Kanovich Sebastian 4

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.