Coppetti Clarice 4

What Happened

• Clarice Coppetti, Petrobras' Chief of Corporate Affairs, recorded a disposition to the issuer of 9,910.72 phantom shares on May 14, 2026. These were derivative "phantom" awards tied to PETR3 common shares and were cash-settled rather than sold on the open market. The filing shows no per-share cash price (reported as N/A), but the Form 4 footnote uses a 20-session weighted average price of BRL 52.21 per share (convenience-converted to ≈ $10.49), implying an approximate cash value of BRL 517,439 (about $104k).

Key Details

• Transaction date: 2026-05-14; reported on Form 4 filed 2026-05-18 (timely filing).
• Transaction type/code: Disposition to issuer (D) — derivative/phantom shares, cash-settled on vesting.
• Shares affected: 9,910.72 phantom shares disposed.
• Price: Not reported on the form (N/A). Footnote conversion: 52.21 BRL per share (20-day VWAP), converted at 4.9803 BRL/USD → ≈ $10.49/share; total ≈ $104k.
• Shares owned after transaction: Not reported in this filing.
• Footnotes: F1—these are performance-plan phantom shares settled in cash; deferred portion vests in four equal annual installments and additional phantom units may be credited for dividends/interest. F2—price shown is a convenience conversion based on a 20-day VWAP and a Central Bank exchange rate.

Context

• This was a cash settlement of phantom (derivative) awards under Petrobras’ Performance Award Program, not an open-market sale of common stock. Derivative settlements often reflect scheduled vesting or plan mechanics and do not necessarily indicate a change in the insider’s view of the company’s stock.