Fadda Luca 4

What Happened Luca Fadda, Chief Audit Executive of TIM S.A. (TIMB), was awarded a total of 41,938 shares on May 5, 2026 via three grant/acquisition entries: 32,290 shares (performance shares), 7,655 shares (performance shares), and 1,993 restricted/derivative shares. All were reported at $0 per share (awards/earned shares), so no cash changed hands in the filing. These awards resulted from the Board’s certification of achieved performance for prior grants and include accrued dividend equivalent units.

Key Details

• Transaction date: May 5, 2026; Form 4 filed May 7, 2026 (appears timely).
• Reported price: $0.00 for each award (typical for earned performance/restricted shares).
• Total shares reported: 41,938 (32,290 + 7,655 + 1,993).
• Shares owned after transaction: Not specified in the filing.
• Footnotes:
  • F1: 32,290 = performance shares earned from 2023 grant; vest 20% / 30% / 50% on the 1st–3rd anniversaries, subject to continued service.
  • F2: 7,655 = performance shares earned from 2024 grant; vest 10% / 20% / 70% on the 1st–3rd anniversaries, subject to continued service.
  • F3: Each restricted share is a contingent right to one common share less withholding taxes.
  • F4: Dividend equivalent units were accrued and approved by the Board on May 5, 2026.
  • F5: The restricted shares vest on July 31, 2026.

Context These transactions are compensatory awards tied to performance certifications and standard vesting schedules, not open-market purchases or sales. Such awards are routine components of executive pay and are contingent on future vesting and continued service, so they do not necessarily indicate immediate buying or selling intent. The derivative/restricted units will convert to shares (net of withholding) upon vesting per the noted schedules.