VLRS (VLRS) COO reports common shares, RSUs and share appreciation rights

Rhea-AI Filing Summary

Controladora Vuela Compania de Aviacion (VLRS) Chief Operating Officer Jose Luis Suarez Duran filed a Form 3 reporting his existing equity interests. He directly holds 785,238 Series A shares of common stock.

He also holds restricted securities units that together relate to 199,370, 346,061 and 560,781 underlying Series A shares, vesting beginning on November 6, 2026 in different installment schedules and with no expiration date. In addition, he holds share appreciation rights over 31,221 underlying Series A shares with an exercise price of MXN 14.8000 per share, exercisable from February 18, 2017 until February 18, 2031, providing a cash payment based on stock price increases.

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

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1. Name and Address of Reporting Person^*

Duran Jose Luis Suarez

(Last) (First) (Middle)

AV. ANTONIO DOVALI JAIME NO. 70

13 FL, TWR B, 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)

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

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	785,238	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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Securties Units	(1)	(1)	Series A shares of common stock	199,370	(2)	D
Restricted Securties Units	(3)	(3)	Series A shares of common stock	346,061	(2)	D
Restricted Securties Units	(4)	(4)	Series A shares of common stock	560,781	(2)	D
Share Appreciation Rights(5)	02/18/2017	02/18/2031	Series A shares of common stock	31,221	$14.8(6)	D

Explanation of Responses:

1. The restricted securities units will vest on November 6, 2026 and have no expiration date.

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

3. The restricted securities units will vest in two equal annual installments beginning on November 6, 2026 and have no expiration date.

4. The restricted securities units will vest in three equal annual installments beginning on November 6, 2026 and have no expiration date.

5. Provides the right of cash payment determined based on the increase of the stock price between the grant date and the exercise.

6. The price shown is in Mexican Pesos.

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)

FAQ

What does the VLRS Form 3 filing by COO Jose Luis Suarez Duran report?

The Form 3 reports Jose Luis Suarez Duran’s existing equity holdings in VLRS. It lists directly owned Series A common shares, multiple restricted securities unit awards, and share appreciation rights, giving investors a snapshot of his current economic exposure to the company’s stock.

How many VLRS Series A common shares does the COO directly hold?

The COO directly holds 785,238 Series A shares of VLRS common stock. This figure reflects his immediate ownership position, separate from restricted securities units and share appreciation rights that could add future exposure as they vest or become exercisable over time.

What restricted securities units are disclosed for the VLRS COO in this Form 3?

The filing discloses three blocks of restricted securities units tied to 199,370, 346,061 and 560,781 underlying Series A shares. These units vest starting on November 6, 2026, in varying installment schedules, and represent contingent rights to receive VLRS Series A common shares upon vesting.

When do the VLRS restricted securities units for the COO vest?

The restricted securities units begin vesting on November 6, 2026. One grant vests entirely on that date, another in two equal annual installments starting then, and a third in three equal annual installments, all with no stated expiration date after vesting.

What are the terms of the VLRS share appreciation rights held by the COO?

The COO holds share appreciation rights over 31,221 underlying Series A shares with a MXN 14.8000 exercise price. They are exercisable from February 18, 2017, until February 18, 2031, and provide a cash payment based on the stock price increase between grant and exercise.

Do the VLRS restricted securities units convert into common stock?

Each restricted securities unit represents a contingent right to receive one Series A share of VLRS common stock. Actual delivery depends on the units vesting according to their schedules beginning November 6, 2026, after which they have no expiration date specified in the filing.