Suzano VP updates phantom share holdings

Suzano S.A.’s VP of Finance and IR, Marcos Moreno Chagas Assumpcao, reported cash-settled phantom share activity.

Rhea-AI Filing Summary

Suzano S.A.’s VP of Finance and IR, Marcos Moreno Chagas Assumpcao, reported cash-settled phantom share activity. On 03/30/2026, 9,304 phantom shares granted on 03/01/2023 vested and were disposed to the issuer, with value settled in cash based on the market price of Suzano common shares under the applicable plan.

On the same date, he received a new grant of 9,497 cash-settled phantom shares, vesting on 03/01/2029, whose value is tied to one Suzano common share and will be settled in cash upon vesting. Following these transactions, he holds 56,412 phantom shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Assumpcao Marcos Moreno Chagas

Role VP of Finance and IR

Type	Security	Shares	Price	Value
Disposition	Phantom Shares	9,304	$0.00	$0.00
Grant/Award	Phantom Shares	9,497	$0.00	$0.00

Holdings After Transaction: Phantom Shares — 56,412 contracts (Direct)

Footnotes (4)

1. F1. Cash settled phantom shares granted on 03/01/ 2023 and vesting on 03/30/2026, subject to certain conditions. The price of each phantom share is referenced to one Suzano common share. Phantom shares are settled in cash upon vesting.
2. F2. The phantom shares vested and were settled in cash based on the market price of the issuer s common shares in accordance with the terms of the applicable plan.
3. F3. Cash settled phantom shares granted on 03/30/2026 and vesting on 03/01/2029, subject to certain conditions. The price of each phantom share is referenced to one Suzano common share. Phantom shares are settled in cash upon vesting.
4. F4. The value of the phantom shares is tied to the market price of the issuer s common shares and will be settled in cash upon vesting, subject to the terms of the applicable plan.

Key Figures

Phantom shares disposed to issuer: 9,304 phantom shares New phantom share grant: 9,497 phantom shares Phantom shares held after transactions: 56,412 phantom shares +3 more

6 metrics

Phantom shares disposed to issuer 9,304 phantom shares Vested and settled in cash on 03/30/2026 from 03/01/2023 grant

New phantom share grant 9,497 phantom shares Granted on 03/30/2026, vesting on 03/01/2029

Phantom shares held after transactions 56,412 phantom shares Total holdings following 03/30/2026 Form 4 transactions

Post-disposition holdings before new grant 46,915 phantom shares Holdings after disposition of 9,304 phantom shares on 03/30/2026

First grant date 03/01/2023 Cash-settled phantom shares that vested on 03/30/2026

Second grant vesting date 03/01/2029 Vesting date for phantom shares granted on 03/30/2026

Key Terms

Phantom Shares, cash settled, vesting, market price, +1 more

5 terms

Phantom Shares financial

"Cash settled phantom shares granted on 03/01/ 2023 and vesting on 03/30/2026, subject to certain conditions."

Phantom shares are a form of employee or executive compensation that mimics the economic value of owning company stock without actually issuing real shares; holders receive cash or equivalent payments tied to the company’s share price or dividends. Think of it like a receipt that pays out if the stock rises — it aligns managers’ interests with shareholders but does not dilute ownership, while creating a future cash obligation that investors should watch as it can affect company cash flow and valuation.

cash settled financial

"Cash settled phantom shares granted on 03/01/ 2023 and vesting on 03/30/2026, subject to certain conditions."

A contract described as cash settled is one where, at the end, one party pays the monetary difference in value rather than delivering the actual underlying asset. For investors this matters because it simplifies transactions (like settling a bet by paying the win amount instead of handing over a physical item), affects liquidity and timing of cash flows, and changes exposure to storage, delivery logistics and certain tax or counterparty considerations.

vesting financial

"Cash settled phantom shares granted on 03/01/ 2023 and vesting on 03/30/2026, subject to certain conditions."

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

market price financial

"The phantom shares vested and were settled in cash based on the market price of the issuer s common shares in accordance with the terms of the applicable plan."

Market price is the current amount buyers are willing to pay and sellers are willing to accept for a share or other security at a given moment, like the tag on an item in a busy shop that changes with demand. It matters to investors because it determines what you would receive when selling or what you must pay to buy now, reflecting supply, demand and recent news that affect perceived value.

applicable plan financial

"The phantom shares vested and were settled in cash based on the market price of the issuer s common shares in accordance with the terms of the applicable plan."

FAQ

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

What did Suzano (SUZ) VP Marcos Assumpcao report in this Form 4?

He reported a vesting and settlement of 9,304 cash-settled phantom shares and a new grant of 9,497 phantom shares. Both awards reference Suzano common share prices and are settled in cash under the company’s compensation plan.

How many phantom shares does the Suzano VP hold after these transactions?

After the reported transactions, the Suzano VP of Finance and IR holds 56,412 phantom shares. This total reflects both the 9,304 phantom shares disposed to the issuer upon vesting and the new 9,497 phantom shares granted on 03/30/2026.

What are Suzano (SUZ) cash-settled phantom shares mentioned in the filing?

They are compensation instruments whose value is tied to the market price of one Suzano common share and are settled in cash upon vesting. They do not involve actual share delivery, but track the share price for determining the cash payout.

When do the Suzano VP’s phantom share grants vest according to the Form 4?

One grant of phantom shares was granted on 03/01/2023 and vested on 03/30/2026, triggering cash settlement. A new grant made on 03/30/2026 is scheduled to vest on 03/01/2029, subject to the conditions of the applicable plan.

Did the Suzano VP buy or sell common shares in this Form 4 filing?

No, the transactions involve cash-settled phantom shares, not direct purchases or sales of common shares. One award vested and was settled in cash, and another phantom share grant was awarded as part of the company’s compensation program.

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

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Accepted by SEC EDGAR 03/31/2026 - 07:32 PM EDT 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^*

Assumpcao Marcos Moreno Chagas

(Last) (First) (Middle)

AV BRIGADEIRO FARIA LIMA 1355

(Street)

SAO PAULO 01452-002

(City) (State) (Zip)

BRAZIL

(Country)

2. Issuer Name and Ticker or Trading Symbol
Suzano S.A. [ SUZ ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP of Finance and IR

2a. Foreign Trading Symbol
[SUZB3]

3. Date of Earliest Transaction (Month/Day/Year)
03/30/2026

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

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
Phantom Shares	(1)	03/30/2026		D			9,304	(1)	(1)	Common shares	0	(2)	46,915	D
Phantom Shares	(3)	03/30/2026		A		9,497		(3)	(3)	Common shares	0	(4)	56,412	D

Explanation of Responses:

1. Cash settled phantom shares granted on 03/01/ 2023 and vesting on 03/30/2026, subject to certain conditions. The price of each phantom share is referenced to one Suzano common share. Phantom shares are settled in cash upon vesting.

2. The phantom shares vested and were settled in cash based on the market price of the issuer s common shares in accordance with the terms of the applicable plan.

3. Cash settled phantom shares granted on 03/30/2026 and vesting on 03/01/2029, subject to certain conditions. The price of each phantom share is referenced to one Suzano common share. Phantom shares are settled in cash upon vesting.

4. The value of the phantom shares is tied to the market price of the issuer s common shares and will be settled in cash upon vesting, subject to the terms of the applicable plan.

Remarks:

	/s/ Victor Conde Valladares Camina as attorney-in-fact for Marcos Moreno Chagas Assumpcao	03/31/2026
	** 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)