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Suzano S.A.·4

Mar 31, 7:24 PM ET

Lazaretti Douglas Seibert 4

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Suzano (SUZ) Exec Lazaretti Seibert Receives and Settles Phantom Shares

What Happened
Lazaretti Douglas Seibert, Executive VP of Forestry at Suzano S.A. (SUZ), had cash‑settled phantom share awards vest and be settled on 2026-03-30 and also received a new phantom‑share grant the same day. The filing shows two dispositions to the issuer: 2,742 and 9,141 phantom units were settled/disposed, and a new grant/award of 9,497 phantom units was recorded. Prices and total dollar values are listed as N/A in the Form 4 because these were derivatives (phantom shares) settled in cash per the plan terms.

Key Details

  • Transaction date(s): 2026-03-30 (all three reported transactions). Form filed 2026-03-31 and marked late.
  • Dispositions: 2,742 and 9,141 phantom shares reported as "Disposition to the issuer" (derivative; price N/A). These relate to vested phantom awards that were cash‑settled.
  • Grant/award: 9,497 phantom shares reported as an acquisition/grant (derivative; price N/A) granted 03/30/2026 and vesting 03/01/2029 (per footnote).
  • Shares owned after transaction: not disclosed in the filing.
  • Footnotes from the filing:
    • F1/F3: Phantom shares originally granted 03/01/2022 and 03/01/2023 that vested 03/30/2026; each phantom unit is tied to one Suzano common share and is cash‑settled upon vesting.
    • F2: Those vested phantom shares were settled in cash based on Suzano’s market price.
    • F4: The 03/30/2026 grant vests 03/01/2029 and is cash‑settled when it vests.
  • Filing timeliness: marked as late (transactionTimeliness = 'L'); late Form 4s delay public disclosure of insider activity.

Context
These were derivative/phantom‑share events, not open‑market stock trades or option exercises resulting in immediate common‑share transfers. Phantom shares represent a cash payment tied to the company’s share price on vesting; they do not transfer actual shares unless separately converted. Because this was a cash settlement of vested awards and a new deferred grant, it’s primarily compensation administration rather than a buy/sell decision expressing market sentiment.