Eletrobras (NYSE: EBR) director details indirect stakes via funds
Filing Impact
Filing Sentiment
Form Type
3/A
Rhea-AI Filing Summary
Brazilian Electric Power Co (Eletrobras) director Vicente Falconi Campos filed an amended Form 3 to update his share and RSU holdings. The filing shows direct ownership of 112,799 Class "B1" Preferred Shares and 52,567 Class "C" Preferred Shares, plus 40,476 restricted stock units reserved for the board.
Footnotes clarify that prior reports overstated one Class "B1" position, which is corrected here. The filing also details large indirect holdings through investment funds Startours and Tuca, where Mr. Campos is a controlling shareholder, and disclaims beneficial ownership beyond his pecuniary interest.
The Class "C" Preferred Shares automatically convert into common shares at a 1:1 ratio, with 4% of the originally issued Class "C" shares converting each fiscal year from 2026 through 2030 and all remaining Class "C" shares converting in fiscal year 2031, unless earlier redeemed under the company’s bylaws.
Positive
- None.
Negative
- None.
Insider Trade Summary
7 transactions reported
Mixed
7 txns
Insider
Falconi Campos Vicente
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class "C" Preferred Shares | -- | -- | -- |
| holding | Class "C" Preferred Shares | -- | -- | -- |
| holding | Class "C" Preferred Shares | -- | -- | -- |
| holding | Class "B1" Preferred Shares | -- | -- | -- |
| holding | Class "B1" Preferred Shares | -- | -- | -- |
| holding | Class "B1" Preferred Shares | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Class "C" Preferred Shares — 52,567 shares (Direct);
Class "C" Preferred Shares — 980,750 shares (Indirect, See Footnotes);
Class "B1" Preferred Shares — 112,799 shares (Direct);
Class "B1" Preferred Shares — 3,818,090 shares (Indirect, See Footnotes);
Restricted Stock Units — 40,476 shares (Direct)
Footnotes (1)
- Due to administrative error, this amount was previously reported as 212,799 Class "B1" Preferred Shares. Vicente Falconi Campos ("Mr. Campos") is a controlling shareholder in STARTOURS FIA IE ("Startours") which directly holds 3,818,090 Class "B1" Preferred Shares and 980,750 Class "C" Preferred Shares of Eletrobras - Brazilian Electric Power Co. (the "Company"). Mr. Campos may be deemed to indirectly beneficially own these shares by virtue of control over Startours. For the purposes of this filing, each of Startours and Mr. Campos disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Startours or Mr. Campos is the beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise. Mr. Campos is a controlling shareholder in TUCA FIA RESPONSABILIDADE LIMITADA ("Tuca") which directly holds 2,232,989 Class "B1" Preferred Shares and 573,588 Class "C" Preferred Shares of the Company. Mr. Campos may be deemed to indirectly beneficially own these shares by virtue of control over Tuca. For the purposes of this filing, each of Tuca and Mr. Campos disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Tuca or Mr. Campos is the beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise. Each restricted stock unit ("RSU") is the economic equivalent of one Common Share, is settled in Common Shares on a 1:1 basis, and was issued pursuant to the Company's restricted share based compensation program. These RSUs are reserved for the Board of Directors. Pursuant to Article 11 of the Bylaws of the Company, the Class "C" Preferred Shares shall be automatically converted into Common Shares, assuming such Class "C" Preferred Shares are not earlier mandatorily redeemed by the Company in accordance with its Bylaws, at a ratio of 1:1, as follows: * 4% of the total volume of originally-issued Class "C" Preferred Shares, allocated proportionally among all holders, in each of the fiscal years 2026, 2027, 2028, 2029 and 2030; and * all Class "C" Preferred Shares remaining, in fiscal year 2031.
Key Figures
Direct Class B1 Preferred: 112,799 shares
Direct Class C Preferred underlying common: 52,567 shares
Indirect Class B1 via Startours: 3,818,090 shares
+5 more
8 metrics
Direct Class B1 Preferred
112,799 shares
Direct Class "B1" Preferred Shares held by Mr. Campos
Direct Class C Preferred underlying common
52,567 shares
Underlying common shares for direct Class "C" Preferred
Indirect Class B1 via Startours
3,818,090 shares
Class "B1" Preferred Shares held by Startours
Indirect Class C via Startours
980,750 shares
Class "C" Preferred Shares held by Startours
Indirect Class B1 via Tuca
2,232,989 shares
Class "B1" Preferred Shares held by Tuca
Indirect Class C via Tuca
573,588 shares
Class "C" Preferred Shares held by Tuca
Restricted Stock Units
40,476 units
RSUs equal to common shares, reserved for the board
Annual Class C conversion
4% per year
Of originally issued Class "C" shares convert 2026–2030
Key Terms
Restricted Stock Units, pecuniary interest, beneficial ownership, Section 16 of the Securities Exchange Act of 1934, +2 more
6 terms
Restricted Stock Units financial
"Each restricted stock unit ("RSU") is the economic equivalent of one Common Share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
pecuniary interest financial
"disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein"
beneficial ownership financial
"disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Section 16 of the Securities Exchange Act of 1934 regulatory
"beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
automatically converted financial
"the Class "C" Preferred Shares shall be automatically converted into Common Shares"
FAQ
What insider position does Vicente Falconi Campos report at Brazilian Electric Power Co (EBR)?
Vicente Falconi Campos, a director of Brazilian Electric Power Co, reports direct holdings of Class "B1" and Class "C" Preferred Shares and restricted stock units. He also reports large indirect holdings through investment funds Startours and Tuca, where he is a controlling shareholder.
What restricted stock units does Vicente Falconi Campos report in EBR?
He reports 40,476 restricted stock units, each economically equivalent to one common share and settled on a 1:1 basis. The footnotes explain these RSUs are issued under the company’s restricted share-based compensation program and are reserved for the board of directors.
How does the EBR filing describe beneficial ownership and pecuniary interest for Startours and Tuca?
The filing states that each of Startours, Tuca, and Mr. Campos disclaims beneficial ownership of the reported securities except to the extent of pecuniary interest. It further clarifies this should not be considered an admission of beneficial ownership for Section 16 or other legal purposes.