de Meirelles Wolff Elio Gil 4

What Happened Elio Gil, Executive Vice‑President of Strategy and Business Development at BRAZILIAN ELECTRIC POWER CO (AXIA3), had 2,068 shares withheld by the company on March 30, 2026 to satisfy tax withholding obligations related to RSU vesting. The filing records this as a tax-withholding disposal (code F); no per-share price or cash value is reported (N/A). The shares relate to restricted stock units (RSUs) that vest 1:1 into common shares.

Key Details

• Transaction date: March 30, 2026; Form 4 filed April 1, 2026 (timely filing).
• Transaction type/code: F — shares withheld to cover withholding taxes (not an open-market sale).
• Shares withheld/disposed: 2,068 shares; price and total dollar value: N/A.
• Shares owned after transaction: not explicitly stated on the filing; footnote F3 indicates the reported ownership figure would represent the sum of (i) RSUs vested net of tax withholding, (ii) unvested RSUs, and (iii) common shares held by the officer.
• Footnotes of note:
  • F1: Shares withheld by the company to satisfy withholding taxes tied to the vesting of 50% of the RSUs.
  • F2: Each RSU converts 1:1 to a common share and was issued under the company’s restricted-share compensation program for executive officers.
  • F3: Explains how the post-transaction ownership number is composed.

Context This was an internal tax-withholding action tied to RSU vesting — common and administrative. It is not an open-market sale or purchase and therefore does not directly signal the insider’s market view. For retail investors, purchases are generally more informative than withholding transactions; this filing simply documents compensation-related tax withholding.