Suzano EVP logs cash-settled phantom share changes

Suzano S.A. executive Lazaretti Douglas Seibert reported routine compensation-related changes in cash-settled phantom shares.

Rhea-AI Filing Summary

Suzano S.A. executive Lazaretti Douglas Seibert reported routine compensation-related changes in cash-settled phantom shares. On March 30, 2026, two blocks of phantom shares were disposed of to the issuer as they vested and were settled in cash based on Suzano’s common share price, in line with the applicable plan terms.

On the same date, Seibert received a new grant of cash-settled phantom shares that will vest on March 1, 2029, with each phantom share’s value referenced to one Suzano common share and payable in cash at vesting. These movements do not reflect open‑market buying or selling of Suzano stock, but rather the vesting, cash settlement, and renewal of a long‑term incentive award.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Lazaretti Douglas Seibert

Role Executive VP of Forestry

Type	Security	Shares	Price	Value
Disposition	Phantom Shares	2,742	$0.00	$0.00
Disposition	Phantom Shares	9,141	$0.00	$0.00
Grant/Award	Phantom Shares	9,497	$0.00	$0.00

Holdings After Transaction: Phantom Shares — 31,139 contracts (Direct)

Footnotes (4)

1. F1. 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. 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 03/01/2023 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. F4. 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.

Key Figures

Phantom shares disposed (block 1): 2,742 phantom shares Phantom shares disposed (block 2): 9,141 phantom shares New phantom shares granted: 9,497 phantom shares +4 more

7 metrics

Phantom shares disposed (block 1) 2,742 phantom shares Disposition to issuer on March 30, 2026 upon vesting

Phantom shares disposed (block 2) 9,141 phantom shares Disposition to issuer on March 30, 2026 upon vesting

New phantom shares granted 9,497 phantom shares Grant on March 30, 2026, vesting March 1, 2029

Holdings after first disposition 30,783 phantom shares Total phantom shares following initial 2,742-share disposition

Holdings after second disposition 21,642 phantom shares Total phantom shares following 9,141-share disposition

Holdings after new grant 31,139 phantom shares Total phantom shares following 9,497-share grant

Derivative transactions reported 3 transactions Two dispositions and one grant in phantom shares

Key Terms

Phantom Shares, Cash settled phantom shares, vesting, Disposition to issuer, +1 more

5 terms

Phantom Shares financial

"Cash settled phantom shares granted on 03/01/2022 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 phantom shares financial

"Cash settled phantom shares granted on 03/30/2026 and vesting on 03/01/2029, subject to certain conditions."

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.

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer""

Grant, award, or other acquisition financial

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

FAQ

What did Suzano (SUZ) executive Lazaretti Douglas Seibert report in this Form 4?

He reported vesting and cash settlement of existing phantom shares plus a new phantom share grant. These are compensation-related entries, not open-market trades, and are settled in cash based on Suzano’s common share price at vesting.

Were any Suzano (SUZ) common shares bought or sold on the market in this Form 4?

No, the filing concerns cash-settled phantom shares only. Dispositions were to the issuer upon vesting and were settled in cash, with values referenced to Suzano common shares, rather than market purchases or sales of actual stock.

How many Suzano (SUZ) phantom shares were disposed of by Executive VP of Forestry Seibert?

He disposed of 2,742 phantom shares and 9,141 phantom shares, both coded as dispositions to the issuer. These phantom shares vested and were settled in cash according to the terms of Suzano’s long-term incentive plan.

What new phantom share award did Suzano (SUZ) grant to Lazaretti Douglas Seibert?

He received 9,497 cash-settled phantom shares on March 30, 2026. These are scheduled to vest on March 1, 2029, subject to plan conditions, with each phantom share’s value referenced to one Suzano common share and paid in cash.

How do Suzano (SUZ) phantom shares work for executives like Seibert?

They are cash-settled awards whose value tracks one Suzano common share. Upon vesting, they are settled in cash based on the market price of Suzano’s common shares, instead of delivering actual stock to the executive.

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

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Accepted by SEC EDGAR 03/31/2026 - 07:24 PM 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
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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^*

Lazaretti Douglas Seibert

(Last) (First) (Middle)

AV. BRIG. FARIA LIMA, 1355

9 FLOOR

(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)
	Executive VP of Forestry

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			2,742	(1)	(1)	Common shares	0	(2)	30,783	D
Phantom Shares	(3)	03/30/2026		D			9,141	(3)	(3)	Common shares	0	(2)	21,642	D
Phantom Shares	(4)	03/30/2026		A		9,497		(4)	(4)	Common shares	0	(2)	31,139	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.

Remarks:

	/s/ Victor Conde Valladares Camina as attorney-in-fact for Douglas Seibert Lazaretti	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.
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* Form 4: SEC 1474 (03-26)