Suzano (SUZ) VP settles and receives new phantom share awards

Rhea-AI Filing Summary

Suzano S.A. executive Fabio Almeida de Oliveira, VP of Paper and Packaging, reported compensation-related changes in cash-settled phantom shares. On March 30, 2026, he disposed of 4,231 and 13,962 phantom shares back to the issuer upon vesting of prior awards granted in 2022 and 2023, which were settled in cash based on the market price of Suzano common shares. On the same date, he received a new grant of 13,336 cash-settled phantom shares vesting on March 1, 2029. Following these transactions, he directly holds 40,401 phantom shares whose value is tied to Suzano’s common share price and will be settled in cash upon vesting.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Oliveira Fabio Almeida de

Role VP of Paper and Packaging

Type	Security	Shares	Price	Value
Disposition	Phantom Shares	4,231	$0.00	--
Disposition	Phantom Shares	13,962	$0.00	--
Grant/Award	Phantom Shares	13,336	$0.00	--

Holdings After Transaction: Phantom Shares — 41,027 shares (Direct)

Footnotes (1)

1. Cash settled phantom shares granted on 03/01/2022 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. 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. 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. 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. 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 (lot 1): 4,231 phantom shares Phantom shares disposed (lot 2): 13,962 phantom shares New phantom shares granted: 13,336 phantom shares +3 more

6 metrics

Phantom shares disposed (lot 1) 4,231 phantom shares Disposition to issuer on March 30, 2026

Phantom shares disposed (lot 2) 13,962 phantom shares Disposition to issuer on March 30, 2026

New phantom shares granted 13,336 phantom shares Grant on March 30, 2026 vesting March 1, 2029

Holdings after new grant 40,401 phantom shares Direct phantom share position after March 30, 2026 transactions

Post-transaction balance after first disposition 41,027 phantom shares Balance following 4,231 phantom share disposition

Post-transaction balance after second disposition 27,065 phantom shares Balance following 13,962 phantom share disposition

Key Terms

Phantom Shares, cash settled phantom shares, Disposition to issuer, Grant, award, or other acquisition, +1 more

5 terms

Phantom Shares financial

"security_title: "Phantom Shares" and value tied to common shares"

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 phantom shares financial

"Cash settled phantom shares granted on 03/01/2022 and vesting on 03/30/2026"

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer""

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

market price of the issuer s common shares financial

"settled in cash based on the market price of the issuer s common shares"

Form 4 Insider Transactions: What Each Field Means →

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^*

Oliveira Fabio Almeida de

(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 Paper and Packaging

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			4,231	(1)	(1)	Common shares	0	(2)	41,027	D
Phantom Shares	(3)	03/30/2026		D			13,962	(3)	(3)	Common shares	0	(2)	27,065	D
Phantom Shares	(4)	03/30/2026		A		13,336		(4)	(4)	Common shares	0	(5)	40,401	D

Explanation of Responses:

1. Cash settled phantom shares granted on 03/01/2022 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 03/01/2023 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.

4. 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.

5. 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 Fabio Almeida de Oliveira	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)

FAQ

What insider transactions did Suzano (SUZ) VP Fabio Almeida de Oliveira report?

He reported issuer-related adjustments in phantom share awards. On March 30, 2026, prior cash-settled phantom shares vested and were disposed of to the issuer, and he received a new grant of 13,336 phantom shares that will vest on March 1, 2029 in cash.

How many Suzano (SUZ) phantom shares did the VP dispose of and why?

He disposed of 4,231 and 13,962 phantom shares to the issuer. These awards, granted in 2022 and 2023, vested on March 30, 2026 and were settled in cash based on the market price of Suzano’s common shares, consistent with the applicable compensation plan.

What new phantom share award did the Suzano (SUZ) VP receive?

He received a grant of 13,336 cash-settled phantom shares on March 30, 2026. These phantom shares vest on March 1, 2029, are referenced to the price of one Suzano common share each, and will be settled entirely in cash at vesting under the plan.

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

After the reported transactions, he holds 40,401 phantom shares directly. These are derivative compensation instruments whose value is tied to Suzano’s common share price and are designed to be settled in cash when they vest, subject to plan conditions.

Are these Suzano (SUZ) phantom share transactions open-market stock trades?

No, they involve cash-settled phantom shares, not open-market stock trades. The awards are referenced to Suzano’s common share price, vest on specified dates, and are settled in cash with the issuer rather than through direct purchases or sales of common shares.

How is the value of Suzano (SUZ) phantom shares determined for the VP’s awards?

Each phantom share’s value is tied to the market price of one Suzano common share. When the awards vest, they are settled in cash according to the applicable plan terms, using the prevailing market price of Suzano’s common shares at the settlement time.