AXIA Energia S.A.: director Pedro Batista de Lima Filho sold 272,900 shares

What happened

• The filing shows Pedro Batista de Lima Filho, a director, sold 272,900 common shares in open market or private sales on Oct 14, 2026 at a weighted average price of $11.50 per share for total proceeds of $3,138,350.
• The filing also shows Mr. Filho acquired 62,800 shares through derivative transactions (purchase of underlying securities, i.e., exercised derivative rights) on Oct 14, 2026 at a weighted average price of $11.54 per share for a total cost of $724,712.

Key details

• Transaction dates and prices: sales on Oct 14, 2026 at $11.50; derivative purchases on Oct 14, 2026 at $11.54 (weighted average prices reported).
• Shares sold: 155,900; 33,300; 1,000; 1,300; 51,700; 29,700 (total 272,900).
• Derivative shares acquired: 36,000; 7,600; 200; 300; 11,900; 6,800 (total 62,800).
• Shares owned after the transactions: not specified in the provided filing summary.
• Footnotes on price conversion: the filing reports weighted average BRL prices converted to USD using a rate of 5.2050 BRL per USD (U.S. Treasury reporting rate as of Sep 30, 2026). Reported BRL prices were approx. 59.86 BRL, 59.87 BRL, 60.05 BRL, and 60.06 BRL per share corresponding to the USD amounts; brokerage commissions and execution costs are excluded from the reported prices.
• Beneficial ownership disclaimers: the filing states Mr. Filho is a partner at Radar Gestora de Recursos Ltda., which manages several investment vehicles (Maliko, Manuka, Tucurui, Xingo, Radar, Infrad) and may be deemed to indirectly beneficially own certain reported shares; each fund and Mr. Filho disclaim beneficial ownership except to the extent of any pecuniary interest.
• Other footnote: filing notes automatic conversion rules for class "C" preferred shares into common shares per the company bylaws.
• Filing timeliness: Form 4 was filed on Oct 16, 2026 for transactions dated Oct 14, 2026; the filing does not indicate it was late.

Why it may matter

• Derivative transactions: the filing reports acquisitions via derivative transactions (exercise/purchase of underlying securities). The filing does not indicate a cashless exercise.
• Market trade or gift: the sales are reported as open market or private sales, not gifts.
• Ownership status: the filing includes disclaimers that Mr. Filho may be deemed to indirectly own certain shares through funds managed by Radar Gestora; it does not identify him as a 10% owner.
• This filing does not show why the insider traded or why the company acted.