Varejao Godoy Antonio 4
4 · AXIA Energia S.A. · Filed Jun 29, 2026
Research Summary
AI-generated summary of this filing
AXIA Energia (AXIA3) Exec VP Varejao Exercises Options Worth $2.57M
What Happened
Varejao Godoy Antonio, Executive Vice President of Operations and Security at AXIA Energia S.A. (AXIA3), exercised stock options on 2026-06-26. He acquired 47,421 shares at an exercise price reported as $54.18 per share, for a total reported acquisition value of $2,569,270. The Form 4 also shows a corresponding disposition entry of 47,421 units at $0 reflecting conversion/termination of the derivative (the option) rather than a sale of shares—i.e., options were converted into common shares, not sold on the market.
Key Details
- Transaction date: 2026-06-26; Form 4 filed: 2026-06-29.
- Acquired: 47,421 shares at reported price $54.18/share; total reported value $2,569,270.
- Disposition line (47,421 @ $0) reflects conversion of the derivative (option) into shares, not a market sale.
- Footnotes: exercise price is R$54.18 per share and accrues interest at 5% p.a. from grant to exercise (F1); options granted under AXIA’s restricted share‑based compensation plan and are subject to performance conditions (F2). Vesting schedule: 1/3 at year 3, remainder at years 4 and 5 (F3). Options must be exercised within 120 days after each maturity period and are subject to a 180-day lock-up after exercise (F4).
- Shares owned after the transaction were not specified in the provided data.
Context
This was an option exercise (transaction code M) converting vested derivative awards into common stock, not a sale. Exercises are often part of compensation realization and do not by themselves indicate an insider buying more stock on the open market; however, they do increase the insider’s shareholding. Note the shares may be subject to a 180-day lock-up after exercise and the original awards were conditional on performance and vesting requirements.
Insider Transaction Report
- Exercise/Conversion
Common Shares
[F1]2026-06-26$54.18/sh+47,421$2,569,270→ 47,421 total - Exercise/Conversion
Stock Options
[F2][F1][F3][F4]2026-06-26−47,421→ 599,657 totalExercise: $54.18→ Common Shares (47,421 underlying)
- 231,094
Stock Options
[F2][F5][F3][F4]Exercise: $42.00→ Common Shares (231,094 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.