AXIA Energia (AXIA3) EVP Elio Gil de Meirelles Receives Award, Converts Shares

What Happened

• Elio Gil de Meirelles, Executive Vice‑President of AXIA Energia S.A. (AXIA3), was credited with 625 common shares on September 16, 2026. The report shows a grant/award of 625 shares (A) at $0.00 and a simultaneous conversion/disposition of 625 derivative (C) at $0.00 — effectively converting preferred shares into common shares with no cash exchanged.

Key Details

• Transaction date: 2026-09-16; Form 4 filed: 2026-09-18 (appears timely).
• Shares involved: 625 common shares acquired via award; 625 class "C" preferred shares converted (reported as derivative disposition).
• Price/value: $0.00 per share; no cash proceeds were reported.
• Shares owned after transaction: not numerically specified in the filing; footnote F2 indicates holdings are reported as the sum of RSUs and common shares.
• Notable footnotes:
  • F1: The conversion occurred in connection with a mandatory redemption of 19.61% of outstanding class "C" preferred shares announced Sept 3, 2026 and per the company bylaws.
  • F3: Company bylaws provide for automatic 1:1 conversion of remaining PNC (class "C" preferred) shares over 2026–2031 (scheduled partial conversions each year).
• Transaction codes: A = Award/Grant (acquisition); C = Conversion of derivative security (disposition of preferred into common).

Context

• This was an internal conversion/award tied to the company’s preferred-share redemption and conversion provisions, not an open‑market buy or sale. No cash changed hands, so the transaction reflects a change in security form rather than a purchase or sale that would more directly signal insider sentiment.