Eletrobras (NYSE: EBR) adjusts 18,774 RSUs for bonus share issuance

Rhea-AI Filing Summary

Brazilian Electric Power Co (Eletrobras) reported that executive officer Rodrigo Limp Nascimento acquired 18,774 Restricted Stock Units as a compensation-related award. Each RSU equals one common share and is settled on a 1:1 basis under the company’s restricted share-based compensation program.

The filing explains that the 18,774 RSUs reflect an adjustment required by his RSU award agreement following the company’s December 2025 bonus stock issuance, which created Class "C" preferred shares. No additional consideration was paid by the executive for this adjustment. After the change, he holds 90,202 RSUs directly.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Limp Nascimento Rodrigo

(Last) (First) (Middle)

AVENIDA GRACA ARANHA, NO. 26

CENTRO

(Street)

RIO DE JANEIRO 20030-000

(City) (State) (Zip)

BRAZIL

(Country)

2. Issuer Name and Ticker or Trading Symbol
BRAZILIAN ELECTRIC POWER CO [ AXIA3 ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks*

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Restricted Stock Units	03/20/2026		A		18,774	A	(1)	90,202(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

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.

2. The number of RSUs reported herein reflects an adjustment made pursuant to the reporting person's RSU award agreement in connection with the bonus stock issuance carried out by the Company in December 2025, which resulted in the creation and issuance of the Class "C" Preferred Shares. No additional consideration was paid by the reporting person in connection with such adjustment.

Remarks:

*Executive Vice-President Of Regulation, Institutional, Market Regulation and Corporate Relations

	/s/ Rodrigo Limp Nascimento	03/23/2026
	** 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 4 (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 4: SEC 1474 (03-26)

FAQ

What insider transaction did EBR report for Rodrigo Limp Nascimento?

Eletrobras reported that executive officer Rodrigo Limp Nascimento received 18,774 Restricted Stock Units. The units were granted as part of the company’s restricted share-based compensation program and recorded as an adjustment tied to a prior bonus stock issuance, with no extra payment required.

How many RSUs does the EBR executive hold after this Form 4 transaction?

After the reported transaction, the executive directly holds 90,202 Restricted Stock Units. This total reflects the 18,774-unit adjustment related to the company’s December 2025 bonus stock issuance, which created Class "C" preferred shares under the existing award agreement.

What does each EBR Restricted Stock Unit represent in this Form 4?

Each Restricted Stock Unit is the economic equivalent of one common share of Eletrobras. The RSUs are settled in common shares on a 1:1 basis under the company’s restricted share-based compensation program reserved for executive officers, aligning awards directly with the share price.

Why were Rodrigo Limp Nascimento’s RSUs at EBR adjusted by 18,774 units?

The 18,774 RSU adjustment was made under his RSU award agreement due to Eletrobras’ December 2025 bonus stock issuance. That corporate action created Class "C" preferred shares, requiring a proportional RSU adjustment so the original economic value of his award was maintained.

Did the EBR executive pay anything for the 18,774 additional RSUs?

No, the filing states that no additional consideration was paid for the RSU adjustment. The 18,774 Restricted Stock Units were issued to reflect terms of the existing award agreement following the company’s December 2025 bonus stock issuance and related share-class change.

Are the reported EBR RSUs part of an executive compensation plan?

Yes, the RSUs were issued under Eletrobras’ restricted share-based compensation program. This program specifically reserves RSUs for executive officers, granting them units that convert into common shares on a one-for-one basis, linking compensation to the company’s equity performance.