Funds tied to AXIA Energia (NYSE: EBR) director report 646,900-share sale
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
AXIA Energia S.A. director Pedro Batista de Lima Filho reported open-market sales of a combined 646,900 shares of AXIA securities on managed accounts associated with him. The sales included both Class "B1" preferred shares and common shares.
The Class "B1" preferred sales were executed at about $11.96 per share, while common share sales were at about $10.91 per share. After these transactions, the filing shows that various managed accounts and direct holdings continue to own multiple blocks of AXIA common and preferred shares, with beneficial ownership disclaimed except for Filho’s pecuniary interest.
Positive
- None.
Negative
- None.
Insights
Director-linked managed accounts reported sizable net share sales.
Entities managed by Radar Gestora de Recursos Ltda. and associated with director Pedro Batista de Lima Filho sold a total of 646,900 AXIA Energia shares in open-market transactions. The trades covered both Class "B1" preferred and common shares at stated weighted-average prices.
The filing emphasizes that vehicles such as Maliko, Manuka, Radar, Infrad, Tucurui and Xingo, which hold these positions, and Mr. Filho each disclaim beneficial ownership beyond their pecuniary interest. This suggests the activity reflects portfolio management by investment funds rather than purely personal trading, and the overall significance depends on AXIA’s total share base, which is not detailed here.
Insider Trade Summary
Net Seller: 646,900 shares ($7,148,609)
Net Sell
13 txns
Insider
Batista de Lima Filho Pedro
Role
null
Sold
646,900 shs ($7.15M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Shares | 307,000 | $10.91 | $3.35M |
| Sale | Common Shares | 73,500 | $10.91 | $802K |
| Sale | Common Shares | 91,200 | $10.91 | $995K |
| Sale | Common Shares | 88,600 | $10.91 | $967K |
| Sale | Class "B1" Preferred Shares | 47,500 | $11.96 | $568K |
| Sale | Class "B1" Preferred Shares | 11,300 | $11.96 | $135K |
| Sale | Class "B1" Preferred Shares | 14,100 | $11.96 | $169K |
| Sale | Class "B1" Preferred Shares | 13,700 | $11.96 | $164K |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
| holding | Class "B1" Preferred Shares | -- | -- | -- |
| holding | Class "B1" Preferred Shares | -- | -- | -- |
Holdings After Transaction:
Common Shares — 3,801,700 shares (Indirect, By managed account);
Class "B1" Preferred Shares — 15,362,400 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 (the "SEC"), upon request, full information regarding the number of shares sold at each separate price. The weighted average price, $57.34 Brazilian reals ("BRL") 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 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 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 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. 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 TUCURUI MASTER FUNDO DE INVESTIMENTO FINANCEIRO EM ACOES ("Tucurui") and receives a performance-based compensation in his capacity as a partner of Radar Gestora. 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. 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. The price reported in column 4 is a weighted average price. The reporting person undertakes to provide to AXIA, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price. The weighted average price, $62.85 BRL per share, has been converted to 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. The price reported in column 4 is a weighted average price. The reporting person undertakes to provide to AXIA, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price. The weighted average price, $62.84 BRL per share, has been converted to 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.
Key Figures
Total shares sold: 646,900 shares
Class B1 preferred sale price: $11.96 per share
Common share sale price: $10.91 per share
+4 more
7 metrics
Total shares sold
646,900 shares
Net open-market sales reported on May 11, 2026
Class B1 preferred sale price
$11.96 per share
Weighted-average price for Class "B1" preferred share sales
Common share sale price
$10.91 per share
Weighted-average price for common share sales
Indirect B1 preferred holding example
15,362,400 shares
Class "B1" preferred shares held indirectly after one transaction
Indirect common holding example
3,801,700 shares
Common shares held indirectly after one transaction
Direct common holding
51,115 shares
Common shares held directly following a reported holding entry
BRL to USD rate
5.2540 BRL per USD
Treasury reporting rate used for price conversion as of March 31, 2026
Key Terms
weighted average price, beneficial ownership, performance-based compensation, 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.
beneficial ownership financial
"disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest"
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.
performance-based compensation financial
"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).
managed account financial
"nature_of_ownership: By managed account"
Section 16 of the Securities Exchange Act of 1934 regulatory
"beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
FAQ
What insider transactions did AXIA Energia (EBR) report for Pedro Batista de Lima Filho?
AXIA Energia reported that accounts associated with director Pedro Batista de Lima Filho sold a total of 646,900 shares in open-market trades. These included both Class "B1" preferred shares and common shares, executed on May 11, 2026, across several managed investment vehicles.
Does the AXIA Energia (EBR) Form 4 indicate these trades were open-market sales?
Yes. Each transaction with code “S” is described as a sale in open market or private transaction. The filing notes they occurred at weighted-average prices, with the reporting person undertaking to provide detailed price breakdowns to AXIA, shareholders or SEC staff upon request.
What ownership types are shown for AXIA Energia (EBR) in this insider report?
The Form 4 shows both direct and indirect ownership. One entry lists 51,115 common shares held directly, while several large positions in common and Class "B1" preferred shares are held indirectly through managed accounts, reflecting the structure of Radar Gestora-managed funds.