Executive reports large stock option holdings at Brazilian Electric Power Co (AXIA3)
Rhea-AI Filing Summary
Brazilian Electric Power Co executive de Carvalho Freitas Filho Italo Tadeu reported stock option holdings in a Form 3. The filing shows two blocks of stock options over 770,331 and 231,094 underlying common shares, each with an exercise price of R$42.00 per share.
The options were granted under the company’s restricted share-based compensation program and vest over three to five years based on performance and other conditions. Vested options must be exercised within 120 days after each maturity period, and exercised shares are subject to a 180-day lock-up.
Positive
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Negative
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Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
de Carvalho Freitas Filho Italo Tadeu
Role
See Remarks*
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Options | -- | -- | -- |
| holding | Stock Options | -- | -- | -- |
Holdings After Transaction:
Stock Options — 770,331 shares (Direct)
Footnotes (1)
- The stock options were issued pursuant to Eletrobras - Brazilian Electric Power Co.'s (the "Company") 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. 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. 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. 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 does the AXIA3 Form 3 filing disclose for Brazilian Electric Power Co?
The Form 3 discloses that executive Italo Tadeu de Carvalho Freitas Filho holds stock options over 770,331 and 231,094 underlying common shares. These options were granted under the company’s restricted share-based compensation program with performance-based and time-based vesting conditions.
What is the exercise price of the Brazilian Electric Power Co (AXIA3) stock options?
The stock options have an exercise price of R$42.00 per share. The filing notes this exercise price accrues interest at 5% per year from grant to exercise and may be adjusted under specified conditions set out in the award agreement.
How do the AXIA3 stock options for Brazilian Electric Power Co vest over time?
One-third of the options vest three years from the grant date, with the remaining portions vesting on the fourth and fifth anniversaries. Vesting is subject to performance goals and other conditions defined in the award agreement for the compensation program.
What exercise deadlines apply to the Brazilian Electric Power Co (AXIA3) options?
The reporting person must exercise vested options within 120 days after each maturity period. If not exercised within this window, the options lapse. After exercise, the resulting shares are subject to a 180-day lock-up period before they can be sold or transferred.