Controladora Vuela (VLRS) director exercises RSUs and boosts Series A stake

Q: What did Donovan William Dean report in this VLRS Form 4 filing?

He reported exercising equity awards to acquire 232,400 Series A shares and receiving new restricted securities units. These transactions increased his directly held stake in Controladora Vuela Compania de Aviacion, S.A.B. de C.V. while also adding fresh RSU-based contingent rights to future shares.

Q: What equity awards did Donovan William Dean exercise in April 2026 at VLRS?

On April 28, 2026 , he exercised derivative awards, including RSU-related positions, to acquire 232,400 Series A shares of common stock . The filing classifies these as exercise or conversion of derivative securities with a transaction price per share of $0.00 .

Q: What new restricted securities units did Donovan William Dean receive from VLRS?

On April 24, 2026 , he received 64,200 Restricted Securities Units (BoDIP) and 59,260 Restricted Securities Units (Annual Fee) . Footnotes state each RSU represents a contingent right to receive one Series A share of common stock with no expiration date.

Q: How are VLRS American Depositary Shares (ADSs) and CPOs structured in this Form 4?

The footnotes explain that holdings are owned through American Depositary Shares (ADSs) , with each ADS representing ten Certificados de Participacion Ordinarios (CPOs) . Each CPO, in turn, represents the economic interest in one Series A share of common stock.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Controladora Vuela Compania de Aviacion, S.A.B. de C.V. director Donovan William Dean exercised equity awards and received new grants tied to Series A common stock. On April 28, 2026, he exercised derivative awards to acquire 232,400 Series A shares at a price of $0.00 per share, bringing his directly held stake to 3,096,050 Series A shares.

On April 24, 2026, he was granted 64,200 Restricted Securities Units (BoDIP) and 59,260 Restricted Securities Units (Annual Fee), each representing a contingent right to receive one Series A share of common stock. Footnotes indicate his holdings are reflected through American Depositary Shares, with each ADS representing ten CPOs and each CPO representing the economic interest in one Series A share.

Insider Trade Summary

232,400 shares exercised/converted

Mixed 5 txns

Insider Donovan William Dean

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Securities Units (Annual Fee)	111,550	$0.00	--
Exercise	Restricted Securities Units (BoDIP)	120,850	$0.00	--
Exercise	Series A shares of common stock	232,400	$0.00	--
Grant/Award	Restricted Securities Units (Annual Fee)	59,260	$0.00	--
Grant/Award	Restricted Securities Units (BoDIP)	64,200	$0.00	--

Holdings After Transaction: Restricted Securities Units (Annual Fee) — 0 shares (Direct, null); Restricted Securities Units (BoDIP) — 0 shares (Direct, null); Series A shares of common stock — 3,096,050 shares (Direct, null)

Footnotes (1)

The Restricted Securities Units ("RSUs") were granted on April 28, 2025 and vest on April 28, 2026. The RSUs have no expiration date. Shares owned through American Depositary Shares ("ADSs"). Each ADS representing ten (10) Certificados de Participacion Ordinarios (CPOs). Each CPO representing the economic interest in one (1) share of Series A shares of common stock. Each RSU represents a contingent right to receive on Series A share of common stock. The RSUs were granted on April 24, 2026 and will vest on April 24, 2027. The RSUs have no expiration date.

Key Figures

Shares acquired via exercise: 232,400 shares Direct holdings after transaction: 3,096,050 shares RSU grant (BoDIP): 64,200 units +5 more

8 metrics

Shares acquired via exercise 232,400 shares Series A shares acquired on April 28, 2026 through derivative exercises

Direct holdings after transaction 3,096,050 shares Series A shares directly owned following April 28, 2026 transactions

RSU grant (BoDIP) 64,200 units Restricted Securities Units (BoDIP) granted on April 24, 2026

RSU grant (Annual Fee) 59,260 units Restricted Securities Units (Annual Fee) granted on April 24, 2026

Underlying shares RSU BoDIP exercise 106,461 shares Series A shares underlying BoDIP RSUs exercised on April 28, 2026

Underlying shares RSU Annual Fee exercise 111,550 shares Series A shares underlying Annual Fee RSUs exercised on April 28, 2026

ADS to CPO ratio 1 ADS : 10 CPOs Each ADS represents ten Certificados de Participacion Ordinarios (CPOs)

CPO to Series A ratio 1 CPO : 1 Series A share Each CPO represents economic interest in one Series A share

Key Terms

Restricted Securities Units ("RSUs"), American Depositary Shares ("ADSs"), Certificados de Participacion Ordinarios (CPOs), Series A shares of common stock, +1 more

5 terms

Restricted Securities Units ("RSUs") financial

"The Restricted Securities Units ("RSUs") were granted on April 28, 2025 and vest on April 28, 2026."

