DEL BIANCO DENIS 4
4 · Afya Ltd · Filed May 11, 2026
Research Summary
AI-generated summary of this filing
Afya VP Denis Del Bianco Receives RSUs; Sells 6,023 Shares for Taxes
What Happened
Denis Del Bianco, Vice President of Afya Ltd (AFYA), had RSUs convert into 21,900 common shares on May 7, 2026. To cover tax withholding, 6,023 of those shares were sold at $14.41 each, generating $86,791. The remaining 21,900 − 6,023 = 15,877 shares were retained by the reporting person.
Key Details
- Transaction date: May 7, 2026; Form 4 filed May 11, 2026 (timely — filed within two business days).
- Conversion: 21,900 shares acquired via RSU conversion (derivative conversion, code M); acquisition price N/A (RSUs convert 1-for-1).
- Tax withholding sale: 6,023 shares disposed at $14.41/share for $86,791 (code F).
- Net shares retained after withholding: 15,877 shares.
- Footnotes: F1 — RSUs convert one-for-one; F2 — one RSU grant vests partly (3,500 vested May 5, 2026; remaining tranches 7,000 / 10,500 / 14,000 vest May 1 of 2027–2029 subject to service); F3 — another RSU grant fully vested on May 5, 2026.
- No indication of a 10b5-1 plan or a gift; the sale was to satisfy tax withholding obligations, a routine administrative action.
Context
This was not a market-driven sale: the transaction reflects RSU vesting and routine tax withholding (cashless/net share settlement), not a discretionary open-market sale. For retail investors, purchases (cash outflows to buy shares) typically signal more direct insider bullishness; here the insider received equity via vesting and only sold shares to meet tax obligations.
Insider Transaction Report
- Exercise/Conversion
Class A Common Share
[F1]2026-05-07+21,900→ 31,445 total - Tax Payment
Class A Common Share
2026-05-07$14.41/sh−6,023$86,791→ 25,422 total - Exercise/Conversion
Restricted Stock Unit
[F1][F2]2026-05-07−3,500→ 31,500 total→ Class A Common Share (3,500 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1][F3]2026-05-07−3,200→ 0 total→ Class A Common Share (3,200 underlying) - Exercise/Conversion
Restricted Stock Unit
[F1][F3]2026-05-07−15,200→ 0 total→ Class A Common Share (15,200 underlying)
Footnotes (3)
- [F1]Restricted stock units (the "RSUs") convert into common shares on a one-for-one basis.
- [F2]The RSUs have no expiration date and vested as to 3,500 shares on May 5, 2026. The remaining RSUs will vest as to 7,000, 10,500 and 14,000 shares on the first day of May in 2027, 2028 and 2029, respectively, subject to the Reporting Person's continued service through the applicable vesting dates.
- [F3]The RSUs have no expiration date and fully vested on May 5, 2026.