AXIA3 Fiscal Council Member de Bittencourt Receives 224 Shares

What Happened

• de Bittencourt Marinho Gisomar Francisco, a member of AXIA Energia S.A.'s Fiscal Council, received 224 common shares on September 16, 2026. The filing shows an award/acquisition of 224 shares at $0.00 and a simultaneous conversion/disposition of 224 derivative (class "C" preferred, “PNC”) shares at $0.00 — net effect: 224 common shares issued to the insider with no cash exchanged.

Key Details

• Transaction date: September 16, 2026; Form 4 filed September 18, 2026 (timely filing).
• Reported transactions: A (award/acquisition) — 224 common shares @ $0.00; C (conversion of derivative security) — 224 shares @ $0.00.
• Cash value reported: $0 (conversion/award, not an open-market purchase or sale).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Remark: insider is a Member of the Fiscal Council.
• Footnotes:
  • F1: The conversion followed a mandatory redemption of 19.61% of outstanding PNC shares announced Sept 3, 2026.
  • F2: Under Article 11 of the bylaws, PNC shares convert to common shares 1:1 on a scheduled basis (4% of original PNC volume each fiscal year 2026–2030, remainder in 2031).

Context

• This was a corporate-action conversion of preferred (PNC) shares into common shares under the company’s bylaws and a partial mandatory redemption — not a purchase or sale indicating insider sentiment. Derivative conversion and award transactions often reflect structural equity changes rather than trading decisions by the insider.