Abdalla Filho Jose Joao 4

What Happened Jose Joao Abdalla Filho, a director of AXIA Energia S.A. (AXIA3), was reported as receiving a total of 24,173 common shares on July 1, 2026. The filing shows two award/acquisition entries for 3,721 and 20,452 shares (reported with $0.00 price) and corresponding conversion-of-derivative-security entries for the same amounts. These transactions reflect the conversion of Class "C" preferred shares (PNC Shares) into common shares under the company’s bylaws and a mandatory redemption announced June 14, 2026 — no purchase price was paid.

Key Details

• Transaction date: July 1, 2026; Form 4 filed July 2, 2026 (timely).
• Share movements reported: +3,721 shares and +20,452 shares = +24,173 common shares.
• Reported prices: $0.00 per share (conversion/award; no cash consideration).
• Transaction codes: A = Award/Acquisition (common shares reported acquired); C = Conversion of derivative security (PNC → common).
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes of note:
  • F1: Conversion due to mandatory redemption of 0.0951% of outstanding PNC Shares and bylaws’ conversion rules.
  • F2–F3: Mr. Filho may be deemed to indirectly beneficially own these shares through control of Banclass FIA and FIA Dinamica Energia; both entities and Mr. Filho disclaim beneficial ownership except to the extent of pecuniary interest.
  • F4: Bylaws provide for automatic 1:1 conversion of PNC Shares over 2026–2031 (4% annually 2026–2030; remainder 2031).

Context

• These entries reflect a conversion/award event (not an open-market buy or sale). The $0.00 price indicates conversion/automatic issuance rather than a cash purchase.
• The filing treats the derivative conversion as a disposition of the preferred (derivative) security and acquisition of common shares; this is a routine corporate conversion/redemption step and not necessarily a signal of insider buying/selling intent.