AXIA Energia (AXIA3) Director Pedro Filho Sells Redeemed Shares

What Happened

• Pedro Batista de Lima Filho, a director of AXIA Energia S.A., reported dispositions of PNC (class "C" preferred) shares that were mandatorily redeemed for cash under the company's bylaws. On September 22, 2026 he disposed of a total of 609,134 shares (reported as derivative transactions) at a converted price of $10.74 per share, resulting in aggregate proceeds of approximately $6,542,099.
• The reported disposals break down as: 12,806 shares for $137,536; 16,904 shares for $181,549; 305,092 shares for $3,276,688; and 274,332 shares for $2,946,326. These were not open-market sales but cash redemptions of PNC shares.

Key Details

• Transaction date: September 22, 2026. Reported USD price: $10.74/share (conversion from BRL 55.56 using Treasury rate 5.1740 BRL/USD as of June 30, 2026).
• Shares disposed: 609,134 total (see breakdown above). Total proceeds ≈ $6,542,099.
• Reported as derivative "other acquisition or disposition" (code J) — these were mandatory redemptions under company bylaws (not necessarily indicative of a market sale).
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: F1 explains the PNC shares were subject to automatic conversion/redemption schedule and here were mandatorily redeemed for cash; F2 explains the BRL→USD conversion; F3–F8 note Mr. Filho is a partner at Radar Gestora, which manages several master funds (Tucurui, Xingo, Radar, Infrad, Maliko, Manuka) that may hold these shares, and both the funds and Mr. Filho disclaim beneficial ownership except to the extent of pecuniary interest.
• Filing timeliness: Filing date matches transaction date (no late filing indicated).

Context

• These transactions represent cash redemptions of preferred shares under AXIA’s bylaws rather than open-market insider sales. For retail investors, redemption proceeds reflect the company’s mechanics for PNC shares rather than a director actively selling stock into the market.
• Mr. Filho’s connection is via Radar Gestora (portfolio manager for several funds); the filing clarifies potential indirect holdings and contains disclaimers about beneficial ownership.