Director adds 45K Patria (PAX) Class A shares in open-market buys

Q: What insider transactions did Patria Investments (PAX) report for Neto Olimpio Matarazzo?

Matarazzo reported three open-market purchases totaling 45,000 Class A shares . These were executed on May 15, 20, and 21, 2026 at prices around $11 per share , all held indirectly through Olympic Bahamas Limited.

Q: At what prices did the Patria Investments (PAX) director buy Class A shares?

The purchases were at weighted average prices of $11.40 , $10.99 , and $11.14 per share. Each transaction covered 15,000 shares , executed on separate days in open-market trades.

Q: How many Patria Investments (PAX) shares does Matarazzo hold after these transactions?

After the reported trades, Matarazzo indirectly holds 45,000 Class A shares via Olympic Bahamas Limited and directly holds 425,724 Class A shares , combining vested stock, unvested restricted share units, and matching share program units.

Q: What portion of Matarazzo’s Patria Investments (PAX) holdings are unvested awards?

His direct position includes 71,340 unvested restricted share units and 69,675 unvested share units from the issuer’s matching share program. These represent share-based compensation that is scheduled to vest over time.

Q: How are the newly purchased Patria Investments (PAX) shares held?

The 45,000 newly purchased Class A shares are beneficially owned by Patria Holdings Limited and are directly held by Olympic Bahamas Limited , an entity owned and controlled by Matarazzo, reflecting indirect ownership on his Form 4.

Filing Impact

(High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Patria Investments Ltd director Neto Olimpio Matarazzo reported a series of open-market purchases of Class A Common Shares. On May 15, 2026, an entity he owns and controls, Olympic Bahamas Limited, bought 15,000 shares at $11.40 per share. On May 20, 2026, it bought another 15,000 shares at $10.99, and on May 21, 2026, it added 15,000 shares at $11.14, for a total of 45,000 shares acquired indirectly.

Following these transactions, Matarazzo indirectly holds 45,000 Class A shares through Olympic Bahamas Limited. He also has a separate direct position of 425,724 Class A shares, consisting of 71,340 unvested restricted share units, 69,675 unvested share units under the issuer’s matching share program, and 284,709 directly owned Class A shares.

Insider Trade Summary

Net Buyer: 45,000 shares ($502,950)

Net Buy 4 txns

Insider Neto Olimpio Matarazzo

Role null

Bought 45,000 shs ($503K)

Type	Security	Shares	Price	Value
Purchase	Class A Common Shares	15,000	$11.14	$167K
Purchase	Class A Common Shares	15,000	$10.99	$165K
Purchase	Class A Common Shares	15,000	$11.40	$171K
holding	Class A Common Shares	--	--	--

Holdings After Transaction: Class A Common Shares — 45,000 shares (Indirect, See Footnote); Class A Common Shares — 425,724 shares (Direct, null)

Footnotes (1)

The price reported in Column 4 is a weighted average price. These Class A Common Shares were purchased in multiple transactions at prices ranging from $11.32 to $11.44, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4. The price reported in Column 4 is a weighted average price. These Class A Common Shares were purchased in multiple transactions at prices ranging from $10.84 to $11.09, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4. The price reported in Column 4 is a weighted average price. These Class A Common Shares were purchased in multiple transactions at prices ranging from $11.08 to $11.16, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (3) to this Form 4. Consists of 71,340 unvested restricted share units, 69,675 unvested share units pursuant to the Issuer's matching share program, and 284,709 Class A Common Shares owned by the Reporting Person. Represents Class A Common Shares beneficially owned by Patria Holdings Limited, which were purchased and are directly held by Olympic Bahamas Limited, an entity owned and controlled by the Reporting Person.

