Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 369

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 369
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 to specified terms and conditions set forth in the Administrative Trust, the acquired shares were                               

  (iv)      The share purchase plan provides that if the terms and conditions are not met by the vesting period date,                              

  (v)      The key executives’ account balance will be tracked by the Administrative Trust. The Administrative                                        

As the Administrative Trust is controlled and therefore consolidated
by Controladora, shares purchased in the market and held within the Administrative Trust are presented for accounting purposes as treasury
shares in the consolidated statement of changes in equity.

In November 2024, 2023 and 2022, the extensions to the LTIP
were approved by the Company’s shareholders and the Company’s Board of Directors. The total cost of the extensions approved
were US$5,821(US$3,784net of withheld taxes), US$5,708(US$3,711net of withheld taxes) and US$5,703(US$3,707net of withheld taxes),
respectively. Under the terms of the incentive plan, certain key employees of the Company were granted a special bonus that was transferred
to the Administrative Trust for the acquisition of Series A shares of the Company.

As of December 31, 2024 and 2023, the number of shares into
the Administrative Trust associated with the Company’s share purchase payment plans is as follows:

  Schedule of share purchase payment plans                            
  Outstanding as of December 31, 2022             6,579,214           
  Purchased during the year                       5,847,018           
  Exercised/vested during the year              ( 2,932,479      )    
  Forfeited during the year                       ( 330,453      )    
  Outstanding as of December 31, 2023             9,163,300      (1)  
  Purchased during the year                       5,209,713           
  Exercised/vested during the year              ( 3,880,683      )    
  Forfeited during the year                               —           
  Outstanding as of December 31, 2024            10,492,330      (1)  

  (1)      These shares are presented as treasury shares in the consolidated statement of financial position as of December 31, 2024 and 2023.  
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The vesting period of