Ambev S.A. (ABEV) director reports extensive direct and indirect holdings

Rhea-AI Filing Summary

AMBEV S.A. director Carlos De Marchi Victorio filed an initial Form 3 reporting his equity interests in the company. He reports direct ownership of 1,477,693 common shares and indirect ownership of 25,653,369 common shares through DM Investimentos S.A., where he is the financial beneficial owner.

He also reports multiple grants of restricted shares that each represent a right to receive one common share minus withholding taxes, with vesting dates running from December 1, 2026 through December 1, 2030. In addition, he holds several stock option awards over hundreds of thousands of common shares with exercise prices between 3.22 and 3.91 and expirations from 2026 to 2029.

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^*

Carlos De Marchi Victorio

(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)

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

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	1,477,693	D
Common Shares	25,653,369	I	By DM Investimentos S.A.(1)

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	331,074	(3)	D
Restricted Shares	(4)	(4)	Common Shares	577,036	(3)	D
Restricted Shares	(5)	(5)	Common Shares	560,950	(3)	D
Restricted Shares	(6)	(6)	Common Shares	38,689	(3)	D
Restricted Shares	(7)	(7)	Common Shares	39,505	(3)	D
Restricted Shares	(8)	(8)	Common Shares	33,289	(3)	D
Stock Options (Right to Buy)	12/01/2021	12/02/2026	Common Shares	425,043	$3.26	D
Stock Options (Right to Buy)	12/01/2022	12/02/2027	Common Shares	378,784	$3.91	D
Stock Options (Right to Buy)	12/03/2023	12/04/2028	Common Shares	487,437	$3.22	D
Stock Options (Right to Buy)	12/02/2024	12/03/2029	Common Shares	634,862	$3.43	D

Explanation of Responses:

1. The reporting person is the financial beneficial owner of DM Investimentos S.A.

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 1, 2028.

7. These restricted shares vest on December 2, 2029.

8. These restricted shares vest on December 1, 2030.

Remarks:

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/ Victorio Carlos De Marchi	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 by Carlos De Marchi Victorio show?

The Form 3 shows Carlos De Marchi Victorio’s initial reported holdings in Ambev. He lists direct common shares, indirect common shares via DM Investimentos S.A., plus several restricted share grants and stock option awards over Ambev common shares.

How many Ambev (ABEV) common shares does Carlos De Marchi Victorio hold directly and indirectly?

He reports direct ownership of 1,477,693 Ambev common shares. Indirectly, 25,653,369 common shares are held through DM Investimentos S.A., for which he is described as the financial beneficial owner, according to the filing’s ownership details and footnote.

What restricted share awards are reported in the Ambev (ABEV) Form 3?

The filing lists several restricted share grants, each representing a contingent right to receive one Ambev common share minus withholding taxes. Footnotes state vesting dates on December 1, 2026, March 1, 2027, December 1, 2027, December 1, 2028, December 2, 2029, and December 1, 2030.

What stock options does Carlos De Marchi Victorio report in Ambev (ABEV)?

He reports multiple stock option awards over Ambev common shares. Exercise prices are 3.26, 3.91, 3.22 and 3.43, with stated expiration dates in 2026, 2027, 2028 and 2029, providing long-dated rights to buy Ambev common shares at those prices.

What is DM Investimentos S.A.’s role in the Ambev (ABEV) Form 3 filing?

The filing shows 25,653,369 Ambev common shares held indirectly through DM Investimentos S.A. A footnote explains the reporting person is the financial beneficial owner of DM Investimentos S.A., clarifying why these indirectly held shares appear in the ownership report.

Does the Ambev (ABEV) Form 3 indicate any recent insider buying or selling?

The Form 3 is an initial statement of beneficial ownership and lists holdings rather than specific purchases or sales. All entries are coded as holdings, and the transaction summary shows no recorded buys, sells, exercises, gifts or tax-withholding dispositions.