⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Restricted Securities Units	⁽²⁾	⁽²⁾	Series A shares of common stock	111,550	⁽³⁾	D
Restricted Securities Units	⁽²⁾	⁽²⁾	Series A shares of common stock	120,850	⁽³⁾	D

Explanation of Responses:

1. (1) Shares owned through American Depositary Shares (ADSs). Each ADS representing ten (10) Ordinary Participacion Certificates (Certificados de Participacion Ordinarios) (CPOs). Each CPO representing the economic interest in one (1) share of Series A shares of common stock.

2. (2) The restricted securities units will vest on April 28, 2026 and have no expiration date.

3. (3) Each restricted securities unit represents a contingent right to receive on Series A share of common stock.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Isela Cervantes Rodriguez, Attorney-in-fact	03/18/2026
	** 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 5 (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 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR