AXIA Energia S.A. Chief Executive Officer Ivan de Souza Monteiro filed a Form 4 on November 2, 2026, reporting two transactions in common shares dated October 30, 2026, including a mandatory conversion of Class "C" Preferred Shares and an exercise of stock options.

Key Highlights

  • PNC Share conversion: 4,939 Class "C" Preferred Shares were converted into 4,939 Common Shares at $0 on October 30, 2026, pursuant to the company's mandatory redemption of 18.54% of outstanding PNC Shares announced on October 20, 2026.
  • Stock option exercise: 82,969 stock options were exercised (transaction code M) on October 30, 2026, at an exercise price of R$57.08 per share, acquiring 82,969 Common Shares.
  • Post-transaction common share ownership: Following both transactions, the reporting person directly beneficially owned 497,201 securities (representing the sum of RSUs and common shares held), according to the filing.
  • Remaining derivative holdings: After the option exercise, the reporting person held 1,370,558 stock options directly, and 21,706 Class "C" Preferred Shares directly.
  • Lock-up condition: Upon exercising options, the reporting person is subject to a 180-calendar-day lock-up period during which the shares may not be sold, transferred, or encumbered.
  • Role: Ivan de Souza Monteiro is identified in the filing as Chief Executive Officer of AXIA Energia S.A.

Details of Ivan de Souza Monteiro's October 30, 2026 Transactions at AXIA Energia S.A.

According to the Form 4 filed with the SEC on November 2, 2026, Ivan de Souza Monteiro, Chief Executive Officer of AXIA Energia S.A. (ticker AXIA3; foreign trading symbol AXIA7), reported two transactions on October 30, 2026. The first was a conversion (transaction code A) of 4,939 Class "C" Preferred Shares into 4,939 Common Shares at a price of $0. The filing states this occurred "in connection with the mandatory redemption of 18.54% of AXIA Energia S.A.'s outstanding PNC Shares announced on October 20, 2026 and pursuant to the terms of the Company's bylaws."

The second transaction was an exercise (transaction code M) of 82,969 stock options, resulting in the acquisition of 82,969 Common Shares at an exercise price of R$57.08 per share. The filing notes that the exercise price "accrues interest at a rate of 5% per annum from grant date to exercise date and is subject to certain other adjustments." The stock options were issued under the company's restricted share-based compensation program, with exercise conditioned on the achievement of certain performance goals and other conditions. The filing further states that one-third of the options vest three years from the grant date, with the remainder vesting on the fourth and fifth anniversaries, subject to conditions set forth in the award agreement.

Regarding the broader PNC Share conversion schedule, the filing explains that pursuant to Article 11 of the company's bylaws, PNC Shares are automatically converted into Common Shares at a 1:1 ratio, with 4% of originally-issued PNC Shares converting in each of fiscal years 2026 through 2030, and all remaining PNC Shares converting in fiscal year 2031. The filing also discloses that exercised options are subject to a 180-calendar-day lock-up period, and that unexercised vested options must be exercised within 120 days after each respective maturity period or they lapse.

What Was Disclosed

The filing reported two transactions by AXIA Energia S.A.'s CEO on October 30, 2026: a mandatory conversion of 4,939 PNC Shares into Common Shares at no cost, and an exercise of 82,969 stock options at R$57.08 per share, bringing directly held beneficial ownership to 497,201 securities.