Brazilian Electric Power Co (AXIA) executive details shares, RSUs and options in Form 3
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Brazilian Electric Power Co (AXIA) filed an initial ownership report for executive officer Marcelo de Siqueira Freitas. He directly holds 17,607 Common Shares and 4,627 Class “C” Preferred Shares that are automatically convertible into Common Shares on a 1:1 basis between fiscal years 2026 and 2031 if not redeemed.
His equity incentives include 16,190 Restricted Stock Units, each economically equivalent to one Common Share and reserved for executive officers, and stock options over 677,891 and 231,094 underlying Common Shares. These options have an exercise price of R$42.00 per share, accrue 5% annual interest from grant to exercise, vest over three to five years, are performance-based, must be exercised within 120 days after maturity, and are subject to a 180-day post-exercise lock-up.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
de Siqueira Freitas Marcelo
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 After Transaction:
Class "C" Preferred Shares — 4,627 shares (Direct);
Stock Options — 677,891 shares (Direct);
Common Shares — 17,607 shares (Direct);
Restricted Stock Units — 16,190 shares (Direct)
Footnotes (1)
- 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. 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. 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. 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.
FAQ
What does the Form 3 for Brazilian Electric Power Co (AXIA) show about Marcelo de Siqueira Freitas?
The Form 3 shows Marcelo de Siqueira Freitas’ initial equity holdings as an executive officer, including Common Shares, Class “C” Preferred Shares, Restricted Stock Units, and performance-based stock options with detailed vesting, exercise, and lock-up conditions disclosed in the filing.
What stock option awards are reported for Marcelo de Siqueira Freitas at Brazilian Electric Power Co (AXIA)?
The filing reports stock options over 677,891 and 231,094 underlying Common Shares. These options carry an exercise price of R$42.00 per share, accrue 5% annual interest from grant to exercise, and are subject to performance conditions and time-based vesting requirements under the company’s compensation program.
How do the Restricted Stock Units (RSUs) work for AXIA’s executive Marcelo de Siqueira Freitas?
Each RSU is economically equivalent to one Common Share and settles 1:1 in Common Shares. Marcelo holds 16,190 RSUs, which were issued under the company’s restricted share-based compensation program and are specifically reserved for executive officers according to the disclosed footnote.
What are the vesting and exercise conditions on AXIA’s stock options held by Marcelo de Siqueira Freitas?
One-third of the options vest three years from the grant date, with the remainder vesting on the fourth and fifth anniversaries, subject to conditions. Vested options must be exercised within 120 days after each maturity, otherwise they lapse, and exercised shares face a 180-day lock-up period.