Controladora Vuela (NYSE: VLRS) director reports detailed equity stake

Rhea-AI Filing Summary

Controladora Vuela Compania de Aviacion, S.A.B. de C.V. director Donovan William Dean has filed an initial ownership report showing his equity stake. He directly holds 2863650 Series A shares of common stock, owned through American Depositary Shares, and a set of vested options and restricted units.

The filing lists options over 67872 underlying Series A shares at an exercise price of 32.2300 and options over 74426 underlying shares at 33.8000, both in Mexican pesos and currently exercisable. It also discloses 111550 restricted securities units related to the annual fee and 120850 restricted securities units under the board incentive plan, each unit representing a contingent right to receive one Series A share, with the restricted units vesting on April 28, 2026 and having no expiration date.

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^*

Donovan William Dean

(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	2,863,650(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
Options	(2)	04/26/2026	Series A shares of common stock	67,872	$32.23(3)	D
Options	(2)	04/26/2027	Series A shares of common stock	74,426	$33.8(3)	D
Restricted Securities Units (Annual Fee)	(4)	(4)	Series A shares of common stock	111,550	(5)	D
Restricted Securities Units (BOD Incentive Plan)	(4)	(4)	Series A shares of common stock	120,850	(5)	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 options are vested and currently exercisable.

3. (3) The price shown is in Mexican Pesos.

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

5. (5) 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 the VLRS Form 3 filing by Donovan William Dean show?

The Form 3 shows director Donovan William Dean’s existing ownership in VLRS, including 2863650 Series A shares, vested stock options, and restricted securities units. It is an initial disclosure of holdings, not a report of recent share purchases or sales.

How many VLRS Series A shares does Donovan William Dean hold directly?

Dean holds 2863650 Series A shares of VLRS common stock directly, owned through American Depositary Shares. Each ADS represents ten Ordinary Participacion Certificates, and each certificate represents the economic interest in one Series A share of common stock.

What stock options in VLRS does Donovan William Dean report on Form 3?

Dean reports vested options over 67872 underlying Series A shares with a 32.2300 exercise price and 74426 underlying shares with a 33.8000 exercise price. Both option prices are stated in Mexican pesos and are currently exercisable according to the disclosure footnotes.

What restricted securities units in VLRS does Donovan William Dean hold?

Dean holds 111550 restricted securities units related to his annual fee and 120850 units under the board incentive plan. Each unit represents a contingent right to receive one Series A share, vesting on April 28, 2026, with no expiration date indicated for the units.

Are Donovan William Dean’s VLRS options currently exercisable and in what currency?

The filing states that Dean’s VLRS options are vested and currently exercisable. The exercise prices of 32.2300 and 33.8000 are shown in Mexican pesos, as specifically noted in the footnotes to the ownership disclosure.

How are VLRS American Depositary Shares structured in this Form 3?

The Form 3 explains that VLRS holdings are through American Depositary Shares, where each ADS represents ten Ordinary Participacion Certificates. Each certificate represents the economic interest in one Series A share of common stock, linking ADS units to the underlying local shares.