FERREIRA SANTOS WELDER 4

What Happened

• FERREIRA SANTOS WELDER, a controller at Afya Ltd (AFYA), converted restricted stock units (RSUs) into a total of 5,739 common shares on May 7, 2026. To satisfy tax withholding, 1,578 shares were surrendered/withheld at $14.41 per share, generating $22,739. The conversion was reported as derivative exercises (code M); two conversion lines reflect 500 and 5,239 shares (reported with $0.00 proceeds for the conversion portion).

Key Details

• Transaction date: May 7, 2026. Form filed: May 11, 2026 (may be outside the typical 2-business-day Form 4 window).
• Converted/issued shares: 5,739 total (500 and 5,239 reported in derivative conversion lines).
• Shares withheld for taxes: 1,578 at $14.41 each = $22,739 (transaction code F for tax withholding).
• Reported as derivative exercises/conversions (M) and tax withholding (F). Two conversion lines show $0.00 proceeds, reflecting settlement/conversion rather than a cash sale.
• Shares owned after the reported transactions: not specified in the provided data.
• Footnotes: RSUs convert 1-for-1 into common shares (F1). One RSU grant vested 500 shares on May 5, 2026 with remaining tranches vesting in 2027–2029 subject to service (F2). Another RSU grant fully vested on May 5, 2026 (F3).

Context

• This is a compensation-related conversion (RSUs settling into shares) rather than an open-market purchase or discretionary sale. The withholding of 1,578 shares to cover taxes is a routine administrative step and does not necessarily signal a buy or sell decision by the insider. The conversions were reported as derivative exercises; some conversion lines report $0 proceeds because no cash sale of those shares occurred at conversion.