Maciel Maia Denis 4

What Happened

• Maciel Maia Denis, Customer & Technology Officer at COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO (Sabesp, ticker SBSP3), had 10,181 restricted stock units convert to common shares upon vesting on May 1, 2026. To cover tax withholding, 2,800 of those shares were surrendered at an implied value of $6.69 each, totaling $18,732. Net shares retained from this vesting tranche: 7,381.

Key Details

• Transaction date: May 1, 2026; Form 4 filed May 15, 2026 (later than the typical 2-business-day window for U.S. insiders).
• Vesting/conversion reported as derivative exercise/conversion (code M); tax withholding reported as disposition (code F).
• Withheld shares for taxes: 2,800 shares @ $6.69 = $18,732.
• Shares owned after the transactions: not specified in the filing.
• Footnote: These shares come from an April 29, 2025 grant of 40,715 RSUs that vest pro rata on May 1 of 2026–2029. Filing remarks also note adjustments from a March 2026 capital increase and an April 2026 stock split.
• The issuer is a foreign private issuer; transactions are exempt from Sections 16(b) and 16(c) under the Exchange Act.

Context

• This was a routine vesting of RSUs (conversion of derivative awards), not an open-market purchase or sale driven by market timing. The surrender of shares to cover taxes is common in RSU vesting events (a form of tax withholding/cashless settlement). The filing’s later date may affect timeliness disclosure but does not change the economic nature of the transaction.