American Depositary Shares ("ADSs") financial

"Shares owned through American Depositary Shares ("ADSs"). Each ADS representing ten (10) Certificados de Participacion Ordinarios (CPOs)."

American Depositary Shares (ADSs) are U.S.-listed certificates issued by a bank that represent ownership of a specified number of a foreign company’s ordinary shares, letting U.S. investors buy and sell those interests in U.S. dollars on American markets. They matter because they make investing in overseas companies as easy as buying a domestic stock—streamlining currency, settlement, and recordkeeping—while still exposing investors to foreign-market risks like exchange rates and local regulations.

Certificados de Participacion Ordinarios (CPOs) financial

"Each ADS representing ten (10) Certificados de Participacion Ordinarios (CPOs). Each CPO representing the economic interest in one (1) share of Series A shares of common stock."

Series A shares of common stock financial

"Each RSU represents a contingent right to receive on Series A share of common stock."

exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

Form 4 Insider Transactions: What Each Field Means →

04/28/2026 - 04:14 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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. Issuer Name and Ticker or Trading Symbol
Controladora Vuela Compania de Aviacion, S.A.B. de C.V. [ VLRS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol
[VOLAR]

3. Date of Earliest Transaction (Month/Day/Year)
04/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Series A shares of common stock	04/28/2026		M⁽¹⁾		232,400⁽²⁾	A	⁽³⁾	3,096,050⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Securities Units (Annual Fee)	⁽³⁾	04/24/2026		A		59,260		⁽⁴⁾	⁽⁴⁾	Series A shares of common stock	59,260	$0	59,260	D
Restricted Securities Units (BoDIP)	⁽³⁾	04/24/2026		A		64,200		⁽⁴⁾	⁽⁴⁾	Series A shares of common stock	64,200	$0	64,200	D
Restricted Securities Units (Annual Fee)	⁽³⁾	04/28/2026		M			111,550	⁽¹⁾	⁽¹⁾	Series A shares of common stock	111,550	$0	0	D
Restricted Securities Units (BoDIP)	⁽³⁾	04/28/2026		M			120,850	⁽¹⁾	⁽¹⁾	Series A shares of common stock	106,461	$0	0	D

Explanation of Responses:

1. The Restricted Securities Units ("RSUs") were granted on April 28, 2025 and vest on April 28, 2026. The RSUs have no expiration date.

2. Shares owned through American Depositary Shares ("ADSs"). Each ADS representing ten (10) Certificados de Participacion Ordinarios (CPOs). Each CPO representing the economic interest in one (1) share of Series A shares of common stock.

3. Each RSU represents a contingent right to receive on Series A share of common stock.

4. The RSUs were granted on April 24, 2026 and will vest on April 24, 2027. The RSUs have no expiration date.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Isela Cervantes Rodriguez, as Attorney-in-Fact, for William D. Donovan	04/28/2026
	** 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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Donovan William Dean report in this VLRS Form 4 filing?

He reported exercising equity awards to acquire 232,400 Series A shares and receiving new restricted securities units. These transactions increased his directly held stake in Controladora Vuela Compania de Aviacion, S.A.B. de C.V. while also adding fresh RSU-based contingent rights to future shares.

How many Controladora Vuela Series A shares does Donovan William Dean now hold?

After the reported transactions, Donovan William Dean directly holds 3,096,050 Series A shares. This figure reflects his position following the April 28, 2026 exercise of derivative awards that delivered 232,400 shares at a stated price of $0.00 per share.

What equity awards did Donovan William Dean exercise in April 2026 at VLRS?

On April 28, 2026, he exercised derivative awards, including RSU-related positions, to acquire 232,400 Series A shares of common stock. The filing classifies these as exercise or conversion of derivative securities with a transaction price per share of $0.00.

What new restricted securities units did Donovan William Dean receive from VLRS?

On April 24, 2026, he received 64,200 Restricted Securities Units (BoDIP) and 59,260 Restricted Securities Units (Annual Fee). Footnotes state each RSU represents a contingent right to receive one Series A share of common stock with no expiration date.

How are VLRS American Depositary Shares (ADSs) and CPOs structured in this Form 4?

The footnotes explain that holdings are owned through American Depositary Shares (ADSs), with each ADS representing ten Certificados de Participacion Ordinarios (CPOs). Each CPO, in turn, represents the economic interest in one Series A share of common stock.

Were there any sales or dispositions of VLRS shares in this Form 4?

No sales or dispositions were reported. All transactions are classified as acquisitions, consisting of derivative exercises that delivered 232,400 Series A shares and RSU grants totaling 123,460 restricted securities units, according to the transaction summary and codes used.