Costa Santos Carreira Renato 4
4 · AXIA Energia S.A. · Filed Jun 29, 2026
Research Summary
AI-generated summary of this filing
AXIA Energia (AXIA3) EVP Renato Costa Santos Carreira Exercises Options
What Happened Renato Costa Santos Carreira, Executive Vice President of People and Services at AXIA Energia S.A., exercised stock options on 2026-06-26 to acquire 42,905 ordinary shares. The reported exercise price for this transaction was R$54.18 per share, resulting in an aggregate cash payment of R$2,324,593. The filing also shows the underlying derivative instruments were terminated (reported as disposed at $0.00), consistent with options being converted into shares.
Key Details
- Transaction date: 2026-06-26; Form 4 filed 2026-06-29 (appears timely).
- Acquired: 42,905 shares via option exercise at R$54.18/share; total R$2,324,593.
- Disposed: 42,905 derivative instruments reported at $0.00 (reflects conversion/termination of the options).
- Shares owned after the transaction: Not specified in the provided filing details.
- Notable footnotes:
- F1: Exercise price of R$54.18/share accrues interest at 5% p.a. from grant to exercise.
- F2–F3: Options were issued under a restricted share-based compensation program and vest over a multi-year schedule (1/3 at year 3, remainder in years 4 and 5), subject to performance and other conditions.
- F4: Vested options must be exercised within 120 days after maturity; exercised shares are subject to a 180-calendar-day lock-up restricting sale/transfer.
- F5: A separate footnote references an R$42.00 exercise price (with similar 5% interest), indicating different award tranches may have different strike prices.
Context
- Code M transactions = exercise or conversion of derivatives (stock options). The paired acquisition and $0.00 disposition lines indicate options were converted into shares rather than a sale of shares.
- This was an acquisition (insider acquiring shares via exercising options) rather than an open-market sale; exercised shares are subject to a 180-day lock-up, so they cannot be sold immediately.
- The exercise was funded by the reporting person (cash exercise) as reflected by the exercise payment; there is no indication in the provided data of a simultaneous cashless sale.
Insider Transaction Report
Form 4
AXIA Energia S.A.AXIA3
Costa Santos Carreira Renato
See Remarks*
Transactions
- Exercise/Conversion
Common Shares
[F1]2026-06-26$54.18/sh+42,905$2,324,593→ 42,905 total - Exercise/Conversion
Stock Options
[F2][F1][F3][F4]2026-06-26−42,905→ 542,547 totalExercise: $54.18→ Common Shares (42,905 underlying)
Holdings
- 203,364
Stock Options
[F2][F5][F3][F4]Exercise: $42.00→ Common Shares (203,364 underlying)
Footnotes (5)
- [F1]The exercise price is R$54.18 per share accrues interest at a rate of 5% per annum from grant date to exercise date and is subject to certain other adjustments.
- [F2]The stock options were issued pursuant to AXIA Energia S.A.'s restricted share based compensation program. Exercise is conditioned up the achievement of certain performance goals, as set forth in the award agreement, and the satisfaction of certain other conditions.
- [F3]1/3 of the stock options vest 3 years from grant date, with the remaining vesting on the 4th and 5th anniversaries from grant date, subject to certain conditions, as set forth in the award agreement.
- [F4]The reporting person must exercise vested options within 120 days after each respective maturity period, failing which the options lapse. Upon exercise, the reporting person is subject to a lock-up period of 180 calendar days during which the shares may not be sold, transferred, or encumbered.
- [F5]The exercise price is R$42.00 per share accrues interest at a rate of 5% per annum from grant date to exercise date and is subject to certain other adjustments.
Signature
/s/ Renato Costa Santos Carreira|2026-06-29