Brazilian Electric Power (AXIA3) details executive stock option awards

Rhea-AI Filing Summary

Brazilian Electric Power Co. executive Renato Costa Santos Carreira reported existing holdings of stock options linked to the company’s common shares. These options cover 585,452 and 203,364 underlying shares, each with an exercise price of R$42.00 per share that accrues 5% annual interest from grant to exercise. The awards were issued under the company’s restricted share-based compensation program and vest in thirds on the 3rd, 4th, and 5th anniversaries of grant, subject to performance and other conditions. Vested options must be exercised within 120 days of each maturity period, and any resulting shares are subject to a 180-day lock-up period.

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

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1. Name and Address of Reporting Person^*

Costa Santos Carreira Renato

(Last) (First) (Middle)

AVENIDA GRACA ARANHA, NO. 26

CENTRO

(Street)

RIO DE JANEIRO 20030-000

(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
BRAZILIAN ELECTRIC POWER CO [ AXIA3 ]

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)
	See Remarks*

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)

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 Options(1)	(2)	(3)	Common Shares	585,452	$42(4)	D
Stock Options(1)	(2)	(3)	Common Shares	203,364	$42(4)	D

Explanation of Responses:

1. The stock options were issued pursuant to the 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.

2. 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.

3. 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.

4. 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.

Remarks:

*Executive Vice President of People and Services. The Company currently trades on the B3 S.A. - Brasil, Bolsa, Balcao (B3) under the following ticker symbols, "AXIA3" for its Common Shares; "AXIA6" for its Class "B1" Preferred Shares and "AXIA7" for its Class "C" Preferred Shares.

	/s/ Renato Costa Santos Carreira	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)

FAQ

What does the Form 3 for AXIA show about Renato Costa Santos Carreira’s holdings?

The Form 3 shows Renato Costa Santos Carreira holds stock options over 585,452 and 203,364 common shares. These options come from a restricted share-based compensation program with performance conditions, staged vesting, and defined exercise and lock-up periods.

What is the exercise price of the Brazilian Electric Power Co (AXIA) stock options?

Each stock option has an exercise price of R$42.00 per share. This exercise price accrues interest at 5% per year from the grant date until exercise and can be adjusted under conditions described in the award documentation.

How do the AXIA executive’s stock options vest over time?

The options vest in three stages: one-third after three years from the grant date, then additional portions on the fourth and fifth anniversaries. Vesting depends on meeting specified performance goals and satisfying other conditions set out in the award agreement.

What deadlines apply to exercising the AXIA stock options once they vest?

Once options vest, the reporting person must exercise them within 120 days after each maturity period. If they are not exercised within this 120-day window, the options lapse and can no longer be converted into common shares.

Is there a lock-up period on shares from exercising AXIA stock options?

Yes. After exercising vested options, the resulting common shares are subject to a 180-day lock-up. During this 180-day period, the shares cannot be sold, transferred, or encumbered, according to the compensation program terms.

Are the AXIA stock options tied to any performance conditions?

The stock options are issued under a restricted share-based compensation program and are conditioned on achieving certain performance goals. Additional specified conditions in the award agreement must also be met for vesting and exercise rights to be maintained.