Galhardo Aires 4

What Happened
Galhardo Aires, Vice President of Pulp Operations at Suzano S.A. (SUZ), was granted 37,743 cash-settled phantom shares (derivative award) on 2026-05-27. The grant is recorded as an award (code A) and does not involve buying or selling common stock today. No per-share price or immediate equity transfer is reported because these are cash-settled phantom shares whose value is tied to Suzano’s common share price and will be paid in cash upon vesting.

Key Details

• Transaction date: 2026-05-27; Form 4 filed 2026-05-28 (timely).
• Grant: 37,743 phantom shares (derivative award); price: N/A (cash-settled).
• Vesting: scheduled for 04/01/2029, subject to conditions (see footnotes).
• Shares owned after transaction: not disclosed in this filing.
• Footnotes: F1/F2 — phantom shares reference one Suzano common share each and will be settled in cash upon vesting; value tied to market price and subject to plan terms.

Context
This is a deferred compensation award, not an open‑market purchase or sale, so it does not represent an immediate change in share ownership or a direct market signal. The economic exposure is through future cash settlement based on Suzano’s stock price if vesting conditions are met.