AXIA Energia Director Jose Joao Abdalla Filho Receives Shares

What Happened
Jose Joao Abdalla Filho, a director (indirectly via entities he controls), was reported as receiving a total of 4,674,320 common shares of AXIA Energia S.A. on September 16, 2026. The filing shows two award/acquisition entries (719,654 and 3,954,666 shares) recorded at $0.00 and matching conversion-of-derivative entries for the same amounts at $0.00 — reflecting conversion of class "C" preferred shares (PNC) into common stock rather than a cash purchase or open-market trade.

Key Details

• Transaction date: September 16, 2026; Form 4 filed September 18, 2026 (appears timely).
• Shares acquired: 719,654 and 3,954,666 common shares (total 4,674,320); price reported $0.00 (corporate conversion/award).
• Disposition entries: matching conversion (derivative) entries indicate PNC preferred shares were converted into common shares.
• Footnotes: (F1) conversion tied to mandatory redemption of 19.61% of outstanding PNC announced Sept 3, 2026 and the company’s bylaws; (F2 & F3) holdings are held directly by Banclass FIA and FIA Dinamica, which Mr. Filho controls — he disclaims direct beneficial ownership except for pecuniary interest; (F4) bylaws provide for scheduled 1:1 conversion of remaining PNC shares over 2026–2031.
• Filing does not state the insider’s total common shares held after the conversion; ownership is reported indirectly through controlled entities.

Context
This was a corporate-action conversion of preferred (derivative) shares into common shares under company bylaws and a mandatory redemption program, not a market purchase or sale. Because the shares were issued/converted at $0.00 as part of the corporate process, this transaction should be interpreted as an adjustment to capital structure rather than a direct buy/sell signal by the insider. The filing notes Mr. Filho’s indirect control via Banclass and Dinamica; those entities (not necessarily Mr. Filho personally) directly hold the reported securities.