BrasilAgro (LND) director Alejandro Elsztain adds 29,000 ADRs in open-market buys

Rhea-AI Filing Summary

BrasilAgro - Brazilian Agricultural Real Estate Co director buys more ADRs. Director Alejandro Gustavo Elsztain made two open-market purchases of the company’s American Depositary Receipts. He bought 14,500 ADRs on June 29 at an average price of $3.5799 and another 14,500 ADRs on June 30 at $3.5655 per ADR.

Across the two days, he acquired a total of 29,000 ADRs in the open market. Following the most recent transaction, he directly owns 670,370 ADRs of BrasilAgro.

Insider Trade Summary

Net Buyer: 29,000 shares

Net Buy 2 txns

Insider Elsztain Alejandro Gustavo

Role Director

Bought 29,000 shs ($104K)

Type	Security	Shares	Price	Value
Purchase	American Depositary Receipts (ADR)	14,500	$3.5655	$52K
Purchase	American Depositary Receipts (ADR)	14,500	$3.5799	$52K

Holdings After Transaction: American Depositary Receipts (ADR) — 670,370 shares (Direct)

Key Figures

June 30 purchase: 14,500 ADRs at $3.5655 June 29 purchase: 14,500 ADRs at $3.5799 Total recent purchases: 29,000 ADRs +1 more

4 metrics

June 30 purchase 14,500 ADRs at $3.5655 Open-market buy on June 30

June 29 purchase 14,500 ADRs at $3.5799 Open-market buy on June 29

Total recent purchases 29,000 ADRs Combined June 29–30 open-market buys

Holdings after transactions 670,370 ADRs Direct ownership following June 30 trade

Key Terms

American Depositary Receipts (ADR), open-market purchase, non-derivative, Form 4

4 terms

American Depositary Receipts (ADR) financial

"He bought 14,500 ADRs on June 29 at an average price of $3.5799"

open-market purchase financial

"Across the two days, he acquired a total of 29,000 ADRs in the open market."

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

non-derivative financial

"The reported transactions are open-market purchases of non-derivative securities."

Form 4 regulatory

"These figures reflect open-market purchase prices per ADR reported in the Form 4 filing."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/30/2026 - 05:14 PM Accepted by SEC EDGAR 06/30/2026 - 05:13 PM Learn about SEC filing dates

FAQ

What insider transactions did LND director Alejandro Gustavo Elsztain report?

Director Alejandro Gustavo Elsztain reported two open-market purchases of BrasilAgro (LND) ADRs. He bought 14,500 ADRs on June 29 and another 14,500 ADRs on June 30, for a combined 29,000 ADRs acquired.

At what prices did Alejandro Gustavo Elsztain buy BrasilAgro (LND) ADRs?

Elsztain purchased BrasilAgro ADRs at average prices of $3.5799 on June 29 and $3.5655 on June 30. These figures reflect open-market purchase prices per ADR reported in the Form 4 filing.

How many BrasilAgro (LND) ADRs does Alejandro Gustavo Elsztain now hold?

Following the latest reported open-market purchase, Alejandro Gustavo Elsztain directly owns 670,370 BrasilAgro ADRs. This total reflects his direct holdings after acquiring 29,000 additional ADRs across two consecutive trading days.

What is the total size of Alejandro Gustavo Elsztain’s recent ADR purchases in LND?

The Form 4 shows Elsztain bought a total of 29,000 BrasilAgro ADRs in the open market. This consists of 14,500 ADRs on June 29 and another 14,500 ADRs on June 30, at prices slightly above $3.56 per ADR.

Were the recent LND insider transactions by Alejandro Gustavo Elsztain market purchases or another type?

The reported transactions are open-market purchases of non-derivative securities. Both trades are coded as “P” in the Form 4, indicating standard open-market or private purchase transactions in BrasilAgro’s American Depositary Receipts.

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^*

Elsztain Alejandro Gustavo

(Last) (First) (Middle)

CARLOS DELLA PAOLERA 261, 9TH FLOOR

(Street)

BUENOS AIRES C1001ADA

(City) (State) (Zip)

ARGENTINA

(Country)

2. Issuer Name and Ticker or Trading Symbol
BrasilAgro - Brazilian Agricultural Real Estate Co [ LND ]

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
[AGRO3]

3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026

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
American Depositary Receipts (ADR)	06/29/2026		P		14,500	A	$3.5799	655,870	D
American Depositary Receipts (ADR)	06/30/2026		P		14,500	A	$3.5655	670,370	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:

	Amalia Cristina Sternheim as Attorney-in-Fact for Alejandro Gustavo Elsztain	06/30/2026
	** 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)