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DLOdLocal Ltd · Insider ownership research

dLocal Ltd insiders sold $16.2M since March 18, 2026. How much of their stake is that?

100% was sold under disclosed trading plans. The largest seller, Sebastian Kanovich (Director), sold $16.2M.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 16, 2026 from SEC filings · covers Mar 18, 2026 to Oct 16, 2026

Officers and directors of non-US companies only began filing Forms 3 and 4 on March 18, 2026 (a new SEC rule), so this page covers the period since then. Their 10% holders still do not file. The SEC rule

1
buyer among officers and directors (1 trade), since March 18, 2026
100%
of sales were under disclosed trading plans, since March 18, 2026
1 of 10
officers and directors sold shares, since March 18, 2026
Latest filing: Filed Aug 11 for a sale from Aug 4 to Aug 5. Sebastian Kanovich sold 77K shares ($1.2M) under a disclosed plan. Filing
SEC ownership filings: 23 filed from Mar 18, 2026 to Oct 16, 2026; 23 on record since Mar 18, 2026 · See the evidence

What stands out

William Pruett bought 20K shares for $237K, first on May 29, 2026. These are the first purchases by current officers or directors in the filings on record.Purchase, May 29, 2026

A share of stake is shown for 0 of the 1 officer or director who sold. 10 are left out

i
Left out: Bay Bzurovski, Sebastian Kanovich, Pedro Arnt, Carlos Menendez, Hyman Bielsky, Perez Lopez, Santos Vieira, Rodriguez Almeida, William Pruett and John O'Brien (share of stake is being verified).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, since March 18, 2026. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Sebastian Kanovich
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$16.2MDisclosed plan
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Mar 2026 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planOne dollar scale for every month; the tallest bar is labeled
MarAprMayJunJul 2026: $15.0M under a disclosed plan$15.0MJulAug 2026: $1.2M under a disclosed planAugSepOct

Recent activity

Past 30 days, Sep 17, 2026 to Oct 16, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Aug 5, 2026Sebastian Kanovich sold 73K shares ($1.1M) under a disclosed trading plan.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Sebastian Kanovich
Director
72,753$15.54n/an/aAug 5, 2026Aug 11, 2026

Common questions

Is the dLocal Ltd CEO selling stock?

No. Pedro Arnt reported no open-market sales since March 18, 2026.

Why are dLocal Ltd insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 100% of sales by value ran under 10b5-1 trading plans disclosed in the filings. A trading plan schedules sales in advance.

Are any dLocal Ltd insiders buying?

Yes. 1 officer or director reported 1 purchase since March 18, 2026 (Form 4 code P; rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust are not counted).

The evidence

Who sold1 officer or director: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Sebastian Kanovich
Director
$16.2M
1.10M shares
Not confirmed
share of stake is being verified. Why
Disclosed plan
The full ownership picture0 of 10 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Mar 17, 2026SoldHeld Oct 16, 2026Still held
Bay Bzurovski
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Bay Bzurovski are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Bay Bzurovski

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Bay Bzurovski are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Sebastian Kanovich
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Sebastian Kanovich are complete.
Director
n/a−1.10Mn/an/a
Vesting, gifts, unvested awards and holding lines for Sebastian Kanovich

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Sebastian Kanovich are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Pedro Arnt
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Pedro Arnt are complete.
Chief Executive Officer, Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Pedro Arnt

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Pedro Arnt are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Carlos Menendez
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Carlos Menendez are complete.
Chief Operating Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Carlos Menendez

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Carlos Menendez are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Hyman Bielsky
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Hyman Bielsky are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Hyman Bielsky

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Hyman Bielsky are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Perez Lopez
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Perez Lopez are complete.
Chief Financial Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Perez Lopez

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Perez Lopez are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Santos Vieira
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Santos Vieira are complete.
Chief Legal Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Santos Vieira

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Santos Vieira are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
320,000$8.92Jan 27, 2033$2.1M
12,000$8.92May 26, 2032$79K
10,000$7.44Jun 30, 2031$81K

Estimate: options held × ($15.54 − strike price), using the most recent insider trade price on Form 4 (Aug 5, 2026), not a market close.

Rodriguez Almeida
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Rodriguez Almeida are complete.
Chief Technology Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Rodriguez Almeida

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Rodriguez Almeida are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
180,000$8.92Jan 27, 2033$1.2M
101,250$8.92Aug 15, 2032$670K
55,256$8.92Mar 28, 2032$366K

Estimate: options held × ($15.54 − strike price), using the most recent insider trade price on Form 4 (Aug 5, 2026), not a market close.

William Pruett
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for William Pruett are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for William Pruett

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for William Pruett are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
John O'Brien
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. See the filing Sales and other transactions for John O'Brien are complete.
Chief Revenue Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for John O'Brien

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for John O'Brien are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
43,238$8.92May 1, 2032$286K
96,705$8.92Feb 27, 2033$640K

Estimate: options held × ($15.54 − strike price), using the most recent insider trade price on Form 4 (Aug 5, 2026), not a market close.

Holdings and share of stake for dLocal Ltd are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$16.2M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $16.2M across 1,103,153 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Purchases · 1 buyer (1 trade)

1 officer or director bought shares in this period, in 1 trade(Form 4 code P, leaving out rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust). Across all their filings on record there is 1 purchase trade.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Sebastian Kanovich
Director
1.10M$16.2M100%100%Jul 1, 2026 to Aug 5, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Mar 2026$0$0$0$0
Apr 2026$0$0$0$0
May 2026$0$0$0$0
Jun 2026$0$0$0$0
Jul 2026$15.0M$15.0M$0$0
Aug 2026$1.2M$1.2M$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Known gaps and uncertainty10 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for dLocal Ltd are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology23 filings on record, 23 filed since March 18, 2026, and how we read them

All 23 Forms 3, 4 and 5 on record for dLocal Ltd (SEC CIK 1846832), filed from Mar 18, 2026 to Aug 11, 2026; 23 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 16, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (4)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Veronica RaffoNo balance on record
Luiz RibeiroNo balance on record
Nelson MattosNo balance on record
de FernandezNo balance on record

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