Executive at Mexican Economic Development (FMX) reports phantom stock holdings

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Mexican Economic Development Inc. executive Paul Michael Mueller, CEO of Valora, reported his initial holdings of derivative awards linked to the company. He holds phantom stock and Restricted Stock Units representing an economic interest in 237,801.4 BD Units, with each RSU and each phantom stock unit equivalent to 10 BD Units. These awards carry a cash-settlement feature, paying out in cash on March 31 of the applicable payment year, rather than in shares. The filing records holdings only and does not show any open-market buying or selling of common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MUELLER PAUL MICHAEL

Role CEO VALORA

Type	Security	Shares	Price	Value
holding	Phantom Stock	--	--	--

Holdings After Transaction: Phantom Stock — 237,801.4 shares (Direct)

Footnotes (1)

These securities reported herein are held in the form of Restricted Stock Units ("RSUs"). Each RSU represents 10 BD Units. Each BD Unit consists of one Series B Share, two Series D-B Shares and two Series D-L Shares ("BD Unit"), without par value ("Series D-B Shares" and "Series D-L Shares", respectively). Each share of phantom stock represents an economic interest equivalent of 10 BD Units of the Issuer and is settled exclusively in cash on March 31 of the applicable payment year.

Key Figures

Underlying BD Units: 237,801.4 BD Units RSU to BD Unit ratio: 1 RSU = 10 BD Units Phantom stock to BD Unit ratio: 1 phantom stock share = 10 BD Units +3 more

6 metrics

Underlying BD Units 237,801.4 BD Units Economic interest represented by phantom stock/RSUs

RSU to BD Unit ratio 1 RSU = 10 BD Units Each Restricted Stock Unit represents 10 BD Units

Phantom stock to BD Unit ratio 1 phantom stock share = 10 BD Units Each share of phantom stock equals 10 BD Units economically

Exercise price $0.00 Exercise/conversion price for the phantom stock awards

Settlement date March 31 Cash settlement on March 31 of applicable payment year

Expiration date 2026-03-31 Expiration date for the phantom stock entry

Key Terms

Phantom Stock, Restricted Stock Units ("RSUs"), BD Units, Series D-B Shares, +1 more

5 terms

Phantom Stock financial

"Each share of phantom stock represents an economic interest equivalent of 10 BD Units"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Restricted Stock Units ("RSUs") financial

"These securities reported herein are held in the form of Restricted Stock Units ("RSUs")"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

BD Units financial

"Each RSU represents 10 BD Units. Each BD Unit consists of one Series B Share"

Series D-B Shares financial

"Each BD Unit consists of one Series B Share, two Series D-B Shares and two Series D-L Shares"

Series D-L Shares financial

"Each BD Unit consists of one Series B Share, two Series D-B Shares and two Series D-L Shares"

Understanding Insider Trading Forms →

03/31/2026 - 11:13 AM

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^*

MUELLER PAUL MICHAEL

(Last)

(First)

(Middle)

AVENIDA GENERAL ANAYA 60|

BELLA VISTA

(Street)

MONTERREY

NUEVO LEON

64410

(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
MEXICAN ECONOMIC DEVELOPMENT INC [ FMX ]

3a. Foreign Trading Symbol

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)
	CEO VALORA

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)

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)
Phantom Stock	03/31/2026	03/31/2026	BD Units	237,801.4⁽¹⁾	⁽²⁾	D

Explanation of Responses:

1. These securities reported herein are held in the form of Restricted Stock Units ("RSUs"). Each RSU represents 10 BD Units. Each BD Unit consists of one Series B Share, two Series D-B Shares and two Series D-L Shares ("BD Unit"), without par value ("Series D-B Shares" and "Series D-L Shares", respectively).

2. Each share of phantom stock represents an economic interest equivalent of 10 BD Units of the Issuer and is settled exclusively in cash on March 31 of the applicable payment year.

Remarks:

Exhibit 24 - Power of Attorney

	Sergio Rodriguez Perez, Attorney in Fact	03/31/2026
	** 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

FAQ

What does the FMX Form 3 filing for Paul Michael Mueller show?

The Form 3 shows Paul Michael Mueller’s initial holdings of phantom stock and RSUs tied to Mexican Economic Development Inc. These derivative awards represent an economic interest in 237,801.4 BD Units and are settled exclusively in cash on scheduled payment dates.

How many BD Units are covered by Paul Michael Mueller’s phantom stock at FMX?

Paul Michael Mueller’s phantom stock and related awards represent an economic interest in 237,801.4 BD Units. Each phantom stock unit and each RSU corresponds to 10 BD Units, giving him a sizable cash-settled exposure to the company’s BD Unit structure.

How are Paul Michael Mueller’s phantom stock and RSUs at FMX settled?

Each share of phantom stock is settled exclusively in cash on March 31 of the applicable payment year. It represents the economic equivalent of 10 BD Units, so Mueller’s compensation exposure is cash-based rather than paid out in actual FMX shares.

What is a BD Unit in Mexican Economic Development Inc.’s capital structure?

Each BD Unit consists of one Series B Share, two Series D-B Shares and two Series D-L Shares, all without par value. Both the RSUs and the phantom stock reference BD Units, with each unit of those awards corresponding to 10 BD Units economically.

Does the FMX Form 3 indicate any stock purchases or sales by Paul Michael Mueller?

The Form 3 records holdings of phantom stock and RSUs but does not show open-market purchases or sales. It is an initial ownership report, detailing derivative-based, cash-settled compensation linked to BD Units rather than common stock trading activity.