AXIA3 EVP Elio Gil Receives 208 Shares via Conversion

What Happened

• Elio Gil de Meirelles Wolff, Executive Vice‑President of AXIA Energia S.A. (AXIA3), received 208 common shares on August 17, 2026. The Form 4 shows an award/acquisition (Code A) for 208 shares at $0.00 and a conversion of a derivative security (Code C) for 208 shares at $0.00 — effectively a conversion of class "C" preferred (PNC) shares into common shares with no cash payment.

Key Details

• Transaction date: 2026-08-17; Form 4 filed: 2026-08-19 (timely — within typical 2‑business‑day reporting window).
• Reported amounts: 208 common shares acquired; price reported $0.00; total cash consideration $0.
• Transaction codes: A = award/grant/acquisition; C = conversion of derivative security (PNC → common).
• Footnote highlights:
  • F1: These conversions occurred in connection with a mandatory redemption of 6.14% of outstanding PNC shares announced Aug 6, 2026 and per the company bylaws.
  • F3: Bylaws provide for automatic 1:1 conversion schedule of PNC shares over 2026–2031.
  • F2 explains how holdings are reported (sum of RSUs and common shares); the excerpt does not list a consolidated post-transaction total holding.
• No sale or cash purchase occurred — this was a conversion/award, not an open‑market trade.

Context

• This is a structural conversion of preferred shares into common shares under AXIA’s bylaws and the company’s announced mandatory redemption; it does not reflect a market purchase or sale by the insider.
• Conversions and awards increase the insider’s common share count but involve no cash outlay by the insider and are not the same signal as a discretionary purchase or sale.