Azul director David Neeleman files Form 3

Azul SA director David Neeleman has reported his initial holdings of the company’s common stock on a Form 3.

Rhea-AI Filing Summary

Azul SA director David Neeleman has reported his initial holdings of the company’s common stock on a Form 3. He holds 25,958,221 shares directly and an additional 390,218 shares indirectly through Saleb II Founder 1 LLC, which is wholly owned and controlled by him.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider NEELEMAN DAVID

Role Director

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 25,958,221 shares (Direct); Common Stock — 390,218 shares (Indirect, By Saleb II Founder 1 LLC)

Footnotes (1)

1. F1. Saleb II Founder 1 LLC is wholly owned and controlled by David Neeleman.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does David Neeleman’s Form 3 for AZLUD show?

The Form 3 shows David Neeleman’s initial ownership in Azul SA common stock. He reports holding 25,958,221 shares directly and 390,218 shares indirectly through Saleb II Founder 1 LLC, which he wholly owns and controls.

How many Azul (AZLUD) shares does David Neeleman own directly and indirectly?

David Neeleman reports direct ownership of 25,958,221 Azul SA common shares. He also reports indirect ownership of 390,218 additional shares held through Saleb II Founder 1 LLC, bringing his disclosed total exposure to over 26 million shares.

What is Saleb II Founder 1 LLC in David Neeleman’s AZLUD Form 3?

Saleb II Founder 1 LLC is an entity through which David Neeleman indirectly holds 390,218 Azul SA common shares. The footnote states that Saleb II Founder 1 LLC is wholly owned and controlled by David Neeleman, linking those indirect holdings to him.

Does David Neeleman’s AZLUD Form 3 show any recent share purchases or sales?

The Form 3 functions as an initial ownership report and shows holding entries only. It discloses David Neeleman’s direct and indirect common stock positions but does not report any specific purchase, sale, or other transaction amounts or prices.

What role does David Neeleman hold at Azul SA according to the Form 3?

The Form 3 identifies David Neeleman as a director of Azul SA. This director status, combined with his substantial direct and indirect shareholdings, classifies him as an insider required to disclose his equity position in the company’s common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/17/2026 - 06:07 AM EDT Learn about SEC filing dates

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^*

NEELEMAN DAVID

(Last) (First) (Middle)

AV. MARCOS PENTEADO ULHOA RODRIGES

939 TAMBORE, BARUERI

(Street)

SAO PAULO D5 06460-040

(City) (State) (Zip)

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

3. Issuer Name and Ticker or Trading Symbol
AZUL SA [ AZUL ]

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)
Common Stock	25,958,221	D
Common Stock	390,218	I	By Saleb II Founder 1 LLC(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

Explanation of Responses:

1. Saleb II Founder 1 LLC is wholly owned and controlled by David Neeleman.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Alexandre Wagner Malfitani, Attorney-in-Fact	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.