Afya (AFYA) controller discloses stock options, RSUs and shares

Rhea-AI Filing Summary

Afya Ltd controller Welder Ferreira Santos filed an initial statement of holdings showing stock options, restricted stock units (RSUs) and Class A common shares. The filing lists several stock option awards to buy Class A shares at exercise prices of R$62.5900 and R$52.0000, which fully vest and become exercisable three years before their respective expiration dates, subject to continued service.

The holdings also include RSUs covering 5,000 Class A shares that vest in tranches of 500, 1,000, 1,500 and 2,000 shares on May 1, 2026, 2027, 2028 and 2029, plus an additional RSU grant over 5,239 shares that will vest on May 1, 2026, all contingent on continued service. Direct ownership of 38,325 Class A common shares is also reported.

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^*

FERREIRA SANTOS WELDER

(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)
	Controller

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	38,325	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	2,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2027(1)	05/01/2030	Class A Common Share	2,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2028(1)	05/01/2031	Class A Common Share	2,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2029(1)	05/01/2032	Class A Common Share	2,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2030(1)	05/01/2033	Class A Common Share	2,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2026(1)	05/01/2029	Class A Common Share	4,912	$52(2)	D
Stock Option (Right to Buy)	05/01/2027(1)	05/01/2030	Class A Common Share	4,913	$52(2)	D
Restricted Stock Unit	(3)	(3)	Class A Common Share	5,000	(3)	D
Restricted Stock Unit	(4)	(4)	Class A Common Share	5,239	(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 500, 1,000, 1,500 and 2,000 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 on May 1, 2026, subject to the Reporting Person's continued service through the vesting date.

	/s/ Welder Ferreira Santos	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) controller Welder Ferreira Santos report on this Form 3?

He reports his initial holdings of Afya securities, including stock options, restricted stock units (RSUs), and directly owned Class A common shares. This establishes his baseline ownership position as a reporting officer under insider disclosure rules.

What stock option awards are disclosed for Afya (AFYA) controller Welder Ferreira Santos?

The filing lists multiple stock option grants to buy Afya Class A common shares at exercise prices of R$62.5900 and R$52.0000. According to the footnotes, these options fully vest and become exercisable three years before their respective expiration dates, subject to continued service.

How are the Afya (AFYA) RSUs for Welder Ferreira Santos scheduled to vest?

One RSU award covers 5,000 Class A shares vesting in tranches of 500, 1,000, 1,500 and 2,000 shares on May 1 of 2026, 2027, 2028 and 2029. Another RSU grant over 5,239 shares vests on May 1, 2026, subject to continued service.

Does this Afya (AFYA) Form 3 show any insider buying or selling activity?

No specific purchases or sales are reported; the entries are classified as holdings with unknown transaction codes. The Form 3 serves to disclose existing options, RSUs, and share ownership rather than documenting new market transactions.

What direct share ownership does Welder Ferreira Santos report in Afya (AFYA)?

He reports direct ownership of 38,325 Class A common shares. This figure sits alongside his derivative positions in stock options and RSUs, giving a fuller picture of his total equity exposure to Afya as an officer.