AXIA Energia (AXIA3) managed accounts sell 478,900 shares at $10.55 average
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
AXIA Energia S.A. director Pedro Batista de Lima Filho reported indirect open-market sales of AXIA common shares executed by managed investment accounts on June 29, 2026. Managed accounts sold a total of 478,900 common shares at a weighted average price of about $10.55 per share, based on R$55.43 and an exchange rate of 5.2540 BRL per USD. After these transactions, one managed account held 4,649,910 shares, another held 6,999,089 shares, and Filho also reported 51,115 shares held directly. Footnotes state the accounts are managed by Radar Gestora de Recursos Ltda., and both the entities and Filho disclaim beneficial ownership beyond their pecuniary interests.
Positive
- None.
Negative
- None.
Insights
Indirect fund sales reduce exposure but look like routine portfolio moves.
The filing shows managed accounts associated with Radar Gestora sold 478,900 AXIA Energia common shares at a weighted average of about $10.55 on June 29, 2026. These are open-market sales, which generally carry stronger signaling value than internal restructurings.
However, the shares are held in funds and LLCs where Pedro Batista de Lima Filho is a partner of the asset manager, not the titled owner. Footnotes emphasize performance-based compensation and explicit disclaimers of beneficial ownership beyond pecuniary interests, framing this as institutional portfolio activity.
Post-transaction positions, such as 4,649,910 and 6,999,089 shares remaining in two managed accounts, suggest the sales represent a partial trim rather than a full exit. Actual impact depends on broader fund strategies, which are not detailed in this disclosure.
Insider Trade Summary
Net Seller: 478,900 shares ($5,052,395)
Net Sell
7 txns
Insider
Batista de Lima Filho Pedro
Role
null
Sold
478,900 shs ($5.05M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Shares | 233,700 | $10.55 | $2.47M |
| Sale | Common Shares | 245,200 | $10.55 | $2.59M |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Common Shares — 6,999,089 shares (Indirect, By managed account);
Common Shares — 51,115 shares (Direct, null)
Footnotes (1)
- The price reported in column 4 is a weighted average price. The reporting person undertakes to provide to AXIA Energia S.A. ("AXIA"), any security holder of AXIA, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price. The weighted average price, $55.43 Brazilian reals per share, has been converted to U.S. dollars ("USD") using the U.S. Department of the Treasury Bureau of the Fiscal Service Treasury Reporting Rates of Exchange as of March 31, 2026 (the most recently published quarterly rate, applicable to transactions through June 30, 2026), at a rate of 5.2540 BRL per USD (fiscaldata.treasury.gov). Brokerage commissions and other costs of execution, if any, are excluded from the reported price. Pedro Batista de Lima Filho ("Mr. Filho") is a partner at Radar Gestora de Recursos Ltda. ("Radar Gestora"), which is responsible for the portfolio management of MANUKA INVESTMENTS LLC - BANCO BTG PACTUAL S/A ("Manuka") and receives a performance-based compensation in his capacity as a partner of Radar Gestora. Mr. Filho may be deemed to indirectly beneficially own these shares by virtue of its relationship with Manuka. For the purposes of this filing, each of Manuka and Mr. Filho disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Manuka or Mr. Filho is the beneficial owner of any of the reported securities for purposes of Section 16 of the Exchange Act, or otherwise. Mr. Filho is a partner at Radar Gestora, which is responsible for the portfolio management of INFRAD MASTER FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES ("Infrad") and receives a performance-based compensation in his capacity as a partner of Radar Gestora. Mr. Filho may be deemed to indirectly beneficially own these shares by virtue of its relationship with Infrad. For the purposes of this filing, each of Infrad and Mr. Filho disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Infrad or Mr. Filho is the beneficial owner of any of the reported securities for purposes of Section 16 of the Exchange Act, or otherwise. Mr. Filho is a partner at Radar Gestora, which is responsible for the portfolio management of MALIKO INVESTMENTS LLC - BANCO BTG PACTUAL S/A ("Maliko") and receives a performance-based compensation in his capacity as a partner of Radar Gestora. Mr. Filho may be deemed to