Cosan (CSAN) Director Cordes Buys 159,000 Shares

What Happened Burkhard Cordes (Director) made multiple open-market purchases of Cosan S.A. shares in May 2026, acquiring a total of 159,000 shares across four trades. The individual purchases: 89,000 shares on 2026-05-18 at 4.47 (BRL) for BRL 397,830; 10,000 shares on 2026-05-26 at 4.27 (BRL) for BRL 42,700; 50,000 shares on 2026-05-26 at 4.26 (BRL) for BRL 213,000; and 10,000 shares on 2026-05-26 at 4.25 (BRL) for BRL 42,500. These were purchases (transaction code P), which are generally interpreted as insider buying rather than selling.

Key Details

• Transaction dates & prices:
  • 2026-05-18: 89,000 shares @ 4.47 (BRL) = BRL 397,830
  • 2026-05-26: 10,000 shares @ 4.27 (BRL) = BRL 42,700
  • 2026-05-26: 50,000 shares @ 4.26 (BRL) = BRL 213,000
  • 2026-05-26: 10,000 shares @ 4.25 (BRL) = BRL 42,500
• Aggregate: 159,000 shares for BRL 696,030.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnotes: F1 — amounts stated in Brazilian reais (BRL). F2 — each American Depositary Share (ADS) represents four common shares; if the reported figures are ADS, multiply by 4 to get underlying common shares.
• Filing/Timeliness: The Form 4 was initially filed on June 9, 2026 under the wrong CIK (Cosan Ltd.) and is being refiled under the correct Cosan S.A. CIK; the filing was corrected via this refile.

Context

• These were straightforward open-market purchases (no options exercised, gifts, or tax-withholding codes reported).
• Purchases by directors can be viewed by investors as a positive signal, but they do not prove future performance—motives are not disclosed.
• Check the SEC filing for full ownership details and to confirm whether reported share counts are ADS or ordinary shares (see F2).