Eletrobras (NYSE: EBR) adjusts 46,530 RSUs for executive bonus

Rhea-AI Filing Summary

de Souza Monteiro Ivan reported acquisition or exercise transactions in this Form 4 filing.

BRAZILIAN ELECTRIC POWER CO (Eletrobras) reported that executive officer Ivan de Souza Monteiro received an adjusted grant of 46,530 restricted stock units (RSUs) on March 20, 2026. Each RSU equals one common share and is reserved for executive officers under the company’s share-based compensation program. The RSU count reflects an adjustment linked to the company’s December 2025 bonus stock issuance that created Class C preferred shares, with no additional consideration paid by the executive. Following this adjustment, he holds 223,558 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

OMB APPROVAL

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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^*

de Souza Monteiro Ivan

(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		46,530	A	(1)	223,558(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:

*Chief Executive Officer

	/s/ Ivan de Souza Monteiro	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 RSU transaction did Eletrobras (EBR) report for Ivan de Souza Monteiro?

Eletrobras reported an adjusted grant of 46,530 restricted stock units to executive Ivan de Souza Monteiro. These RSUs result from an award adjustment under the company’s compensation plan, linked to a prior bonus stock issuance, rather than a cash purchase in the market.

How are the Eletrobras (EBR) RSUs for Ivan de Souza Monteiro structured?

Each restricted stock unit is economically equivalent to one Eletrobras common share and is settled on a 1:1 basis. The RSUs were issued under the company’s restricted share-based compensation program designed for executive officers, aligning compensation with the company’s share performance over time.

Why was the number of Eletrobras (EBR) RSUs adjusted for this executive?

The 46,530 RSUs reflect an adjustment under the executive’s RSU award agreement following Eletrobras’s December 2025 bonus stock issuance, which created Class C preferred shares. This adjustment updated the award terms so the executive’s compensation remained consistent after the capital change.

Did Ivan de Souza Monteiro pay cash for the new Eletrobras (EBR) RSUs?

No, the filing states that no additional consideration was paid by Ivan de Souza Monteiro for the RSU adjustment. The change arose from the award agreement mechanics tied to the company’s December 2025 bonus stock issuance, rather than from a market purchase or cash transaction.

How many Eletrobras (EBR) RSUs does the executive hold after this Form 4?

After the reported adjustment, Ivan de Souza Monteiro holds 223,558 restricted stock units directly. Each RSU represents the economic equivalent of one common share, so this figure shows his total RSU-based equity exposure under the company’s executive compensation program at that time.

Are the reported Eletrobras (EBR) RSUs limited to executive officers?

Yes, the filing explains that these restricted stock units are reserved for executive officers of Eletrobras under its restricted share-based compensation program. This structure emphasizes equity-linked incentives for senior management, rather than a plan aimed at broader employee groups or public investors.