Company: CTTRF
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001292814-25-001765
Chunk: 282

Company: Controladora Vuela Compania de Aviacion, S.A.B. de C.V.
Filing Date: 2025-04-30
Form: 20-F
Item: Item 16G
Chunk 282
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ITEM 16G CORPORATE GOVERNANCE

As a foreign private issuer, we may follow our home country’s
corporate governance practices in lieu of most of the NYSE’s corporate governance listing standards. Pursuant to Section 303A.11
of the Listed Company Manual of the NYSE, we are required to provide a summary of the significant ways in which our corporate governance
practices differ from those required for U. S. companies under the NYSE listing standards. The table below discloses the significant differences
between our corporate governance practices and the NYSE standards.

  NYSE Standards                                                                                                                                                                                            Our Corporate Governance                                                                                                                                                                              
  Director Independence. Majority of board of directors must be independent. “ Controlled companies,” which would include our company if we were a U. S. issuer, are exempt from this requirement. ...      Director Independence. Pursuant to the LMV and our by-laws, our shareholders are required to appoint the members of our board of directors comprised of no more than 21 members, 25% of whom must...  
  Executive Sessions. Non-management directors must meet regularly in executive sessions without management. Independent directors should meet alone in an executive session at least once a year. ...      Executive Sessions. Non-management directors meet regularly in executive sessions without management.                                                                                                 

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  NYSE Standards                                                                                                                                  Our Corporate Governance                                                                                                                                                                              
  Nominating/Corporate                                                                                                                            Nominating Committee. We are not required to have a nominating committee. However, we maintain a corporate governance committee that oversees compensation and nominations which may, among other...  
  Compensation Committee.                                                                                                                         Compensation Committee. We are not required to have a compensation committee. However, we maintain a corporate governance committee that oversees compensation and nominations working group that...  

  Audit Committee. Audit committee satisfying the independence and other requirements of Exchange Act Rule 10A-3 and the more stringent requirements under the NYSE standards is required. §§303A.0...      Audit Committee. We have an audit committee comprised of three members. Each member of the audit committee is independent, as independence is defined under the LMV, and also meets the independe...  

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  NYSE Standards                                                                                                                                                                                            Our Corporate Governance                                                                                                                                                                              
  Equity Compensation Plans. Equity compensation plans require shareholder approval, subject to limited exemptions. §§303A.08 & 312.03                                                                      Equity Compensation Plans. Shareholder approval is required for the adoption and amendment of an