Marino Bicudo Daniel 4
4 · AZUL SA · Filed Jun 17, 2026
Research Summary
AI-generated summary of this filing
AZUL SA (AZUL3) CCO Marino Bicudo Receives 196,172-Share Award
What Happened Marino Bicudo Daniel, Chief Commercial Officer of AZUL SA (AZUL3), was granted 196,172 rights to acquire common shares (a restricted share award) on June 15, 2026. The award was recorded at $0.00 per share (no cash paid at grant), so the immediate transaction value is $0. This is a time-based equity award (not an open‑market purchase or sale).
Key Details
- Transaction type: Award/Grant of restricted shares (code A)
- Grant date: 2026-06-15; Form 4 filed 2026-06-17 (timely)
- Shares/rights granted: 196,172; price at grant: $0.00; immediate value shown: $0
- Vesting: Three equal annual installments on May 5, 2027; May 5, 2028; May 5, 2029 (vesting contingent on continued service)
- Post-transaction beneficial ownership: Not specified in the filing
- Footnote on settlement: If AZUL lacks sufficient treasury shares at vesting, the reporting person must subscribe for the vested shares for R$1.00 total
Context This was a typical restricted-share grant tied to continued employment; it does not represent an open‑market buy or sale and does not indicate an immediate change in share ownership until vesting occurs. The award vests over three years and may be settled either from treasury shares or via a nominal R$1.00 subscription if treasury shares are unavailable.
Insider Transaction Report
- Award
Common Shares
[F1][F2]2026-06-15+196,172→ 196,172 total
Footnotes (2)
- [F1]Represents a grant of 196,172 rights to acquire common shares pursuant to the terms of the Issuer's Restricted Shares Granting Plan and applicable documentation thereunder ("Restricted Shares"). The Restricted Shares vest in three equal annual installments on May 5, 2027, May 5, 2028 and May 5, 2029, contingent on the reporting person's continued service on each applicable vesting date.
- [F2]In the event that the Issuer does not hold sufficient treasury shares for the settlement of the Restricted Shares on the applicable vesting date, the Reporting Person will be required to subscribe for the Restricted Shares for a nominal price of R$1.00 (one Brazilian real) for all Restricted Shares subject to vesting.