Goncalves da Cruz Andre 4

What Happened
Goncalves da Cruz Andre, Technical Vice President of AZUL S.A. (AZUL), received a grant of 255,024 restricted-share rights on 2026-06-15. The award was reported as an acquisition at $0.00 (i.e., a compensation grant rather than a market purchase). The Restricted Shares vest in three equal annual installments — May 5, 2027, May 5, 2028 and May 5, 2029 — contingent on the reporting person’s continued service on each vesting date.

Key Details

• Transaction date: 2026-06-15; Form 4 filed 2026-06-17 (appears timely under the two-business-day rule).
• Transaction type/code: Grant/Award (A). Reported acquisition price: $0.00.
• Shares/rights granted: 255,024 restricted-share rights.
• Vesting: Three equal annual installments on May 5, 2027; May 5, 2028; May 5, 2029, subject to continued service.
• Settlement note: If the company lacks sufficient treasury shares at vesting, the reporting person would subscribe for the shares at a nominal R$1.00 per share (Brazilian reais).
• Shares owned after transaction: Not specified in the filing.

Context
This is a standard compensation award — not a market purchase or sale — meaning no immediate cash changed hands and no shares were sold. Grants align executive pay with shareholder outcomes over time; purchases/sales usually provide more direct signals about an insider’s trading stance.