📝 What This Document Is

This is an amended ownership report (Form 3/A) filed with the SEC. It's a correction to an earlier filing. Think of it as a "oops, we forgot to include something" update to ensure the official record is complete and transparent. 👉 The key takeaway is that an executive is now reporting additional company shares they hold.

🏢 What The Company Does

AMBEV S.A. is a massive beverage company. In simple terms, they are one of the largest brewers in the world, with a dominant presence in Latin America (especially Brazil and Canada). They produce and sell beer, soft drinks, and other non-alcoholic beverages under many well-known brands. For an investor, understanding AMBEV means understanding the consumer staples market in emerging economies.

🤝 The Executive & The Correction

The filing is about Guilherme Fleury de Figueiredo Ferraz Parolari. He is the company's Chief Financial, Investor Relations And Shared Services Officer. This amendment adds 78,433 restricted shares that were accidentally left out of his original ownership report filed on March 18, 2026. 👉 It's a procedural fix to ensure accurate disclosure of his holdings.

📦 The Restricted Shares

These aren't regular shares he bought on the open market. They are "Restricted Shares," a form of equity compensation.

• What they are: Each restricted share represents a right to receive one common share of AMBEV in the future.
• The Catch: They come with strings attached. Specifically, they are subject to withholding taxes upon conversion.
• Vesting Date: These shares don't belong to him outright yet. They vest on February 16, 2029. That's the date he gains full control.
• 👉 Think of it like a retention tool: the company is giving him a stake in its future performance, but he has to stay with the company until 2029 to fully "earn" it.

💼 Why This Amendment Matters

While a small administrative correction, it serves an important purpose. Accurate insider ownership filings are crucial for market transparency. They allow investors to see:

1. Alignment: That executives have "skin in the game," which aligns their interests with shareholders.
2. Compensation Clarity: It reveals part of how top executives are paid—with long-term incentives tied to the company's stock performance.
3. Regulatory Compliance: It shows the company and its officers are correcting errors and adhering to SEC rules.

🔮 What's Next & The Signal

For Mr. Parolari, the next milestone is February 16, 2029, when these shares vest. For investors, this filing signals ongoing commitment to proper governance. It also reinforces that executive compensation at major companies is heavily structured around long-term incentives, not just cash salaries.

⚖️ Big Picture — Strengths & Risks

• 👍 Strength: The filing demonstrates transparent correction, which builds trust. The use of long-term restricted stock aligns the CFO's incentives with growing shareholder value over multiple years.
• ⚠️ Risk: The primary risk here is minimal and administrative—the risk of inaccurate records. The larger business risks for AMBEV lie in currency fluctuations in Brazil, competition, and changing consumer tastes, not in this ownership filing.

🧠 The Analogy

Filing this Form 3/A is like submitting a corrected team roster to the league office after a game. The coach (the company) realizes they accidentally left a player (the restricted shares) off the initial list. They fix it to keep the official record accurate, ensuring everyone knows which players are on the team and when their contracts become fully guaranteed (vest).

📇 Key Contacts & People

• Reporting Owner: Guilherme Fleury de Figueiredo Ferraz Parolari
• Title: Chief Financial, Investor Relations And Shared Services Officer
• Address: RUA DR. RENATO PAES DE BARROS, 1017, 4TH FLOOR, SAO PAULO, BRAZIL, 04530-001
• Signature: /s/ Guilherme Fleury de Figueiredo Ferraz Parolari (signed April 1, 2026)

🧩 Final Takeaway

This is a routine but important correction that gives us a window into executive compensation at AMBEV. It shows the CFO is receiving a substantial grant of over 78,000 shares that will fully belong to him in 2029, tying his financial future directly to the company's stock performance.