Brazilian Electric Power officer lists holdings
Brazilian Electric Power Co executive Rodrigo Limp Nascimento filed an initial ownership report listing his equity interests.
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Form Type
3
Rhea-AI Filing Summary
Brazilian Electric Power Co executive Rodrigo Limp Nascimento filed an initial ownership report listing his equity interests. He directly holds common shares, restricted stock units tied 1:1 to common shares, Class "C" preferred shares that automatically convert into common shares on a scheduled basis, and multiple tranches of stock options with an exercise price of R$42.00 per share that accrue 5% annual interest until exercise.
Insider Trade Summary
Holdings reported, no transactions
Holdings
Insider
Limp Nascimento Rodrigo
Role
See Remarks*
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Holding | Class "C" Preferred Shares | -- | -- | -- |
| Holding | Stock Options | -- | -- | -- |
| Holding | Stock Options | -- | -- | -- |
| Holding | Common Shares | -- | -- | -- |
| Holding | Restricted Stock Units | -- | -- | -- |
Holdings:
Class "C" Preferred Shares — 7,916 contracts (Direct);
Stock Options — 908,985 contracts (Direct);
Common Shares — 57,976 shares (Direct);
Restricted Stock Units — 71,428 shares (Direct)
Footnotes (6)
- F1. 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 Eletrobras - Brazilian Electric Power Co.'s (the "Company") restricted share based compensation program. These RSUs are reserved for the executive officers.
- F2. 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.
- F3. The stock options were issued pursuant to the Company's restricted share based compensation program. Exercise is conditioned up the achievement of certain performance goals, as set forth in the award agreement, and the satisfaction of certain other conditions.
- F4. 1/3 of the stock options vest 3 years from grant date, with the remaining vesting on the 4th and 5th anniversaries from grant date, subject to certain conditions, as set forth in the award agreement.
- F5. The reporting person must exercise vested options within 120 days after each respective maturity period, failing which the options lapse. Upon exercise, the reporting person is subject to a lock-up period of 180 calendar days during which the shares may not be sold, transferred, or encumbered.
- F6. The exercise price is R$42.00 per share accrues interest at a rate of 5% per annum from grant date to exercise date and is subject to certain other adjustments.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the AXIA Form 3 filing for Brazilian Electric Power Co show?
The Form 3 filing shows that executive Rodrigo Limp Nascimento has reported his initial ownership in Brazilian Electric Power Co, including common shares, restricted stock units, Class "C" preferred shares, and stock options granted under the company’s restricted share based compensation program.
How many stock options does the AXIA executive report holding?
Rodrigo Limp Nascimento reports holding stock options over 677,891 and 231,094 underlying common shares. These options were issued under the company’s restricted share based compensation program and become exercisable in stages, subject to performance goals and other conditions in the award agreement.
What are the key terms of the AXIA stock options in this Form 3?
The stock options carry an exercise price of R$42.00 per share, accruing 5% annual interest from grant to exercise. One-third vests after three years, with the remainder vesting in the fourth and fifth years, subject to conditions and a 180-day post-exercise lock-up period.
How are the AXIA restricted stock units structured for the executive?
Each restricted stock unit is economically equivalent to one common share and settles in common shares on a 1:1 basis. They were issued under Brazilian Electric Power Co’s restricted share based compensation program and are reserved for executive officers participating in that plan.
What exercise and sale restrictions apply to the AXIA executive’s stock options?
The executive must exercise vested options within 120 days after each maturity period or they lapse. After exercise, the resulting shares are subject to a 180-day lock-up period during which they cannot be sold, transferred, or encumbered under the plan’s terms.
AI-generated analysis. How Rhea-AI works. Not financial advice.
