Patria Investments (PAX) CFO discloses share and unit holdings

Rhea-AI Filing Summary

Patria Investments Ltd Chief Financial Officer Ana Cristina Russo filed an initial ownership report listing her equity interests in the company. She holds 102,670 Class A Common Shares in total, consisting of 51,335 unvested restricted share units under the matching share program and 51,335 Class A Common Shares. She also holds performance share units that can settle in 34,966 and 42,159 Class A Common Shares, which vest in three equal annual installments beginning on the third anniversary of the grant date if specified total shareholder return goals are met and her employment continues through each vesting date.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Russo Ana Cristina

Role Chief Financial Officer

Type	Security	Shares	Price	Value
holding	Performance Share Unit	--	--	--
holding	Performance Share Unit	--	--	--
holding	Class A Common Shares	--	--	--

Holdings After Transaction: Performance Share Unit — 77,125 shares (Direct); Class A Common Shares — 102,670 shares (Direct)

Footnotes (2)

1. F1. Consists of 51,335 unvested restricted share units pursuant to the Issuer's matching share program, and 51,335 Class A Common Shares owned by the Reporting Person.
2. F2. The Performance Shares vest and are settled in Class A Common Shares in three equal annual installments beginning on the third anniversary of the grant date subject to (i) the achievement of specified Total Shareholder Return goals and (ii) continuous employment through the applicable vesting date.

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Accepted by SEC EDGAR 03/18/2026 - 08:36 AM Learn about SEC filing dates

FAQ

What insider holdings did PAX CFO Ana Cristina Russo report on this Form 3?

Ana Cristina Russo reported 102,670 Class A Common Shares, made up of 51,335 unvested restricted share units and 51,335 Class A shares. She also holds performance share units tied to additional Class A shares, subject to future vesting conditions.

How many performance share units tied to PAX Class A shares does the CFO hold?

She holds two blocks of performance share units linked to 34,966 and 42,159 underlying Class A Common Shares. These units have an exercise price of 0.0000 and are settled in shares if vesting conditions are satisfied over time.

What are the vesting conditions for PAX CFO’s performance share units?

The performance share units vest and settle in Class A Common Shares in three equal annual installments starting on the third anniversary of the grant date. Vesting requires meeting specified total shareholder return goals and maintaining continuous employment through each vesting date.

What restricted share units did PAX CFO Ana Cristina Russo disclose?

She disclosed 51,335 unvested restricted share units granted under Patria Investments’ matching share program. These units are part of her total 102,670 Class A Common Share interest, alongside 51,335 Class A shares that she directly owns, according to the footnote description.

Does the PAX Form 3 for the CFO show any recent insider buying or selling?

No specific buy or sell transactions are identified; the entries are classified as holdings with unknown transaction codes. The Form 3 primarily establishes Ana Cristina Russo’s initial ownership position in shares, restricted share units, and performance share units at Patria Investments.

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^*

Russo Ana Cristina

(Last) (First) (Middle)

60 NEXUS WAY, 4TH FLOOR

(Street)

CAMANA BAY KY1-9006

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Patria Investments Ltd [ PAX ]

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)

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

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)
Class A Common Shares	102,670	D(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
Performance Share Unit	(2)	(2)	Class A Common Shares	34,966	(2)	D
Performance Share Unit	(2)	(2)	Class A Common Shares	42,159	(2)	D

Explanation of Responses:

1. Consists of 51,335 unvested restricted share units pursuant to the Issuer's matching share program, and 51,335 Class A Common Shares owned by the Reporting Person.

2. The Performance Shares vest and are settled in Class A Common Shares in three equal annual installments beginning on the third anniversary of the grant date subject to (i) the achievement of specified Total Shareholder Return goals and (ii) continuous employment through the applicable vesting date.

	/s/ Ana Cristina Russo	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)