Oliveira Fabio Almeida de 4

What Happened

• Oliveira Fabio Almeida de, Suzano S.A.’s Vice President of Paper and Packaging, had previously granted phantom (cash-settled) awards vest and be paid in cash on 03/30/2026 and received a new phantom-share award the same day.
• Two cash-settlement dispositions were reported: 4,231 and 13,962 phantom shares (total 18,193) were settled in cash upon vesting. In addition, a new grant of 13,336 phantom shares was reported on 03/30/2026. Prices per share and total cash values are listed as N/A in the filing; footnotes state the settled value is tied to Suzano’s common share market price.

Key Details

• Transaction dates: all reported 2026-03-30; Form 4 filed 2026-03-31 (appears timely).
• Reported transactions:
  • Dispositions (cash settlement of phantom shares): 4,231 and 13,962 units (derivative dispositions).
  • Grant/Award: 13,336 phantom shares (new award, derivative).
• Prices/values: N/A on the Form 4; footnote confirms cash settlement based on market price at vesting.
• Vesting history and terms:
  • The settled phantom awards were granted on 03/01/2022 and 03/01/2023 and vested 03/30/2026 (F1, F3, F2).
  • The new grant dated 03/30/2026 vests 03/01/2029 and will be cash-settled on vesting (F4, F5).
• Shares owned after transaction: not specified in the provided filing excerpt.

Context

• These were derivative/phantom-share transactions, not open-market stock sales or purchases. Phantom shares are cash-settled awards that pay a cash amount tied to the company’s stock price when they vest — they do not transfer actual common shares.
• Cash settlement of vested phantom shares is typically an administrative payout under compensation plans and does not necessarily signal a buy/sell decision by the insider on the open market. The new grant is a future compensation award subject to vesting conditions.