Brazilian Electric Power (AXIA3) executive details equity awards
Rhea-AI Filing Summary
Brazilian Electric Power Co executive Camila Gualda Sampaio Araujo has filed an initial Form 3 reporting her equity holdings. She holds 51,786 Common Shares directly, plus 13,611 Class "C" Preferred Shares that are scheduled to convert into Common Shares at a 1:1 ratio between fiscal years 2026 and 2031 under the company’s bylaws. She also reports stock options over 585,452 and 203,364 underlying Common Shares with an exercise price of R$42.00 per share, which vest over years three, four, and five from grant and must be exercised within 120 days after each maturity, followed by a 180-day lock-up. In addition, she holds 47,619 Restricted Stock Units, each economically equivalent to one Common Share and issued under the company’s restricted share-based compensation program for executive officers.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Class "C" Preferred Shares | -- | -- | -- |
| holding | Stock Options | -- | -- | -- |
| holding | Stock Options | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
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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