de Meirelles Wolff Elio Gil 4

What Happened

• Elio Gil de Meirelles Wolff, Executive Vice‑President of Strategy and Business Development at AXIA Energia S.A. (AXIA3), exercised derivative awards on 2026-06-26 to acquire 58,712 common shares. The exercise price recorded is R$54.18 per share for a total cash outlay of approximately R$3,181,016. The filing also shows a corresponding disposition of the derivative instrument (58,712 units) at R$0.00, consistent with conversion/exercise rather than an open‑market sale.

Key Details

• Transaction date: 2026-06-26; Form 4 filed: 2026-06-29 (timely filing).
• Acquired: 58,712 shares @ R$54.18 = R$3,181,016.
• Disposed: 58,712 derivative units @ R$0.00 (reflects conversion/exercise of the derivative).
• Shares owned after transaction: not specified in the excerpt; the filing references aggregate holdings per footnote F2 (vested RSUs net of taxes, unvested RSUs, and common shares).
• Relevant footnotes: F1 notes the R$54.18 exercise price accrues interest at 5% p.a. from grant to exercise; F3–F5 describe these awards as performance‑conditioned stock options with multi‑year vesting, 120‑day exercise windows after maturity, and a 180‑day lock‑up after exercise.
• Transaction code: M = exercise/conversion of derivative (option).

Context

• This was an option/derivative exercise (not an open‑market purchase or sale). The derivative instrument was converted into common shares rather than sold; the reporting person appears subject to a 180‑day post‑exercise lock‑up (per F5), so these shares likely cannot be sold immediately. The awards are performance‑conditioned (per F3), and the exercise price accrues interest (per F1).