AXIA Energia Director Pedro Filho Receives 1.26M Shares via Conversion

What Happened
Pedro Batista de Lima Filho, a director of AXIA Energia S.A. (AXIA3), was reported on Form 4 as acquiring a total of 1,260,542 common shares on September 16, 2026. The transaction reflects two related entries: awards/acquisitions of 925,503 and 335,039 shares (reported at $0.00) and corresponding conversions of derivative securities (same share counts) into common shares (also $0.00). No cash was paid — these shares resulted from conversion of class "C" preferred (PNC) shares.

Key Details

• Transaction date: September 16, 2026; Form 4 filed September 17, 2026 (appears timely under the Form 4 two-business-day rule).
• Shares received: 925,503 + 335,039 = 1,260,542 common shares. Price reported: $0.00 (conversion, not a cash purchase).
• Transaction types/codes: A = award/grant/acquisition; C = conversion of derivative security (conversion of PNC preferred into common).
• Reported reason: Footnote F1 states conversion occurred in connection with a mandatory redemption of 19.61% of outstanding PNC Shares announced Sept 3, 2026 and per the company’s bylaws. Footnote F8 explains PNC Shares convert at a 1:1 ratio according to a multi-year schedule.
• Beneficial ownership notes: Multiple footnotes (F2–F7) disclose Mr. Filho is a partner at Radar Gestora, which manages several funds (Maliko, Manuka, Tucurui, Xingo, Radar, Infrad). He may be deemed to indirectly beneficially own the reported shares by virtue of that relationship, though the funds and Mr. Filho disclaim beneficial ownership except to the extent of pecuniary interest.

Context
This was not a market purchase or sale but a corporate conversion of preferred shares into common shares under the company’s bylaws (a technical equity reclassification). Because no cash changed hands and the filing includes disclaimers about indirect ownership through managed funds, retail investors should treat this as an administrative/structural issuance rather than a personal buy or sell signal by the director.