Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 174

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 4A
Chunk 174
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5.7 million, and U. S. $6.5 million, respectively. These amounts were recognized in salaries
and benefits in our consolidated statements of operations.

In 2022, 2023, and 2024, the chairman and the independent
members of our board of directors received a net compensation of U. S. $0.6 million, U. S. $0.7 million, and U. S. $0.4 million, respectively,
and the rest of the directors received a net compensation of U. S. $0.2 million, U. S. $0.2 million, and U. S. $0.1 million, respectively.

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In 2023 and 2024, the amount paid to the chairman
and independent members included payment through shares of the Company totaling U. S. $0.3 million and U. S. $0.8 million, respectively.

Our directors or executive officers are not entitled to any
benefits upon termination, except for indemnification payments provided under the Mexican Federal Labor Law ( Ley Federal del Trabajo),
if any.

Long-term Retention Plans

Management Incentive Plan II

The carrying amount of the liability relating to these SARs
as of December 31, 2022, 2023 and 2024 was U. S. $1.6 million, U. S. $1.4 million, and U. S. $0.1 million, respectively. The compensation
cost is recognized in our consolidated statements of operations under the caption salaries and benefits over the service period. During
the year ended December 31, 2022, 2023, and 2024, we recorded a benefit of U. S. $4.4, U. S. $0.1 million, and U. S. $1.1 million, respectively,
associated with these SARs in our consolidated statements of operations. No SARs were exercised during 2022, 2023, and 2024.

Board of Directors Incentive Plan (BoDIP)

The number of shares held by the trustee as of December 31,
2022, was 5,945,417, of which 669,834 shares were priced at Ps.33.80; 610,848 shares were priced at Ps.32.23; 2,458,827 shares were priced
at Ps.9.74;