SCHEDULE: Entravision Insider Sells Shares, Estate Settled
Beneficial Ownership Update
Alexandra Seros, trustee of the Seros Ulloa Family Trust, reported the sale of 81,802 shares of Entravision Class A Common Stock and the settlement of Walter F. Ulloa's estate.
Summary
- Alexandra Seros, as trustee of various trusts under the Seros Ulloa Family Trust, and Thomas Strickler, as trustee of the Walter F. Ulloa Irrevocable Trust, are the reporting persons.
- The filing details the settlement of the Estate of Walter F. Ulloa on September 9, 2024, which distributed 2,652,612 shares of Class A Common Stock into three trusts: 1,220,201 shares to the Survivor's Trust, 1,087,571 shares to the Non-Exempt Marital Trust, and 344,840 shares to the Bypass Trust.
- Alexandra Seros also contributed 425 individually held shares to the Survivor's Trust.
- The Survivor's Trust sold a total of 81,802 shares of Class A Common Stock in open market transactions between August 19, 2025, and August 21, 2025, for gross proceeds of approximately $194,309.
- As of August 21, 2025, Alexandra Seros beneficially owns an aggregate of 13,170,752 shares, representing 16.14% of Entravision's Class A Common Stock outstanding.
- Thomas Strickler beneficially owns 889,848 shares, representing 1.09% of the Class A Common Stock.
- The percentage of class is based on 81,623,559 shares outstanding as of August 1, 2025.
Sentiment
Score: 5
Explanation: Neutral. The filing primarily reports changes in beneficial ownership due to estate settlement and planned sales for diversification and estate planning, which are expected actions for large shareholders following such events. There are no direct positive or negative implications for the company's operational performance, though the planned sales could create some selling pressure.
Negatives
- The stated intention of the Survivor's Trust to sell up to an additional 918,198 shares (1,000,000 shares intended to be sold minus 81,802 already sold) in the open market could exert downward pressure on the stock price.
Risks
- The Survivor's Trust intends to sell up to 1,000,000 shares of Class A Common Stock in the open market from time to time, which could increase selling pressure on the stock.
Future Outlook
The Survivor's Trust under the Ulloa Seros Family Trust intends to sell up to 1,000,000 shares of Class A Common Stock in the open market from time to time, subject to market conditions and other factors, for asset diversification, tax, and estate planning purposes. The Reporting Persons reserve the right to change their plans, including acquiring additional shares or disposing of shares.
Industry Context
This filing primarily concerns changes in beneficial ownership due to estate settlement and personal investment decisions, rather than broader industry trends or competitive dynamics.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Chairman of the Board and Chief Executive Officer (former) | Walter F. Ulloa | NA | 2022-12-31 | Deceased |
| Sole Trustee of The Seros Ulloa Family Trust | NA | Alexandra Seros | 2022-12-31 | Became sole trustee following Mr. Ulloa's death. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Cooperation Agreement | The Issuer and the Reporting Persons are parties to a Cooperation Agreement, which governs certain relationships and understandings with respect to the securities. | 2023-05-04 | Establishes a framework for interaction between the company and significant shareholders, potentially influencing corporate decisions and shareholder rights. |
Stakeholder Impact
- Shareholders: Potential for increased selling pressure on Class A Common Stock due to the stated intention of the Survivor's Trust to sell up to 1,000,000 shares.
Next Steps
- The Survivor's Trust may sell up to an additional 918,198 shares (1,000,000 shares intended to be sold minus 81,802 already sold) of Class A Common Stock in the open market from time to time.
- Reporting Persons will continuously review their investment in the Issuer and may acquire or dispose of shares.
Key Dates
| Date | Description |
|---|---|
| 2022-12-31 | Date of death of Mr. Walter F. Ulloa, former Chairman and CEO of Entravision Communications Corporation. |
| 2023-05-04 | Date of Cooperation Agreement between Entravision Communications Corporation and the Reporting Persons. |
| 2023-06-12 | Date of Amendment No. 2 to the Schedule 13D filing. |
| 2024-09-09 | Settlement date of the Estate of Walter F. Ulloa, resulting in distribution of shares to various trusts. |
| 2025-08-01 | Date as of which 81,623,559 shares of Class A Common Stock were outstanding, as disclosed in the Quarterly Report on Form 10-Q. |
| 2025-08-05 | Date of filing of the Quarterly Report on Form 10-Q by Entravision Communications Corporation. |
| 2025-08-19 | Date of event requiring this Schedule 13D filing; first reported sale of 15,523 shares by the Survivor's Trust. |
| 2025-08-20 | Sale of 29,443 shares by the Survivor's Trust. |
| 2025-08-21 | Sale of 36,836 shares by the Survivor's Trust; filing date of this Schedule 13D Amendment No. 3. |
Recommendation
holdThis filing primarily details changes in beneficial ownership and planned share sales by trusts associated with a deceased former executive for estate planning and diversification. It does not provide new information on the company's operational performance, financial health, or strategic direction. While the planned sales could exert some downward pressure on the stock, this is a known factor related to estate settlement. Without additional information on the company's fundamentals or market conditions, a "hold" recommendation is appropriate as the filing itself doesn't present a compelling reason to buy or sell based on new operational insights.
Keywords
Entravision Communications, EVC, Schedule 13D, Beneficial Ownership, Insider Selling, Estate Settlement, Trust, Class A Common Stock, Shareholding, Walter F. Ulloa, Alexandra Seros, Thomas Strickler
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