Cosan director buys 159,000 shares in Brazil

Rhea-AI Filing Summary

Cosan S.A. (CSAN) director Cordes Burkhard Otto reported indirect open‑market purchases of a total of 159,000 common shares (BVMF: CSAN3) on May 18 and May 26, 2026 through fund DGF UBER ALLES FIM CP IE, at prices in Brazilian reais. The filing also reports direct holdings of 42,332 common shares and 857,610 ADSs, each ADS representing four common shares. No Rule 10b5‑1 trading plan is reported, and the Form 4 was refiled to correct the issuer CIK.

Insider Trade Summary

Net Buyer: 159,000 shares

Net Buy 6 txns

Insider Cordes Burkhard Otto

Role Director

Bought 159,000 shs ($696K)

Type	Security	Shares	Price	Value
Purchase	COMMON STOCK (BVMF: CSAN3) F1	10,000	$4.27	$43K
Purchase	COMMON STOCK (BVMF: CSAN3) F1	50,000	$4.26	$213K
Purchase	COMMON STOCK (BVMF: CSAN3) F1	10,000	$4.25	$43K
Purchase	COMMON STOCK (BVMF: CSAN3) F1	89,000	$4.47	$398K
holding	COMMON STOCK (BVMF: CSAN3)	--	--	--
holding	ADS CSAN F2	--	--	--

Holdings After Transaction: COMMON STOCK (BVMF: CSAN3) — 1,509,000 shares (Indirect, DGF UBER ALLES FIM CP IE); COMMON STOCK (BVMF: CSAN3) — 42,332 shares (Direct); ADS CSAN — 857,610 shares (Direct)

Footnotes (2)

1. F1. Amounts stated in Brazilian reais.
2. F2. Each American Depositary Share represents four shares of Common Stock.

Key Figures

Total common shares purchased indirectly: 159,000 shares Purchase block: 10,000 shares at R$4.27 per share Purchase block: 50,000 shares at R$4.26 per share +4 more

7 metrics

Total common shares purchased indirectly 159,000 shares Net open‑market purchases on May 18 and May 26, 2026

Purchase block 10,000 shares at R$4.27 per share Common stock (BVMF: CSAN3) on May 26, 2026 via DGF UBER ALLES FIM CP IE

Purchase block 50,000 shares at R$4.26 per share Common stock (BVMF: CSAN3) on May 26, 2026 via DGF UBER ALLES FIM CP IE

Purchase block 10,000 shares at R$4.25 per share Common stock (BVMF: CSAN3) on May 26, 2026 via DGF UBER ALLES FIM CP IE

Purchase block 89,000 shares at R$4.47 per share Common stock (BVMF: CSAN3) on May 18, 2026 via DGF UBER ALLES FIM CP IE

Direct common shares held 42,332 shares Direct ownership of Cosan S.A. common stock as of May 18, 2026

Direct ADSs held 857,610 ADSs ADS CSAN position as of May 18, 2026; each ADS equals four common shares

Key Terms

American Depositary Share, indirect ownership, Brazilian reais, open market or private transaction

4 terms

American Depositary Share financial

"Each American Depositary Share represents four shares of Common Stock."

An American Depositary Share (ADS) is a U.S.-listed certificate that represents a specified number of shares in a foreign company, held by a custodian bank; it works like a receipt that allows U.S. investors to buy and trade foreign equity on American exchanges without dealing with another country’s markets. Investors care because ADSs make foreign stocks easier to access, improve liquidity and settlement in dollars, and can affect dividend payments, voting rights and regulatory oversight compared with buying the underlying foreign shares directly.

indirect ownership financial

"The common stock purchases are reported as indirect ownership via a fund."

Brazilian reais financial

"Amounts stated in Brazilian reais."

open market or private transaction financial

"Purchase in open market or private transaction"

FAQ

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

What insider transactions did Cosan S.A. (CSAN) report in this Form 4?

The Form 4 reports that director Cordes Burkhard Otto indirectly purchased 159,000 common shares of Cosan S.A. (BVMF: CSAN3) in open‑market transactions on May 18 and May 26, 2026 through DGF UBER ALLES FIM CP IE.

At what prices were the Cosan S.A. (CSAN) shares bought in this filing?

The reported purchases were at prices of R$4.47, R$4.27, R$4.26, and R$4.25 per common share, with all amounts stated in Brazilian reais according to the filing footnote.

What are Cordes Burkhard Otto’s direct holdings in Cosan S.A. (CSAN) after these transactions?

The filing shows direct holdings of 42,332 common shares of Cosan S.A. and 857,610 ADSs. A footnote states that each American Depositary Share represents four shares of common stock.

Were the Cosan S.A. (CSAN) insider purchases under a Rule 10b5-1 trading plan?

No. The document‑level checkbox for Rule 10b5‑1 is marked false, and there is no footnote indicating that the reported transactions were made pursuant to a Rule 10b5‑1 trading plan.

Why was this Cosan S.A. (CSAN) Form 4 refiled?

The Form 4 was originally filed on June 9, 2026 under the CIK of Cosan Ltd. The filer states it is being refiled due to an administrative error, now under the correct Cosan S.A. CIK.

Who executed the indirect Cosan S.A. (CSAN) share purchases reported here?

The indirect purchases are attributed to DGF UBER ALLES FIM CP IE, which holds the common stock. Director Cordes Burkhard Otto reports these as indirect ownership in the filing.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 09/15/2026 - 04:42 PM Accepted by SEC EDGAR 09/15/2026 - 04:41 PM Learn about SEC filing dates

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cordes Burkhard Otto

(Last) (First) (Middle)

AV. BRIGADEIRO FARIA LIMA, 4100

16TH FLOOR

(Street)

SAO PAULO 01546-100

(City) (State) (Zip)

BRAZIL

(Country)

2. Issuer Name and Ticker or Trading Symbol
Cosan S.A. [ CSAN ]

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

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

2a. Foreign Trading Symbol
[CSAN3]

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
COMMON STOCK (BVMF: CSAN3)	05/18/2026		P		89,000	A	$4.47(1)	1,439,000	I	DGF UBER ALLES FIM CP IE
COMMON STOCK (BVMF: CSAN3)	05/26/2026		P		10,000	A	$4.27(1)	1,449,000	I	DGF UBER ALLES FIM CP IE
COMMON STOCK (BVMF: CSAN3)	05/26/2026		P		50,000	A	$4.26(1)	1,499,000	I	DGF UBER ALLES FIM CP IE
COMMON STOCK (BVMF: CSAN3)	05/26/2026		P		10,000	A	$4.25(1)	1,509,000	I	DGF UBER ALLES FIM CP IE
COMMON STOCK (BVMF: CSAN3)								42,332	D
ADS CSAN(2)								857,610	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Amounts stated in Brazilian reais.

2. Each American Depositary Share represents four shares of Common Stock.

Remarks:

This Form 4 was initially filed on June 9, 2026. Due to an administrative error it was filed under the CIK of Cosan Ltd. It is being refiled under the correct CIK.

	/s/ Cordes Burkhard Otto	09/15/2026
	** 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 4 (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 4: SEC 1474 (03-26)