Director gets RSU adjustment at Brazilian Electric Power (AXIA3)

Rhea-AI Filing Summary

Falconi Campos Vicente reported acquisition or exercise transactions in this Form 4 filing.

Brazilian Electric Power Co director Vicente Falconi Campos received 10,639 Restricted Stock Units on March 20, 2026 as a grant under the company’s restricted share compensation program for the Board of Directors.

Each RSU equals one common share on a 1:1 basis, bringing his directly held RSU total to 51,115. The number of RSUs reflects an adjustment tied to a bonus stock issuance in December 2025 that created Class "C" preferred shares, and no additional consideration was paid for this adjustment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Falconi Campos Vicente

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	10,639	$0.00	--

Holdings After Transaction: Restricted Stock Units — 51,115 shares (Direct)

Footnotes (1)

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 Board of Directors. 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.

Form 4 Insider Transactions: What Each Field Means →

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

OMB Number:			3235-0287
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hours per response:			0.5

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^*

Falconi Campos Vicente

(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)

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

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		10,639	A	(1)	51,115(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 Board of Directors.

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:

	/s/ Vicente Falconi Campos	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 AXIA director Vicente Falconi Campos report?

Director Vicente Falconi Campos reported receiving 10,639 Restricted Stock Units as a grant. The award was made under Brazilian Electric Power Co’s restricted share compensation program for its Board of Directors and is settled in common shares on a one-for-one basis.

How many RSUs does the AXIA director hold after this Form 4 transaction?

After this RSU grant and adjustment, the director holds 51,115 Restricted Stock Units directly. Each RSU represents the economic equivalent of one common share, so the reported balance mirrors 51,115 common shares once the units are settled.

What are the key terms of the RSUs granted to the AXIA director?

Each Restricted Stock Unit is economically equivalent to one common share and is settled in common shares on a 1:1 basis. The RSUs were issued under Brazilian Electric Power Co’s restricted share-based compensation program and are specifically reserved for members of the Board of Directors.

Why was the number of RSUs for the AXIA director adjusted?

The RSU count was adjusted under the director’s RSU award agreement following a bonus stock issuance in December 2025. That corporate action created Class "C" preferred shares, and the adjustment aligned the RSU award without requiring any additional payment from the director.

Did the AXIA director pay anything for the RSU adjustment reported on Form 4?

No, the director did not pay additional consideration for the RSU adjustment. The filing explains that the updated RSU number resulted from terms in the RSU award agreement connected to the company’s December 2025 bonus stock issuance and related share creation.

Are the RSUs reported by the AXIA director part of a board-only plan?

Yes, the RSUs are reserved for the Board of Directors under the company’s restricted share-based compensation program. This indicates the award is a component of board-level equity compensation rather than a broad-based employee equity plan.