Ambev (ABEV) officer Paulo Andre Zagman reports equity and option holdings

Rhea-AI Filing Summary

AMBEV S.A. officer Paulo Andre Zagman filed an initial Form 3 reporting his existing equity interests in the company. He holds common shares directly, including 332,071 common shares, along with several blocks of restricted shares that each represent a right to receive one common share minus withholding taxes.

The restricted shares relate to multiple incentive awards that vest on future dates, including December 1, 2026, March 1, 2027, December 1, 2027, December 14, 2027, February 28, 2028, and December 1, 2028. He also reports stock options over common shares at exercise prices such as 3.26, 3.91, 3.22, and 3.43 per share, with expirations between December 2026 and December 2029. The filing records his current holdings and does not show any new purchases or sales.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Zagman Paulo Andre

(Last) (First) (Middle)

RUA DR. RENATO PAES DE BARROS, 1017

4TH FLOOR

(Street)

SAO PAULO BRAZIL 04530-001

(City) (State) (Zip)

BRAZIL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
AMBEV S.A. [ ABEV ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	332,071(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Shares	(2)	(2)	Common Shares	183,599	(3)	D
Restricted Shares	(4)	(4)	Common Shares	216,335	(3)	D
Restricted Shares	(5)	(5)	Common Shares	208,097	(3)	D
Restricted Shares	(6)	(6)	Common Shares	662,259	(3)	D
Restricted Shares	(7)	(7)	Common Shares	137,218	(3)	D
Restricted Shares	(8)	(8)	Common Shares	116,901	(3)	D
Stock Options (Right to Buy)	12/01/2021	12/02/2026	Common Shares	90,211	$3.26	D
Stock Options (Right to Buy)	12/01/2022	12/02/2027	Common Shares	59,490	$3.91	D
Stock Options (Right to Buy)	12/03/2023	12/04/2028	Common Shares	76,555	$3.22	D
Stock Options (Right to Buy)	12/02/2024	12/03/2029	Common Shares	123,963	$3.43	D

Explanation of Responses:

1. Includes certain common shares represented by American Depositary Shares, each of which represents one common share.

2. These restricted shares vest on December 1, 2026.

3. Each restricted share represents a contingent right to receive one common share minus withholding taxes.

4. These restricted shares vest on March 1, 2027.

5. These restricted shares vest on December 1, 2027.

6. These restricted shares vest on December 14, 2027.

7. These restricted shares vest on February 28, 2028.

8. These restricted shares vest on December 1, 2028.

Remarks:

Logistics Vice President Officer. All prices were converted from Brazilian Real (BRL) to U.S. Dollars (USD) based on the foreign exchange rate as of March 17, 2026 (at USD 1.00 = BRL 5.26).

	/s/ Paulo Andre Zagman	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does the Ambev (ABEV) Form 3 filing for Paulo Andre Zagman show?

The Form 3 shows that officer Paulo Andre Zagman already holds Ambev equity, including 332,071 common shares, multiple tranches of restricted shares, and several stock option grants with stated exercise prices and expiration dates, all reported as direct ownership.

Did Paulo Andre Zagman buy or sell Ambev (ABEV) shares in this Form 3?

The filing does not report any new buy or sell transactions. It is an initial statement of beneficial ownership listing existing common shares, restricted share awards, and stock options, rather than recording open-market purchases or sales of Ambev shares.

What kinds of Ambev (ABEV) equity awards does Paulo Andre Zagman hold?

He holds restricted shares, each representing a right to receive one common share minus withholding taxes, plus multiple stock option grants over Ambev common shares. The options have exercise prices around 3.22–3.91 and expire between December 2026 and December 2029.

When do Paulo Andre Zagman’s Ambev (ABEV) restricted shares vest?

The restricted shares vest in stages on several dates: December 1, 2026, March 1, 2027, December 1, 2027, December 14, 2027, February 28, 2028, and December 1, 2028. Each vested restricted share delivers one Ambev common share minus taxes.

How are Ambev (ABEV) American Depositary Shares treated in this Form 3?

The filing notes that reported holdings include certain common shares represented by American Depositary Shares, with each ADS representing one common share. This means some of Mr. Zagman’s beneficial ownership is held through ADS form rather than directly as ordinary common shares.

What does this Ambev (ABEV) Form 3 mean for existing shareholders?

The Form 3 simply discloses Paulo Andre Zagman’s existing Ambev equity position as an officer. It outlines his current common shares, restricted shares, and stock options, but does not introduce new share issuances or market transactions that would directly change the share count outstanding.