Kanovich Sebastian 4
4 · dLocal Ltd · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
dLocal (DLO) Director Sebastian Kanovich Sells 1,000,000 Shares
What Happened Sebastian Kanovich, a director of dLocal Ltd (DLO), directed the conversion and sale of 1,000,000 Class B common shares on July 1, 2026. The shares were converted to Class A common shares upon execution and sold in an open‑market transaction at $14.63 per share, generating $14,630,000 in proceeds. The Form 4 also reports the conversion event (derivative conversion) associated with these shares.
Key Details
- Transaction date: July 1, 2026. Sale price: $14.63 per share; total proceeds $14,630,000.
- Reported transactions: conversion of 1,000,000 Class B shares to Class A (automatic on sale) and sale of 1,000,000 Class A shares.
- Shares owned after transaction: not specified in this filing.
- Footnotes: F1 — Class B shares may be converted to Class A at the reporting person's option; the 1,000,000 Class B shares were converted upon sale. F2 — Transactions were executed under a Rule 10b5‑1 trading plan adopted Nov 26, 2025.
- Filing timeliness: Form filed July 2, 2026 for a July 1, 2026 transaction (appears timely under Form 4 rules).
Context The sale was pre‑arranged under a 10b5‑1 plan, which typically means the trade was scheduled in advance rather than timed to inside information. The key actions were a conversion of Class B shares into Class A shares and the immediate open‑market sale of those converted shares. This is a disposal (sale) rather than a purchase or award, and should be interpreted as a reported insider sale rather than an insider accumulation signal.
Insider Transaction Report
- Conversion
Class A Common Share
[F2][F1]2026-07-01+1,000,000→ 1,000,000 total - Sale
Class A Common Share
[F2]2026-07-01$14.63/sh−1,000,000$14,630,000→ 0 total - Conversion
Class B Common Share
[F1][F2]2026-07-01−1,000,000→ 11,629,474 total→ Class A Common Share (1,000,000 underlying)
Footnotes (2)
- [F1]Each Class B Common Share has no expiration date and may be converted into one Class A Common Share at any time at the option of the reporting person. On July 1, 2026, the reporting person directed the sale of 1,000,000 of his Class B Common Shares, resulting in the automatic conversion of the shares into Class A Common Shares upon execution of the sale.
- [F2]The conversion and sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 26, 2025.