Ambev (NYSE: ABEV) director discloses two large stock option positions

Rhea-AI Filing Summary

AMBEV S.A. director Fernando Tennenbaum filed a Form 3 reporting his holdings of stock options on the company’s common shares. The data shows stock options with rights to buy 205,698 shares at an exercise price of 3.2200 per share, expiring on December 4, 2028, and additional options over 253,317 shares at an exercise price of 3.4300, expiring on December 3, 2029. All positions are reported as held directly.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Tennenbaum Fernando

Role Director

Type	Security	Shares	Price	Value
holding	Stock Options (Right to Buy)	--	--	--
holding	Stock Options (Right to Buy)	--	--	--

Holdings After Transaction: Stock Options (Right to Buy) — 205,698 shares (Direct)

Footnotes (1)

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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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Tennenbaum Fernando

(Last) (First) (Middle)

RUA DR. RENATO PAES DE BARROS, 1017

4TH FLOOR

(Street)

SAO PAULO D5 04530-001

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

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

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

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

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

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)

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
Stock Options (Right to Buy)	12/03/2023	12/04/2028	Common Shares	205,698	$3.22	D
Stock Options (Right to Buy)	12/02/2024	12/03/2029	Common Shares	253,317	$3.43	D

Explanation of Responses:

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/ Fernando Mommensohn Tennenbaum	03/17/2026
	** 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.

FAQ

What insider position does Fernando Tennenbaum report in Ambev (ABEV) Form 3?

Fernando Tennenbaum reports holding stock options on Ambev common shares. The Form 3 data lists two option positions, each giving him the right to buy a large block of shares at preset exercise prices before specified expiration dates.

How many Ambev (ABEV) shares are covered by Fernando Tennenbaum’s stock options?

The Form 3 shows stock options over 205,698 Ambev common shares at one strike price and 253,317 shares at another. Together, these two option positions provide rights to acquire substantial equity exposure if exercised.

What are the exercise prices of Fernando Tennenbaum’s Ambev (ABEV) stock options?

The reported options have exercise prices of 3.2200 and 3.4300 per share. These preset prices define the cost at which he may purchase Ambev common shares if he chooses to exercise the options before they expire.

When do Fernando Tennenbaum’s Ambev (ABEV) stock options expire?

The Form 3 data shows one option series expiring on December 4, 2028, and the other on December 3, 2029. These expiration dates limit how long he can hold the rights to buy Ambev common shares at the stated exercise prices.

Are Fernando Tennenbaum’s Ambev (ABEV) stock options held directly or indirectly?

The filing classifies both stock option positions as held directly by Fernando Tennenbaum. The ownership code is marked as direct, and no additional nature of ownership description or indirect holding entity is provided in the supplied data.