Director Brian H. Franke reports 3.2M VLRS shares and RSUs in Form 3

Rhea-AI Filing Summary

Controladora Vuela Compania de Aviacion director Brian H. Franke has reported his initial ownership position. He directly holds 3,217,250 Series A shares of common stock, some through American Depositary Shares. He also holds restricted securities units representing 278,870 underlying Series A shares that vest on April 28, 2026 and have no expiration date. Each restricted securities unit represents a contingent right to receive one Series A share.

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^*

Franke Brian H.

(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	3,217,250(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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Securities Units	(2)	(2)	Series A shares of common stock	278,870	(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)

FAQ

What does Brian H. Franke report owning in Controladora Vuela (VLRS) on this Form 3?

He reports direct ownership of 3,217,250 Series A shares of common stock and restricted securities units tied to 278,870 underlying Series A shares. This Form 3 records his existing holdings as a director, not new market purchases or sales.

How are Brian H. Franke’s Controladora Vuela (VLRS) shares held?

His 3,217,250 Series A shares are held directly, including shares owned through American Depositary Shares (ADSs). Each ADS represents ten Ordinary Participation Certificates, and each certificate reflects the economic interest in one Series A share of common stock.

What are the terms of Brian H. Franke’s restricted securities units in VLRS?

He holds restricted securities units linked to 278,870 underlying Series A shares. These units will vest on April 28, 2026 and have no expiration date, providing a contingent right to receive one Series A share per unit upon vesting.

Do the restricted securities units in VLRS immediately give Brian H. Franke common shares?

No. Each restricted securities unit represents a contingent right to receive one Series A share in the future. The units vest on April 28, 2026, at which time the corresponding common shares become deliverable, subject to the award’s conditions.

Does this VLRS Form 3 indicate that Brian H. Franke bought or sold shares?

No. The Form 3 lists holdings rather than transactions, with no buy or sell codes reported. It discloses his ownership of 3,217,250 Series A shares and restricted securities units for 278,870 underlying shares as of his status as a director.