Afya (AFYA) vice president reports stock options, RSUs and share stake

Rhea-AI Filing Summary

Afya Ltd vice president Gustavo De Souza Portes Meirelles reported his initial holdings in Class A Common Shares and equity awards. He holds stock options to acquire 12,000 Class A shares in each of five grants at an exercise price of 79.9100, exercisable in Brazilian Reais, with expirations ranging from May 1, 2028 to May 1, 2032. These options fully vest and become exercisable three years before their respective expiration dates, subject to continued service.

He also holds restricted stock units covering 31,500 Class A shares, which are scheduled to vest in tranches of 7,000, 10,500 and 14,000 shares on May 1, 2026, May 1, 2027 and May 1, 2028, respectively, contingent on continued service. In addition, he directly owns 2,537 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^*

De Souza Portes Meirelles Gustavo

(Last) (First) (Middle)

C/O AFYA LIMITED

RUA PARAIBA NO. 330 17TH FL FUNCIONARIOS

(Street)

BELO HORIZONTE MINAS GERAIS 30130-917

(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	2,537	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)	05/01/2025(1)	05/01/2028	Class A Common Share	12,000	$79.91(2)	D
Stock Option (Right to Buy)	05/01/2026(1)	05/01/2029	Class A Common Share	12,000	$79.91(2)	D
Stock Option (Right to Buy)	05/01/2027(1)	05/01/2030	Class A Common Share	12,000	$79.91(2)	D
Stock Option (Right to Buy)	05/01/2028(1)	05/01/2031	Class A Common Share	12,000	$79.91(2)	D
Stock Option (Right to Buy)	05/01/2029(1)	05/01/2032	Class A Common Share	12,000	$79.91(2)	D
Restricted Stock Unit	(3)	(3)	Class A Common Share	31,500	(3)	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 outstanding restricted stock units ("RSUs"). The RSUs have no expiration date and will vest as to 7,000, 10,500 and 14,000 shares on the first day of May in 2026, 2027 and 2028, respectively, subject to the Reporting Person's continued service through the applicable vesting dates.

	/s/ Gustavo de Souza Portes Meirelles	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 Gustavo De Souza Portes Meirelles report on this Form 3?

He reports his initial ownership of Afya Class A Common Shares and equity awards. This includes multiple stock option grants, a large restricted stock unit position, and directly held shares, establishing his starting stake as a company officer.

How many Afya (AFYA) stock options does the vice president report and at what exercise price?

He reports several stock option (right to buy) positions, each covering 12,000 underlying Class A Common Shares. All these options carry an exercise price of 79.9100, which the footnotes explain is denominated in Brazilian Reais, not in U.S. dollars.

When do the reported Afya (AFYA) stock options vest and expire?

The options fully vest and become exercisable three years before their respective expiration dates. Expiration dates run annually from May 1, 2028 through May 1, 2032, and vesting is conditioned on the vice president’s continued service with Afya.

What restricted stock units does the Afya (AFYA) vice president hold according to the filing?

He holds restricted stock units tied to 31,500 Class A Common Shares. These RSUs vest in three tranches of 7,000, 10,500 and 14,000 shares on May 1, 2026, May 1, 2027 and May 1, 2028, subject to his continued service.

How many Afya (AFYA) Class A Common Shares does the vice president own directly?

The Form 3 shows direct ownership of 2,537 Afya Class A Common Shares. This direct shareholding is in addition to his stock options and restricted stock units, giving him both current and potential future equity exposure in the company.

Are there any buy or sell transactions reported for Afya (AFYA) in this Form 3?

No buy or sell transactions are described; the entries are categorized as holdings. The Form 3 establishes existing stock options, restricted stock units, and directly owned shares, rather than reporting new market trades or exercises by the vice president.