Key Figures

Open-market buy (May 15, 2026): 15,000 shares at $11.40 Open-market buy (May 20, 2026): 15,000 shares at $10.99 Open-market buy (May 21, 2026): 15,000 shares at $11.14 +5 more

8 metrics

Open-market buy (May 15, 2026) 15,000 shares at $11.40 Class A Common Shares, indirect via Olympic Bahamas Limited

Open-market buy (May 20, 2026) 15,000 shares at $10.99 Class A Common Shares, indirect via Olympic Bahamas Limited

Open-market buy (May 21, 2026) 15,000 shares at $11.14 Class A Common Shares, indirect via Olympic Bahamas Limited

Total new shares bought 45,000 shares Aggregate of three indirect open-market purchases

Indirect holdings after trades 45,000 shares Class A Common Shares held via Olympic Bahamas Limited

Direct Class A holdings 425,724 shares Includes RSUs, matching units, and owned shares

Unvested restricted share units 71,340 units Part of Matarazzo’s direct equity-based compensation

Unvested matching share program units 69,675 units Issuer’s matching share program awards

Key Terms

weighted average price, restricted share units, matching share program, beneficially owned, +1 more

5 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficially owned financial

"Represents Class A Common Shares beneficially owned by Patria Holdings Limited..."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

indirect ownership financial

"Represents Class A Common Shares beneficially owned by Patria Holdings Limited, which were purchased and are directly held by Olympic Bahamas Limited..."

Form 4 Insider Transactions: What Each Field Means →

05/22/2026 - 09:05 PM

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^*

Neto Olimpio Matarazzo

(Last)

(First)

(Middle)

60 NEXUS WAY, 4TH FLOOR

(Street)

CAMANA BAY

GRAND CAYMAN

KY1-9006

(City)

(State)

(Zip)

CAYMAN ISLANDS

(Country)

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

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

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Shares	05/15/2026		P		15,000	A	$11.4⁽¹⁾	15,000	I	See Footnote⁽⁵⁾
Class A Common Shares	05/20/2026		P		15,000	A	$10.99⁽²⁾	30,000	I	See Footnote⁽⁵⁾
Class A Common Shares	05/21/2026		P		15,000	A	$11.14⁽³⁾	45,000	I	See Footnote⁽⁵⁾
Class A Common Shares								425,724⁽⁴⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These Class A Common Shares were purchased in multiple transactions at prices ranging from $11.32 to $11.44, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

2. The price reported in Column 4 is a weighted average price. These Class A Common Shares were purchased in multiple transactions at prices ranging from $10.84 to $11.09, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

3. The price reported in Column 4 is a weighted average price. These Class A Common Shares were purchased in multiple transactions at prices ranging from $11.08 to $11.16, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (3) to this Form 4.

4. Consists of 71,340 unvested restricted share units, 69,675 unvested share units pursuant to the Issuer's matching share program, and 284,709 Class A Common Shares owned by the Reporting Person.

5. Represents Class A Common Shares beneficially owned by Patria Holdings Limited, which were purchased and are directly held by Olympic Bahamas Limited, an entity owned and controlled by the Reporting Person.

	/s/ Olimpio Matarazzo Neto	05/22/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Patria Investments (PAX) report for Neto Olimpio Matarazzo?

Matarazzo reported three open-market purchases totaling 45,000 Class A shares. These were executed on May 15, 20, and 21, 2026 at prices around $11 per share, all held indirectly through Olympic Bahamas Limited.

At what prices did the Patria Investments (PAX) director buy Class A shares?

The purchases were at weighted average prices of $11.40, $10.99, and $11.14 per share. Each transaction covered 15,000 shares, executed on separate days in open-market trades.

How many Patria Investments (PAX) shares does Matarazzo hold after these transactions?

After the reported trades, Matarazzo indirectly holds 45,000 Class A shares via Olympic Bahamas Limited and directly holds 425,724 Class A shares, combining vested stock, unvested restricted share units, and matching share program units.

What portion of Matarazzo’s Patria Investments (PAX) holdings are unvested awards?

His direct position includes 71,340 unvested restricted share units and 69,675 unvested share units from the issuer’s matching share program. These represent share-based compensation that is scheduled to vest over time.

How are the newly purchased Patria Investments (PAX) shares held?

The 45,000 newly purchased Class A shares are beneficially owned by Patria Holdings Limited and are directly held by Olympic Bahamas Limited, an entity owned and controlled by Matarazzo, reflecting indirect ownership on his Form 4.