dLocal (DLO) Director Sebastian Kanovich Sells 77,453 Shares

What Happened
Sebastian Kanovich, a director of dLocal Ltd (DLO), sold a total of 77,453 shares in two tranches tied to conversions of his Class B shares into Class A common shares. On Aug 4, 2026 he sold 4,700 shares at $15.50 for $72,850, and on Aug 5, 2026 he sold 72,753 shares at $15.54 for $1,130,356 — total proceeds ≈ $1,203,206. The sales were executed pursuant to a pre-existing Rule 10b5-1 trading plan.

Key Details

• Transaction dates and prices:
  • Aug 4, 2026: 4,700 shares sold at $15.50 — $72,850
  • Aug 5, 2026: 72,753 shares sold at $15.54 — $1,130,356
• Total shares sold: 77,453; total proceeds ≈ $1.20M.
• The shares sold were Class B common shares that automatically converted to Class A shares upon execution of the sales (each Class B converts 1-for-1 to Class A).
• Conversion entries show $0 per-share derivative price (i.e., conversion, not a priced option exercise).
• The trades were made under a Rule 10b5-1 trading plan adopted by Kanovich on 11/26/2025.
• The Form 4 was filed late due to an inadvertent administrative error (filing timeliness flag: late). The filing notes the lateness but does not imply wrongdoing; late filings can delay public visibility of the trades.
• The filing does not state Kanovich’s total holdings after these transactions.

Context
These were planned sales under a 10b5-1 plan (routine, pre-scheduled disposition), and involved automatic conversion of Class B shares to Class A at the time of sale. Sales reduce insider ownership but, as planned trades, they don’t necessarily indicate a change in the insider’s view of the company.