Bueno Luis Renato Costa 4

What Happened

• Luis Renato Costa Bueno, Executive Vice President of Consumer Goods at Suzano (SUZ), had cash‑settled derivative awards vest and be paid out on 2026-03-30 and simultaneously received a new grant.
• Dispositions (cash settlement of phantom shares): 5,085 shares and 16,137 shares were disposed to the issuer (total 21,222). These were derivative/phantom share settlements (no open‑market sale); the filing lists price as N/A because settlement was in cash based on the market price.
• Grant: 9,497 phantom shares were granted on 2026-03-30 (cash‑settled derivative award). No per‑share cash amount is listed in the Form 4.

Key Details

• Transaction dates: 2026-03-30 (settlements and new grant).
• Transaction types: Disposition to issuer (D) for the two settled phantom awards; Grant/Award (A) for the new phantom shares.
• Prices/values: Listed as N/A in the filing; footnotes state the phantom shares are cash‑settled and paid based on Suzano’s market price at settlement.
• Vesting background: The settled phantom shares were granted on 03/01/2022 (vested 03/30/2026) and 03/01/2023 (vested 03/30/2026). The new 03/30/2026 grant vests on 03/01/2029, subject to plan conditions (see footnotes F1–F4).
• Shares owned after transaction: Not specified in the provided filing extract.
• Timeliness: Filing dated 2026-03-31 for transactions on 2026-03-30 — appears timely (no late‑filing flag).

Context

• These were derivative, cash‑settled phantom share awards, not open‑market stock trades. The settled awards converted to cash upon vesting per plan terms; the new grant will vest in the future if conditions are met.
• Such settlements are routine compensation actions for executives and, unlike purchases, do not directly signal buying interest in the company’s stock.