Afya (AFYA) vice president details options, RSUs and 43,032 shares

Rhea-AI Filing Summary

Afya Ltd vice president Junior Lelio de Souza has filed an initial statement of equity holdings. The filing lists stock options over 8,000 Class A common shares per grant at an exercise price of 52.0000 or 62.5900, with expiration dates from 2026 through 2033. Footnotes state these options fully vest and become exercisable three years before each expiration date, subject to continued service.

The filing also shows restricted stock units over 20,000 and 29,400 Class A common shares, which are scheduled to vest in tranches between May 1, 2026 and May 1, 2029, again conditioned on continued service. In addition, he directly holds 43,032 Class A common shares.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Junior Lelio de Souza

(Last) (First) (Middle)

C/O AFYA LIMITED

RUA PARAIBA NO.330 17TH FL, FUNCIONARIOS

(Street)

BELO HORIZONTE MINAS GERAIS 0130-917

(City) (State) (Zip)

BRAZIL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Afya Ltd [ AFYA ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Share	43,032	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	05/01/2026(1)	05/01/2029	Class A Common Share	8,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2027(1)	05/01/2030	Class A Common Share	8,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2028(1)	05/01/2031	Class A Common Share	8,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2029(1)	05/01/2032	Class A Common Share	8,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2030(1)	05/01/2033	Class A Common Share	8,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2023(1)	05/01/2026	Class A Common Share	36,000	$52(2)	D
Stock Option (Right to Buy)	05/01/2024(1)	05/01/2027	Class A Common Share	36,000	$52(2)	D
Stock Option (Right to Buy)	05/01/2025(1)	05/01/2028	Class A Common Share	36,000	$52(2)	D
Stock Option (Right to Buy)	05/01/2026(1)	05/01/2029	Class A Common Share	36,000	$52(2)	D
Restricted Stock Unit	(3)	(3)	Class A Common Share	20,000	(3)	D
Restricted Stock Unit	(4)	(4)	Class A Common Share	29,400	(4)	D

Explanation of Responses:

1. The options fully vest and become exercisable three years prior to the expiration date, subject to the Reporting Person's continued service through the applicable vesting dates.

2. The exercise price is denominated in Brazilian Reais.

3. Represents Class A Common Shares subject to restricted stock units ("RSUs"). The RSUs have no expiration date and will vest as to 2,000, 4,000, 6,000 and 8,000 shares on the first day of May in 2026, 2027, 2028 and 2029, respectively, subject to the Reporting Person's continued service through the applicable vesting dates.

4. The RSUs have no expiration date and will vest as to 14,200 shares on May 1, 2026 and as to 15,200 shares on May 1, 2027, subject to the Reporting Person's continued service through the applicable vesting dates.

	/s/ Lelio de Souza Junior	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Afya (AFYA) vice president Junior Lelio de Souza report on this Form 3?

He reports his initial equity holdings in Afya Ltd, including stock options, restricted stock units, and common shares. The filing details exercise prices, expiration dates, and service-based vesting schedules that govern when these awards can convert into Class A common shares.

How many Afya (AFYA) Class A common shares does Junior Lelio de Souza directly hold?

He directly holds 43,032 Class A common shares. This position is separate from his derivative holdings, such as stock options and restricted stock units, which represent additional potential future shares if vesting and exercise conditions are met under the company’s equity arrangements.

What stock option awards for Afya (AFYA) shares are listed for Junior Lelio de Souza?

He holds stock options over 8,000 underlying Class A common shares in several grants at exercise prices of 52.0000 and 62.5900, denominated in Brazilian Reais, with expirations ranging from 2026 to 2033, all subject to service-based vesting provisions before exercisability.

What restricted stock units (RSUs) in Afya (AFYA) does Junior Lelio de Souza report?

He reports RSUs over 20,000 and 29,400 Class A common shares. These RSUs have no expiration date and will vest in scheduled tranches between May 1, 2026 and May 1, 2029, provided he continues serving through the applicable vesting dates.

How do the vesting terms work for Afya (AFYA) stock options held by Junior Lelio de Souza?

The options fully vest and become exercisable three years before their respective expiration dates. This vesting is contingent on his continued service with Afya through each applicable vesting date, as specified in the explanatory footnotes accompanying the equity award disclosures.

In what currency are Afya (AFYA) stock option exercise prices for Junior Lelio de Souza denominated?

The stock option exercise prices are denominated in Brazilian Reais. A footnote clarifies this currency basis for the 52.0000 and 62.5900 exercise prices tied to his various option grants over Afya’s Class A common shares.