FMX (FMX) director Alfonso Garza Garza sells 209,264 BD Units while retaining large holdings
Rhea-AI Filing Summary
Mexican Economic Development Inc. director Alfonso Garza Garza reported a series of open-market sales of BD Units in March 2026. He sold 52,316 BD Units on each of four days from March 18–23, 2026 at prices between $10.26 and $10.60 per BD Unit, totaling 209,264 BD Units. After these sales, he directly holds 1,337,712 BD Units. Footnotes explain that BD Units each represent one Series B share and four Series D shares, and that additional B and BD Units are held indirectly through trusts, including a voting trust where his economic interest is limited to securities he contributed.
Positive
- None.
Negative
- None.
Insights
Director executed moderate open-market sales while retaining substantial direct and trust-related holdings.
The filing shows director Alfonso Garza Garza conducted four open-market sales of BD Units in consecutive trading days, each for 52,316 units at prices just above $10. In total, 209,264 BD Units were sold, a straightforward net-sell pattern with no derivative exercises.
Following the sales, he still directly owns 1,337,712 BD Units and maintains significant indirect exposure through B and BD Units held in trusts. One large position is in a voting trust where he has shared voting power but disclaims most pecuniary interest. Overall, the activity appears routine and does not, by itself, indicate a major shift in his economic alignment with other shareholders.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | BD Units | 52,316 | $10.3067 | $539K |
| Sale | BD Units | 52,316 | $10.2627 | $537K |
| Sale | BD Units | 52,316 | $10.558 | $552K |
| Sale | BD Units | 52,316 | $10.5978 | $554K |
| holding | B Units | -- | -- | -- |
| holding | B Units | -- | -- | -- |
| holding | B Units | -- | -- | -- |
| holding | BD Units | -- | -- | -- |
Footnotes (1)
- This transaction was carried out in Mexican pesos. For purposes of this Form 4, a conversion rate of MXN 17.7782 for each USD $1.00 was used. The securities reported herein are held in the form of BD Units. Each BD Unit consists of one Series B Share, two Series D-B Shares and two Series D-L Shares, without par value ("Series D-B Shares" and "Series D-L Shares", respectively). The securities reported herein are held in the form of B Units. Each B Unit consists of five Series B Shares, without par value ("Series B Shares"). These securities are held for the benefit of the reporting person by BBVA Mexico, S.A., Institucion de Banca Multiple, Grupo Financiero BBVA Mexico, Trust No. F/4112454, a trust in which the reporting person is participant, along with other family members. These securities are held by Banco Invex, S.A. Institucion de Banca Multiple, Invex Grupo Financiero, Trust No. 463 (the "Voting Trust"), an irrevocable voting trust in which the reporting person is a trust participant. Each of the trust participants is deemed to have beneficial ownership with shared voting power over the securities deposited in the Voting Trust. The reporting person hereby disclaims having any pecuniary interests derived from the beneficial ownership of any securities (with shared voting power and with shared dispositive power) other than pecuniary interests derived by the reporting person's securities contributed directly or indirectly to the Voting Trust, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. For more information, see Item 7 of Fomento Economico Mexicano, S.A.B. de C.V.'s Annual Report on Form 20-F filed on April 24, 2025.
