AXIA Energia director reports 272,900-share sales
The reported transactions included purchases of Class C Preferred Shares and sales of Common Shares through six managed accounts.
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Form Type
4
Rhea-AI Filing Summary
Director Pedro Batista de Lima Filho reported six managed-account purchases totaling 62,800 Class “C” Preferred Shares of AXIA Energia S.A. (AXIAY) on October 14, 2026, at reported weighted-average prices of $11.54 per share. The accounts also reported six sales totaling 272,900 Common Shares at weighted-average prices of $11.50 per share. The accounts were associated with Maliko, Manuka, Tucurui, Xingo, Radar and Infrad; no Rule 10b5-1 plan is reported.
Mr. Filho is a partner at Radar Gestora, which manages the portfolios of those entities. He and each named entity disclaim beneficial ownership except to the extent of their respective pecuniary interests. A separate holding entry lists 51,115 Common Shares held directly. Class C Preferred Shares are subject to automatic 1:1 conversion into Common Shares if not earlier mandatorily redeemed: 4% of originally issued PNC Shares is allocated proportionally in each fiscal year from 2026 through 2030, with remaining shares converting in fiscal year 2031.
Insights
Analyzing...
Insider Trade Summary
Net Seller: 210,100 shares
Net Sell
13 txns
Insider
Batista de Lima Filho Pedro
Role
Director
Bought
62,800 shs ($725K)
Sold
272,900 shs ($3.14M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Class "C" Preferred Shares F9, F10, F2 | 36,000 | $11.54 | $415K |
| Purchase | Class "C" Preferred Shares F9, F10, F3 | 7,600 | $11.54 | $88K |
| Purchase | Class "C" Preferred Shares F9, F11, F5 | 200 | $11.54 | $2K |
| Purchase | Class "C" Preferred Shares F9, F11, F6 | 300 | $11.54 | $3K |
| Purchase | Class "C" Preferred Shares F9, F10, F7 | 11,900 | $11.54 | $137K |
| Purchase | Class "C" Preferred Shares F9, F10, F8 | 6,800 | $11.54 | $78K |
| Sale | Common Shares F1, F2 | 155,900 | $11.50 | $1.79M |
| Sale | Common Shares F1, F3 | 33,300 | $11.50 | $383K |
| Sale | Common Shares F4, F5 | 1,000 | $11.50 | $12K |
| Sale | Common Shares F4, F6 | 1,300 | $11.50 | $15K |
| Sale | Common Shares F1, F7 | 51,700 | $11.50 | $595K |
| Sale | Common Shares F1, F8 | 29,700 | $11.50 | $342K |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Class "C" Preferred Shares — 6,620,481 contracts (Indirect, By managed account);
Common Shares — 4,818,231 shares (Indirect, By managed account);
Common Shares — 51,115 shares (Direct)
Footnotes (11)
- F1. The price reported in column 4 is a weighted average price. The reporting person undertakes to provide to AXIA Energia S.A. (the "Company"), any security holder of the Company, 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, $59.86 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 September 30, 2026 (the most recently published quarterly rate at the time of filing), at a rate of 5.2050 BRL per USD (fiscaldata.treasury.gov). Brokerage commissions and other costs of execution, if any, are excluded from the reported price.
- F2. 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.
- F3. 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.
- F4. The price reported in column 4 is a weighted average price. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price. The weighted average price, $59.87 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 September 30, 2026 (the most recently published quarterly rate at the time of filing), at a rate of 5.2050 BRL per USD (fiscaldata.treasury.gov). Brokerage commissions and other costs of execution, if any, are excluded from the reported price.
- F5. 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.
- F6. 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.
- F7. 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.
- F8. 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.
- F9. Pursuant to Article 11 of the Bylaws of the Company, the class "C" preferred shares ("PNC Shares") shall be automatically converted into Common Shares, assuming such PNC Shares are not earlier mandatorily redeemed by the Company in accordance with its Bylaws, at a ratio of 1:1, as follows: 4% of the total volume of originally-issued PNC Shares, allocated proportionally among all holders, in each of the fiscal years 2026, 2027, 2028, 2029 and 2030; and all PNC Shares remaining, in fiscal year 2031.
- F10. The price reported in column 4 is a weighted average price. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price. The weighted average price, $60.05 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 September 30, 2026 (the most recently published quarterly rate at the time of filing), at a rate of 5.2050 BRL per USD (fiscaldata.treasury.gov). Brokerage commissions and other costs of execution, if any, are excluded from the reported price.
- F11. The price reported in column 4 is a weighted average price. The reporting person undertakes to provide to the Company, any security holder of the Company, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price. The weighted average price, $60.06 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 September 30, 2026 (the most recently published quarterly rate at the time of filing), at a rate of 5.2050 BRL per USD (fiscaldata.treasury.gov). Brokerage commissions and other costs of execution, if any, are excluded from the reported price.
Key Figures
Class C Preferred Shares purchased: 62,800 shares
Purchase price: $11.54 per share
Common Shares sold: 272,900 shares
+4 more
7 metrics
Class C Preferred Shares purchased
62,800 shares
Six managed-account purchases on October 14, 2026
Purchase price
$11.54 per share
Reported weighted-average price
Common Shares sold
272,900 shares
Six managed-account sales on October 14, 2026
Sale price
$11.50 per share
Reported weighted-average price
Common Shares held directly
51,115 shares
Separate holding entry
Automatic conversion ratio
1:1
Class C Preferred Shares into Common Shares
Scheduled annual conversion allocation
4%
Of originally issued PNC Shares in each fiscal year from 2026 through 2030
Key Terms
weighted average price, PNC Shares, pecuniary interest, mandatorily redeemed
4 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.
pecuniary interest financial
"except to the extent of his or its pecuniary interest therein"
mandatorily redeemed financial
"not earlier mandatorily redeemed by the Company"
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