Controladora Vuela (NYSE: VLRS) CEO details major equity and award holdings

Rhea-AI Filing Summary

Controladora Vuela Compania de Aviacion, S.A.B. de C.V. President and CEO Enrique Javier Beltranena filed a Form 3 reporting his initial beneficial ownership in the company’s securities. This filing lists his direct holdings of Series A common stock and multiple equity-based awards.

He directly holds 13,866,647 Series A shares of common stock. In addition, he holds restricted securities units linked to Series A shares, including awards covering 98,405 shares that vest on April 26, 2026, and other units covering 601,547, 1,044,150, and 1,692,012 underlying shares with vesting beginning on November 6, 2026 in one to three annual installments and no expiration dates.

He also holds Share Appreciation Rights over 311,968 underlying Series A shares with an exercise price of 14.8000 (in Mexican pesos) and an expiration date of February 18, 2031. Each restricted securities unit represents a contingent right to receive one Series A share of common stock, and the share appreciation rights provide a cash payment based on the increase in the stock price between the grant date and exercise.

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^*

Mejicano Enrique Javier Beltranena

(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)

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

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	13,866,647	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 (Annual Fee)	(1)	(1)	Series A shares of common stock	98,405	(2)	D
Restricted Securties Units	(3)	(3)	Series A shares of common stock	601,547	(2)	D
Restricted Securties Units	(4)	(4)	Series A shares of common stock	1,044,150	(2)	D
Restricted Securties Units	(5)	(5)	Series A shares of common stock	1,692,012	(2)	D
Share Appreciation Rights(6)	02/18/2017	02/18/2031	Series A shares of common stock	311,968	$14.8(7)	D

Explanation of Responses:

1. The restricted securities units will vest on April 26, 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 on November 6, 2026 and have no expiration date.

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

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

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

7. 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 Enrique Beltranena’s Form 3 for VLRS report?

The Form 3 reports Enrique Javier Beltranena’s initial beneficial ownership in Controladora Vuela (VLRS). It details his direct holdings of Series A common stock plus multiple restricted securities units and share appreciation rights tied to future vesting and potential cash-settled value.

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

The CEO, Enrique Javier Beltranena, directly holds 13,866,647 Series A shares of common stock. This figure reflects his reported beneficial ownership of common equity separate from his various restricted securities units and share appreciation rights positions disclosed in the same Form 3.

What restricted securities units linked to VLRS shares are disclosed?

The filing lists several restricted securities unit positions, including 98,405 units vesting on April 26, 2026 and other grants covering 601,547, 1,044,150, and 1,692,012 underlying Series A shares, with vesting starting on November 6, 2026 over one to three annual installments.

When do Enrique Beltranena’s VLRS restricted securities units vest?

One award of restricted securities units vests on April 26, 2026. Additional awards vest on or beginning November 6, 2026, with some vesting in two equal annual installments and others in three equal annual installments, all with no stated expiration dates.

What are the terms of the VLRS share appreciation rights reported?

The share appreciation rights cover 311,968 underlying Series A shares at an exercise price of 14.8000, stated in Mexican pesos. They expire on February 18, 2031 and provide a cash payment based on the stock price increase between the grant date and exercise.

Do the VLRS restricted securities units deliver shares or cash?

Each restricted securities unit represents a contingent right to receive one Series A share of common stock. By contrast, the share appreciation rights provide a right to a cash payment based on stock price appreciation, rather than direct delivery of additional shares.