Afya CFO discloses options, RSUs and shares

Afya Ltd’s Chief Financial Officer, Luis Andre Carpintero Blanco, has filed an initial Form 3 detailing his equity holdings.

Rhea-AI Filing Summary

Afya Ltd’s Chief Financial Officer, Luis Andre Carpintero Blanco, has filed an initial Form 3 detailing his equity holdings. He directly holds 61,103 Class A Common Shares. He also holds stock options to buy 14,000 Class A shares in each of five grants at an exercise price of 62.5900, expiring between May 2029 and May 2033, and options on 23,500 shares in each of two grants at an exercise price of 52.0000, expiring in May 2029 and May 2030.

In addition, he holds restricted stock units covering 35,000, 3,200 and 16,800 Class A shares. According to the footnotes, these RSUs vest on May 1 of 2026, 2027, 2028 and 2029, subject to his continued service with the company.

Insider Trade Summary

11 transactions reported

Mixed 11 txns

Insider Blanco Luis Andre Carpintero

Role Chief Financial Officer

Type	Security	Shares	Price	Value
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Restricted Stock Unit	--	--	--
holding	Restricted Stock Unit	--	--	--
holding	Restricted Stock Unit	--	--	--
holding	Class A Common Share	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 117,000 contracts (Direct); Restricted Stock Unit — 55,000 contracts (Direct); Class A Common Share — 61,103 shares (Direct)

Footnotes (5)

1. F1. 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. F2. The exercise price is denominated in Brazilian Reais.
3. F3. Represents Class A Common Shares subject to restricted stock units ("RSUs"). The RSUs have no expiration date and will vest as to 3,500, 7,000, 10,500 and 14,000 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. F4. 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.
5. F5. 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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What equity holdings does Afya (AFYA) CFO Luis Andre Carpintero Blanco report on this Form 3?

He reports direct ownership of 61,103 Class A Common Shares, plus multiple stock option and restricted stock unit awards. These positions collectively show his compensation is significantly linked to Afya’s share performance over several future years.

What stock options for Afya (AFYA) shares are disclosed for the CFO?

He holds options to buy 14,000 Class A shares in each of five grants at a 62.5900 exercise price, expiring between 2029 and 2033, and options on 23,500 shares in each of two grants at a 52.0000 exercise price, expiring in 2029 and 2030.

What restricted stock units (RSUs) does the Afya (AFYA) CFO hold?

He holds RSUs covering 35,000, 3,200 and 16,800 Afya Class A Common Shares. Footnotes state these RSUs have no expiration date and will vest on May 1 in 2026, 2027, 2028 and 2029, subject to his continued service.

Do the Afya (AFYA) CFO’s options and RSUs have vesting conditions?

Yes. Option footnotes state they vest and become exercisable three years before expiration, contingent on continued service. RSUs vest on specified May 1 dates from 2026 through 2029, also requiring that he remain in service through each vesting date.

In what currency are the Afya (AFYA) CFO’s stock option exercise prices denominated?

A footnote clarifies that the disclosed exercise prices of 62.5900 and 52.0000 for the CFO’s stock options are denominated in Brazilian Reais. This reflects Afya’s local currency context while the underlying securities are Class A Common Shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 07:51 AM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Blanco Luis Andre Carpintero

(Last) (First) (Middle)

C/O AFYA LIMITED

RUA PARAIBA, NO. 330, 17 ANDAR

(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)
	Chief Financial Officer

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	61,103	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	14,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2027(1)	05/01/2030	Class A Common Share	14,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2028(1)	05/01/2031	Class A Common Share	14,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2029(1)	05/01/2032	Class A Common Share	14,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2030(1)	05/01/2033	Class A Common Share	14,000	$62.59(2)	D
Stock Option (Right to Buy)	05/01/2026(1)	05/01/2029	Class A Common Share	23,500	$52(2)	D
Stock Option (Right to Buy)	05/01/2027(1)	05/01/2030	Class A Common Share	23,500	$52(2)	D
Restricted Stock Unit	(3)	(3)	Class A Common Share	35,000	(3)	D
Restricted Stock Unit	(4)	(4)	Class A Common Share	3,200	(4)	D
Restricted Stock Unit	(5)	(5)	Class A Common Share	16,800	(5)	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 3,500, 7,000, 10,500 and 14,000 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.

5. 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/ Luis Andre Carpintero Blanco	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)