Rafael Gamboa Lopes, Executive Vice President of Gerdau S.A. (NYSE:GGB), filed a Form 4 on September 21, 2026, reporting the sale of 51,800 preferred shares on September 17, 2026.

Key Highlights

  • Shares sold: Rafael Gamboa Lopes disposed of 51,800 preferred shares on September 17, 2026, at a price of $5.09 per share.
  • Remaining direct ownership: Following the transaction, Lopes directly holds 83,399 preferred shares.
  • Currency note: The price is denominated in Brazilian reais and was translated into U.S. dollars at a rate of R$5.1521 per US$1.00, as reported by the Central Bank of Brazil on September 17, 2026.
  • Restricted Stock Units outstanding: Lopes holds six tranches of RSUs with underlying preferred shares totaling 80,782 shares, with expiration/exercisable dates ranging from February 12, 2027 to February 12, 2029.
  • Foreign trading symbol: The issuer's foreign trading symbol is listed as GGBR in the filing.

Gerdau S.A. Executive Vice President Reports Preferred Share Disposal and RSU Holdings

According to the filing, Rafael Gamboa Lopes, identified as Executive Vice President of Gerdau S.A. (NYSE:GGB), reported a sale of 51,800 preferred shares on September 17, 2026, under transaction code "S," at a per-share price of $5.09. The filing notes that this price is denominated in Brazilian reais and has been translated to U.S. dollars using the September 17, 2026 selling rate of R$5.1521 per US$1.00, as reported by the Central Bank of Brazil. Following the disposal, Lopes directly holds 83,399 preferred shares, according to the filing.

The filing also discloses six separate tranches of Restricted Stock Units (RSUs) held directly by Lopes, each with preferred shares as the underlying security. The RSU tranches, with their respective exercise/expiration dates and share amounts, are as follows: 3,570 shares exercisable February 12, 2027; 25,646 shares exercisable February 22, 2027; 5,540 shares exercisable April 1, 2027; 4,987 shares exercisable February 12, 2028; 34,356 shares exercisable February 21, 2028; and 6,683 shares exercisable February 12, 2029. The conversion prices of these RSUs are listed as either $3.78 or $3.56, or $4.04 per share, also translated from Brazilian reais at the same exchange rate.

The Form 4 was filed individually by one reporting person and does not indicate any amendment to a prior filing. The filing was signed by Rafael Gamboa Lopes and dated September 21, 2026.

What Was Disclosed

The filing discloses a sale of 51,800 preferred shares by Gerdau S.A.'s Executive Vice President on September 17, 2026, leaving him with 83,399 preferred shares directly held, along with six tranches of RSUs covering 80,782 underlying preferred shares.