de Bittencourt Marinho Gisomar Francisco 4
4 · AXIA Energia S.A. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
AXIA Energia Director Receives 1 Common Share via Conversion
What Happened
Director de Bittencourt Marinho Gisomar Francisco received 1 common share on July 1, 2026. The Form 4 shows an acquisition (A) of 1 share at $0.00 and a corresponding conversion (C) of a derivative security (1 share) at $0.00 — net effect: one PNC (class "C" preferred) share converted into one common share. No cash was paid or received in this transaction.
Key Details
- Transaction date: 2026-07-01; Form 4 filed: 2026-07-02 (timely).
- Reported entries: Grant/acquisition (A) — 1 common share @ $0.00 (value $0); Conversion of derivative (C) — 1 share @ $0.00 (disposed, derivative).
- Shares owned after transaction: not specified in the provided filing.
- Footnote F1: Conversion follows a mandatory redemption of 0.0951% of outstanding PNC Shares announced June 14, 2026 and executed July 1, 2026.
- Footnote F2: Under the company’s bylaws (Article 11), PNC Shares automatically convert 1:1 into common shares over scheduled annual conversions (4% of original PNC volume each year 2026–2030, remainder in 2031).
- No 10b5-1 plan, tax withholding, or late filing indicated in the provided filing.
Context
This was a bookkeeping/structural conversion of preferred shares into common shares per AXIA’s bylaws and a mandatory redemption mechanism — the $0.00 prices reflect a non-cash conversion, not a market purchase or sale. Such conversions are routine corporate actions and do not, by themselves, indicate an open-market buy or sell decision by the insider.
Insider Transaction Report
- Award
Common Shares
[F1]2026-07-01+1→ 4,651 total - Conversion
Class "C" Preferred Shares
[F2][F1]2026-07-01−1→ 1,221 total→ Common Shares (1 underlying)
Footnotes (2)
- [F1]On July 1, 2026, certain of the class "C" preferred shares ("PNC Shares") previously reported herein were converted into Common Shares, in connection with the mandatory redemption of 0.0951% of AXIA Energia S.A. (the "Company")'s outstanding PNC Shares announced on June 14, 2026 and pursuant to the terms of the Company's bylaws.
- [F2]Pursuant to Article 11 of the Bylaws of the Company, the PNC Shares shall be automatically converted into Common Shares, assuming such PNC Shares are not earlier mandatorily redeemed by the Company in accordance with its Bylaws, at a ratio of 1:1, as follows: 4% of the total volume of originally-issued PNC Shares, allocated proportionally among all holders, in each of the fiscal years 2026, 2027, 2028, 2029 and 2030; and all PNC Shares remaining, in fiscal year 2031.