Tkacz Daniel 4

What Happened
Daniel Tkacz, Chief Technical Officer of AZUL S.A. (AZUL), received a grant of 196,172 rights to acquire common shares under the company's Restricted Shares Granting Plan. The award was reported as an acquisition on 2026-06-15 at an acquisition price of $0.00 (i.e., a grant/award rather than an open-market purchase or sale). No cash value is specified in the filing.

Key Details

• Transaction date: 2026-06-15; Form 4 filed: 2026-06-17 (within the typical 2-business-day reporting window).
• Grant size: 196,172 restricted share rights; acquisition price reported as $0.00.
• Vesting: Three equal annual installments on May 5, 2027; May 5, 2028; and May 5, 2029, each contingent on continued service. (Footnote F1)
• Settlement alternative: If AZUL lacks sufficient treasury shares at vesting, the Reporting Person must subscribe for the vested shares for a nominal R$1.00 for all Restricted Shares (Footnote F2).
• Shares owned after transaction: not specified in the filing.

Context
This was an equity award (code A) rather than a purchase or sale; such grants compensate or retain executives and do not by themselves signal buying or selling conviction. The grant vests over three years subject to continued service and may be settled either with treasury shares or by a nominal subscription if treasury shares are unavailable.