Kanovich Sebastian 4
4 · dLocal Ltd · Filed Jul 9, 2026
Research Summary
AI-generated summary of this filing
dLocal (DLO) Director Sebastian Kanovich Sells 25,700 Shares
What Happened
Director Sebastian Kanovich directed the sale of 25,700 shares of dLocal (DLO) on July 7, 2026. The shares were sold in an open-market transaction at $15.50 per share for total proceeds of $398,350. The sale followed the automatic conversion of 25,700 Class B common shares into Class A common shares at the time the sale was executed.
Key Details
- Transaction date: July 7, 2026; Form 4 filed July 9, 2026 (no late filing indicated).
- Sale: 25,700 shares disposed in the open market at $15.50 per share; proceeds $398,350.
- Conversion: 25,700 Class B shares converted into Class A shares upon execution of the sale (conversion recorded as derivative transaction at $0).
- Plan: Transactions were made pursuant to a Rule 10b5-1 trading plan adopted on November 26, 2025.
- Shares owned after transaction: Not disclosed in the provided filing details.
Context
This was a planned sale under a 10b5-1 plan and involved conversion of convertible Class B shares into tradable Class A shares at the time of sale. Such pre-established trading plans are commonly used to schedule sales in advance and do not, by themselves, indicate the insider’s current view of the company. The conversion entry at $0 reflects the share-class conversion rather than a cash exercise.
Insider Transaction Report
- Conversion
Class A Common Share
[F2][F1]2026-07-07+25,700→ 25,700 total - Sale
Class A Common Share
[F2]2026-07-07$15.50/sh−25,700$398,350→ 0 total - Conversion
Class B Common Share
[F1][F2]2026-07-07−25,700→ 11,603,774 total→ Class A Common Share (25,700 underlying)
Footnotes (2)
- [F1]Each Class B Common Share has no expiration date and may be converted into one Class A Common Share at any time at the option of the reporting person. On July 7, 2026, the reporting person directed the sale of 25,700 of his Class B Common Shares, resulting in the automatic conversion of the shares into Class A Common Shares upon execution of the sale.
- [F2]The conversion and sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 11/26/2025