Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 175

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 175
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807,255 shares were priced at Ps.16.80; 586,263 shares were priced at Ps.16.12.; and 812,390 shares for future vesting.

The number of shares held by the trustee as of December 31,
2023, was 4,781,769 of which 3 shares were priced at Ps.26.29; 586,263 shares were priced at Ps.16.12; 807,255 shares were priced at Ps.16.80;
2,107,566 shares were priced at Ps.9.74; 610,848 shares were priced at Ps.32.23; and 669,834 shares were priced at Ps.33.80.

The number of shares held by the trustee as of December 31,
2024, was 3,388,251 of which 3 shares were priced at Ps.26.29; 2,107,566 shares were priced at Ps.9.74; 610,848 shares were priced at
Ps.32.23 and 669,834 shares were priced at Ps.33.80.

During 2024, certain conditions were not met and the executives
did not exercise the option to purchase shares. In accordance with the terms of the plan, Controladora is entitled to receive the proceeds
from the sale of these shares. The number of forfeited shares as of December 31, 2024 was 1,393,518.

In April 2023, our Annual General Shareholders’ Meeting
modified the terms of the BoDIP. Starting in 2023, certain members of the Board of Directors receive additional benefits through a stock-based
plan administered by the LTIP Trust. These benefits are delivered to the beneficiaries once the established conditions are met.

As of December 31, 2023, the trustee held 370,860 shares were
priced at Ps.21.14.

As of December 31, 2024, the trustee held 588,205 shares were
priced at Ps.13.27.

Long-term Incentive Plan

During 2010, we adopted an employee long-term incentive plan,
the purpose of which is to retain high performing employees within the organization by paying incentives depending on our performance.
During the years ended December 31, 2013, and 2012, we expensed Ps.6.3 million (U. S. $482 thousand as of December 31, 2013,