SCHEDULE: Entravision Insider Sells Shares, Plans Further Sales

Alexandra Seros, trustee of trusts holding significant Entravision Communications stock, has sold 353,068 shares and plans to sell up to 500,000 more for diversification and estate planning.

Summary

• Alexandra Seros, as trustee for The Survivor's Trust, The Non-Exempt Marital Trust, and The Bypass Trust, along with Thomas Strickler, as trustee for The Walter F. Ulloa Irrevocable Trust, are the reporting persons.
• The Survivor's Trust, managed by Alexandra Seros, sold an aggregate of 353,068 shares of Class A Common Stock in the open market between November 6, 2025, and November 13, 2025.
• These sales generated approximately $997,773 in gross proceeds for The Survivor's Trust.
• The Survivor's Trust intends to sell up to 500,000 additional shares of Class A Common Stock in the open market from time to time.
• The purpose of these sales and planned future sales is for asset diversification, tax, and estate planning purposes.
• Alexandra Seros's aggregate beneficial ownership, through the trusts she manages, is 12,399,486 shares, representing 15.19% of the Class A Common Stock outstanding.
• Thomas Strickler, as trustee of The Walter F. Ulloa Irrevocable Trust, beneficially owns 889,848 shares, representing 1.09% of the Class A Common Stock.
• The total outstanding Class A Common Stock for Entravision Communications Corporation was 81,623,559 shares as of October 31, 2025.

Sentiment

Score: 4

Explanation: The sentiment is moderately negative due to significant insider selling and the stated intent for further sales, which can create downward pressure on the stock. While the reasons are personal (diversification, tax, estate planning), the market often interprets such actions as a lack of strong conviction in future price appreciation.

Positives

• The stated reasons for the share sales are for asset diversification, tax, and estate planning, indicating personal financial management rather than a negative view of the company's operational prospects.

Negatives

• Significant insider selling by a major beneficial owner, even for personal reasons, can be perceived negatively by the market and may signal a reduced conviction in the stock's future appreciation.
• The stated intent to sell up to 500,000 additional shares could create ongoing selling pressure on the company's stock.

Risks

• Potential downward pressure on the stock price due to the recent and planned future sales by a significant beneficial owner.
• Reduced alignment of interests between a major beneficial owner and other shareholders as their stake in the company decreases.

Future Outlook

The Survivor's Trust intends to sell up to 500,000 additional 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 continuously review their investment and may change their plans at any time, including acquiring or disposing of additional shares.

Industry Context

This filing primarily concerns changes in beneficial ownership by specific individuals and trusts related to the company's former Chairman and CEO. It reflects personal financial and estate planning decisions rather than broader industry trends or operational shifts for Entravision Communications Corporation within its industry.

Related Party Transactions

• The distribution of Class A Common Stock from the Estate of Walter F. Ulloa to The Survivor's Trust, The Non-Exempt Marital Trust, and The Bypass Trust under the Seros Ulloa Family Trust, and the shares held by The Walter F. Ulloa Irrevocable Trust of 1996, represent dealings among entities related to the former Chairman and CEO.
• A Cooperation Agreement dated May 4, 2023, exists between the Issuer and the Reporting Persons.

Stakeholder Impact

• Shareholders: Potential for increased selling pressure on the stock due to current and planned sales by a significant beneficial owner. This could lead to a decrease in share price.
• Shareholders: Reduced alignment of interests between a major beneficial owner and other shareholders as their stake decreases.
• Company (Entravision Communications Corporation): No direct operational impact is mentioned, but the market perception of insider selling could affect investor confidence and potentially the company's valuation.

Next Steps

• The Survivor's Trust may sell up to 500,000 additional shares of Class A Common Stock in the open market from time to time.
• The Reporting Persons intend to continuously review their investment in the Issuer and reserve the right to change their plans, including acquiring or disposing of additional shares.

Key Dates

Recommendation

The significant insider selling by a major beneficial owner, coupled with the stated intent to sell additional shares, suggests a potential lack of strong conviction in the company's near-term stock performance from a key stakeholder. While the stated reasons are personal (diversification, tax, estate planning), such actions typically create downward pressure on the stock and can be interpreted negatively by the market. Investors might consider selling to avoid potential price depreciation or re-evaluating their position given this insider activity.

Keywords

Entravision Communications, EVC, Schedule 13D, insider selling, beneficial ownership, Alexandra Seros, Walter F. Ulloa, trust, stock sale, asset diversification, estate planning