indirectly beneficially own these shares by virtue of its relationship with Maliko. For the purposes of this filing, each of Maliko and Mr. Filho disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Maliko or Mr. Filho is the beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise. Mr. Filho is a partner at Radar Gestora, which is responsible for the portfolio management of TUCURUI MASTER FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES ("Tucurui") and receives a performance-based compensation in his capacity as a partner of Radar Gestora. Mr. Filho may be deemed to indirectly beneficially own these shares by virtue of its relationship with Tucurui. For the purposes of this filing, each of Tucurui and Mr. Filho disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Tucurui or Mr. Filho is the beneficial owner of any of the reported securities for purposes of Section 16 of the Exchange Act, or otherwise. Mr. Filho is a partner at Radar Gestora, which is responsible for the portfolio management of XINGO MASTER FUNDO DE INVESTIMENTO FINANCEIRO DE ACOES ("Xingo") and receives a performance-based compensation in his capacity as a partner of Radar Gestora. Mr. Filho may be deemed to indirectly beneficially own these shares by virtue of its relationship with Xingo. For the purposes of this filing, each of Xingo and Mr. Filho disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Xingo or Mr. Filho is the beneficial owner of any of the reported securities for purposes of Section 16 of the Exchange Act, or otherwise. Mr. Filho is a partner at Radar Gestora, which is responsible for the portfolio management of RADAR MASTER FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES ("Radar") and receives a performance-based compensation in his capacity as a partner of Radar Gestora. Mr. Filho may be deemed to indirectly beneficially own these shares by virtue of its relationship with Radar. For the purposes of this filing, each of Radar and Mr. Filho disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein. This filing shall not be deemed an admission that Radar or Mr. Filho is the beneficial owner of any of the reported securities for purposes of Section 16 of the Exchange Act, or otherwise.
Key Figures
Shares sold: 478,900 shares
Weighted average sale price (BRL): R$55.43 per share
Weighted average sale price (USD): $10.55 per share
+4 more
7 metrics
Shares sold
478,900 shares
Total AXIA common shares sold by managed accounts on June 29, 2026
Weighted average sale price (BRL)
R$55.43 per share
Weighted average price for reported AXIA share sales
Weighted average sale price (USD)
$10.55 per share
Converted using 5.2540 BRL per USD exchange rate
Exchange rate
5.2540 BRL per USD
Treasury Reporting Rates of Exchange as of March 31, 2026
Shares held in one managed account
4,649,910 shares
Total AXIA shares held indirectly after transactions in one account
Shares held in another managed account
6,999,089 shares
Total AXIA shares held indirectly after transactions in another account
Directly held shares
51,115 shares
AXIA common shares reported as directly owned after transactions
Key Terms
weighted average price, performance-based compensation, beneficial ownership, managed account, +1 more
5 terms
weighted average price financial
"The price reported in column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
performance-based compensation financial
"and receives a performance-based compensation in his capacity as a partner of Radar Gestora."
Pay that rises or falls with measurable results, where employees or executives receive bonuses, stock, or other rewards only if specific performance goals are met. Investors care because it aligns the interests of managers with owners—like paying a driver by miles driven rather than time—so it can encourage stronger company results, affect future earnings and risk-taking, and signal confidence (or potential incentives for short-term decisions).
beneficial ownership regulatory
"disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
managed account financial
"direct_or_indirect: "I", nature_of_ownership: "By managed account""
pecuniary interest financial
"except to the extent of his or its pecuniary interest therein."
FAQ
What insider activity did AXIA (AXIA3) report in this Form 4?
The Form 4 reports that managed accounts associated with director Pedro Batista de Lima Filho sold 478,900 AXIA Energia common shares in open-market transactions on June 29, 2026 at a weighted average price of about $10.55 per share.