Patria Investments (PAX) infrastructure CEO reports Class A and Class B share stakes

Rhea-AI Filing Summary

Patria Investments Ltd executive Andre Franco Sales, CEO and CIO of Infrastructure, disclosed his equity holdings in a Form 3. He directly holds 319,418 Class A Common Shares, including 138,302 unvested restricted share units under the matching share program and 181,116 Class A shares he owns. He also indirectly holds 276,620 Class B Common Shares through Patria Holdings Limited, which are directly held by AMGS Investments Limited, an entity he owns and controls. Class B shares are convertible in certain circumstances into an equivalent number of Class A shares and carry 10 votes per share, giving him meaningful voting power relative to his economic stake.

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

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1. Name and Address of Reporting Person^*

Sales Andre Franco

(Last) (First) (Middle)

60 NEXUS WAY, 4TH FLOOR

(Street)

CAMANA BAY GRAND CAYMAN KY1-9006

(City) (State) (Zip)

CAYMAN ISLANDS

(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)
	CEO and CIO of Infrastructure

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	319,418	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
Class B Common Shares	(2)	(2)	Class A Common Shares	276,620	(2)	I	See Footnote(3)

Explanation of Responses:

1. Consists of 138,302 unvested restricted share units pursuant to the Issuer's matching share program, and 181,116 Class A Common Shares owned by the Reporting Person.

2. Class B Common Shares are convertible under certain circumstances into an equivalent number of Class A Common Shares. Class B Common Shares are entitled to 10 votes per share.

3. Represents Class B Common Shares beneficially owned by Patria Holdings Limited which are directly held by AMGS Investments Limited, an entity owned and controlled by the Reporting Person.

	/s/ Andre Franco Sales	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)

FAQ

What insider position did Andre Franco Sales report in Patria Investments (PAX)?

Andre Franco Sales reported significant equity holdings in Patria Investments. He directly holds 319,418 Class A Common Shares and indirectly holds 276,620 Class B Common Shares through an entity he owns and controls, giving him both economic and voting exposure to the company.

How many Patria Investments (PAX) Class A shares does Andre Franco Sales hold?

Andre Franco Sales holds 319,418 Class A Common Shares. This includes 138,302 unvested restricted share units from the matching share program and 181,116 Class A shares owned outright, combining current ownership with equity-based compensation exposure.

What indirect holdings in Patria Investments (PAX) did Andre Franco Sales disclose?

He indirectly holds 276,620 Class B Common Shares. These are beneficially owned by Patria Holdings Limited and directly held by AMGS Investments Limited, an entity owned and controlled by him, indicating influence through a related investment vehicle.

What is special about Patria Investments (PAX) Class B Common Shares?

Class B Common Shares are convertible under certain circumstances into an equivalent number of Class A Common Shares. They also carry 10 votes per share, providing enhanced voting power compared with Class A, which affects governance influence more than economic ownership.

Does this Patria Investments (PAX) Form 3 show insider buying or selling?

The Form 3 does not report new buying or selling activity. It is an initial statement of beneficial ownership, listing existing direct and indirect holdings rather than transactions, so it mainly clarifies the executive’s current equity position.

How much of Andre Franco Sales’s Patria Investments (PAX) stake is in restricted share units?

His direct Class A position includes 138,302 unvested restricted share units. These RSUs come from the issuer’s matching share program and represent additional potential shares that will vest over time, aligning his compensation with shareholder outcomes.