Executive at Brazilian Electric Power Co (AXIA) reports sizable share, RSU and option holdings
Rhea-AI Filing Summary
Brazilian Electric Power Co executive Ivan de Souza Monteiro filed an initial ownership report showing several types of equity in the company. He directly holds 192,519 Common Shares and 177,028 Restricted Stock Units, each RSU being the economic equivalent of one Common Share under the company’s compensation program.
He also holds Class "C" Preferred Shares convertible into 50,601 Common Shares at a 1:1 ratio, with automatic conversions scheduled between fiscal years 2026 and 2031. In addition, he has stock options over 1,453,527 underlying Common Shares at an exercise price of R$42.00 per share, which vest over years three to five, require exercise within 120 days after each maturity, and carry a 180-day lock-up after exercise while accruing 5% annual interest on the exercise price.
Positive
- None.
Negative
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Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
de Souza Monteiro Ivan
Role
See Remarks*
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class "C" Preferred Shares | -- | -- | -- |
| holding | Stock Options | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
Holdings After Transaction:
Class "C" Preferred Shares — 50,601 shares (Direct);
Stock Options — 1,453,527 shares (Direct);
Common Shares — 192,519 shares (Direct);
Restricted Stock Units — 177,028 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.
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FAQ
What insider holdings did Ivan de Souza Monteiro report in Brazilian Electric Power Co (AXIA)?
He reported significant direct equity interests in Brazilian Electric Power Co. These include 192,519 Common Shares, 177,028 Restricted Stock Units, Class "C" Preferred Shares convertible into 50,601 Common Shares, and stock options over 1,453,527 underlying Common Shares under the company’s compensation program.
How do the Restricted Stock Units reported by Ivan de Souza Monteiro in AXIA work?
The Restricted Stock Units equal one Common Share each and are settled 1:1 in Common Shares. They were issued under the company’s restricted share-based compensation program and are reserved for executive officers, aligning management compensation with Brazilian Electric Power Co’s long-term share performance.
What are the key terms of Ivan de Souza Monteiro’s stock options in Brazilian Electric Power Co (AXIA)?
His stock options cover 1,453,527 underlying Common Shares at an exercise price of R$42.00 per share. They vest one-third after three years, with the rest on the fourth and fifth anniversaries, subject to performance goals, exercise windows, and a 180-day post-exercise lock-up period.
Does the exercise price on Ivan de Souza Monteiro’s AXIA stock options change over time?
Yes. The stock options have an exercise price of R$42.00 per share that accrues interest at 5% per year from grant date to exercise date. The exercise price is also subject to certain other adjustments defined in the award agreement governing the options.