Suzano VP granted 37,743 cash phantom shares

Grimaldi Leonardo Barreto de Araujo reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Grimaldi Leonardo Barreto de Araujo reported acquisition or exercise transactions in this Form 4 filing.

Suzano S.A. reported that executive Grimaldi Leonardo Barreto de Araujo, VP of Pulp Commercial and Logistics, received a grant of 37,743 cash-settled phantom shares on May 27, 2026. These phantom shares reference Suzano common shares, vest on April 1, 2029 subject to conditions, and are settled in cash upon vesting, bringing his reported phantom share balance to 87,760. This is a compensation-related award, not an open-market share purchase or sale.

Insider Trade Summary

Grant/Award: 37,743 shares

Grant/Award 1 txn

Insider Grimaldi Leonardo Barreto de Araujo

Role VP of Pulp Commercial and Log.

Type	Security	Shares	Price	Value
Grant/Award	Phantom Shares	37,743	$0.00	$0.00

Holdings After Transaction: Phantom Shares — 87,760 contracts (Direct)

Footnotes (2)

1. F1. Cash settled phantom shares granted on 05/27/2026 and vesting on 04/01/2029, 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.
2. F2. 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 granted: 37,743 phantom shares Total phantom shares after grant: 87,760 phantom shares Vesting date: April 1, 2029 +2 more

5 metrics

Phantom shares granted 37,743 phantom shares Grant on May 27, 2026

Total phantom shares after grant 87,760 phantom shares Holding after reported transaction

Vesting date April 1, 2029 Phantom shares vesting date, subject to conditions

Transaction price per phantom share $0.00 Grant price for phantom shares

Underlying security 37,743 common shares (reference only) Number of common shares referenced by phantom shares

Key Terms

Phantom Shares, cash settled phantom shares, vesting, applicable plan, +1 more

5 terms

Phantom Shares financial

"Phantom Shares granted on 05/27/2026 and vesting on 04/01/2029, 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 05/27/2026 and vesting on 04/01/2029, subject to certain conditions."

vesting financial

"granted on 05/27/2026 and vesting on 04/01/2029, 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.

applicable plan financial

"subject to the terms of the applicable plan."

market price financial

"The value of the phantom shares is tied to the market price of the issuer s common shares"

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.

FAQ

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

What did Suzano (SUZ) disclose in this Form 4 for Grimaldi Leonardo Barreto de Araujo?

Suzano disclosed that VP Grimaldi Leonardo Barreto de Araujo received a grant of 37,743 cash-settled phantom shares. These instruments reference Suzano common shares, vest in 2029, and increase his reported phantom share holdings to 87,760 units under the company’s compensation plan.

How many phantom shares were granted to the Suzano (SUZ) executive and what is his new total?

The executive received 37,743 phantom shares, bringing his reported phantom share balance to 87,760. These awards are part of a compensation arrangement, reference the price of Suzano common shares, and will be settled in cash if and when vesting conditions are met.

When do the newly granted Suzano (SUZ) phantom shares vest?

The phantom shares granted on May 27, 2026 vest on April 1, 2029, subject to certain conditions. Upon vesting, their value is determined by the market price of Suzano common shares, and they are settled in cash according to the applicable compensation plan terms.

Are the Suzano (SUZ) phantom shares in this Form 4 settled in stock or cash?

The phantom shares are settled in cash upon vesting rather than in actual Suzano shares. Their value is tied to the market price of Suzano’s common shares, as described in the plan, but no open-market share purchase or sale occurs through this grant.

Does this Suzano (SUZ) Form 4 show an insider buying or selling shares on the market?

The Form 4 does not show an open-market buy or sell. It records a compensation-related grant of cash-settled phantom shares to a Suzano executive, whose value references the company’s common shares and will be paid in cash if vesting conditions are satisfied.

Who is the Suzano (SUZ) insider involved in this phantom share grant?

The reporting person is Grimaldi Leonardo Barreto de Araujo, Suzano’s Vice President of Pulp Commercial and Logistics. He received 37,743 cash-settled phantom shares, increasing his reported phantom share holdings to 87,760 units under Suzano’s compensation plan.

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

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Accepted by SEC EDGAR 05/28/2026 - 05:09 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^*

Grimaldi Leonardo Barreto de Araujo

(Last) (First) (Middle)

AV BRIG 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 Pulp Commercial and Log.

2a. Foreign Trading Symbol
[SUZB3]

3. Date of Earliest Transaction (Month/Day/Year)
05/27/2026

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)	05/27/2026		A		37,743		(1)	(1)	Common shares	37,743	(2)	87,760	D

Explanation of Responses:

1. Cash settled phantom shares granted on 05/27/2026 and vesting on 04/01/2029, 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.

2. 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 Leonardo Barreto de Araujo Grimaldi	05/28/2026
	** 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)