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AXIA Energia (AXIAY) director trades common and Class C preferred

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(Very High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

For AXIA Energia S.A. (AXIAY), director Pedro Batista de Lima Filho reported multiple indirect trades on August 19, 2026 through managed accounts linked to several investment vehicles. He indirectly purchased 315,100 Class "C" preferred shares at a footnote-qualified weighted average price of about $9.69 per share, each convertible into one common share under the company’s bylaws over 2026–2031. On the same date, he indirectly sold 313,000 common shares at a weighted average price of about $9.76 per share. Following these trades, he also reported 51,115 common shares held directly. Footnotes state the prices are BRL-weighted averages converted to USD and that the accounts are managed by Radar Gestora for entities such as Maliko and Manuka; both those entities and Mr. Filho disclaim beneficial ownership beyond their pecuniary interest.

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Insider Batista de Lima Filho Pedro
Role Director
Bought 315,100 shs ($3.05M)
Sold 313,000 shs ($3.05M)
Type Security Shares Price Value
Purchase Class "C" Preferred Shares F8, F9, F2 136,500 $9.69 $1.32M
Purchase Class "C" Preferred Shares F8, F9, F3 73,900 $9.69 $716K
Purchase Class "C" Preferred Shares F8, F9, F4 13,900 $9.69 $135K
Purchase Class "C" Preferred Shares F8, F9, F5 8,100 $9.69 $78K
Purchase Class "C" Preferred Shares F8, F9, F6 39,700 $9.69 $385K
Purchase Class "C" Preferred Shares F8, F9, F7 43,000 $9.69 $417K
Sale Common Shares F1, F2 135,700 $9.76 $1.32M
Sale Common Shares F1, F3 73,400 $9.76 $716K
Sale Common Shares F1, F4 13,800 $9.76 $135K
Sale Common Shares F1, F5 8,000 $9.76 $78K
Sale Common Shares F1, F6 39,400 $9.76 $385K
Sale Common Shares F1, F7 42,700 $9.76 $417K
holding Common Shares -- -- --
Holdings After Transaction: Class "C" Preferred Shares — 9,926,829 shares (Indirect, By managed account); Common Shares — 4,869,284 shares (Indirect, By managed account); Common Shares — 51,115 shares (Direct)
Footnotes (9)
  1. 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, $50.49 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 June 30, 2026 (the most recently published quarterly rate at the time of filing), at a rate of 5.1740 BRL per USD (fiscaldata.treasury.gov). Brokerage commissions and other costs of execution, if any, are excluded from the reported price.
  2. 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.
  3. 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.
  4. F4. 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.
  5. F5. 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.
  6. F6. 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.
  7. F7. 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.
  8. F8. 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.
  9. F9. 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, $50.16 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 June 30, 2026 (the most recently published quarterly rate at the time of filing), at a rate of 5.1740 BRL per USD (fiscaldata.treasury.gov). Brokerage commissions and other costs of execution, if any, are excluded from the reported price.
Indirect purchases of Class "C" preferred shares 315,100 shares Total Class "C" preferred shares purchased indirectly on August 19, 2026
Indirect sales of common shares 313,000 shares Total common shares sold indirectly on August 19, 2026
Weighted average sale price (common shares) $9.76 per share Weighted average price for reported common share sales, converted from BRL, excluding commissions
Weighted average purchase price (Class "C" preferred) $9.69 per share Weighted average price for reported preferred share purchases, converted from BRL, excluding commissions
Net share change across reported buy/sell 2,100 shares Net of 315,100 shares bought and 313,000 shares sold (net-buy direction)
Direct common share holdings 51,115 shares Common shares held directly by the insider following the reported transactions
Automatic conversion schedule per year 4% of originally issued PNC Shares Portion of total Class "C" preferred shares converting each fiscal year 2026–2030
Final conversion year for remaining PNC Shares 2031 Year in which all remaining Class "C" preferred shares automatically convert into common shares
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"
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.
pecuniary interest financial
"disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest"
automatic conversion financial
"preferred shares shall be automatically converted into Common Shares, assuming such PNC Shares"
Class "C" preferred shares financial
"the class "C" preferred shares ("PNC Shares") shall be automatically converted"

FAQ

What insider transactions did AXIAY director Pedro Batista de Lima Filho report?
He reported indirect purchases of 315,100 Class "C" preferred shares and indirect sales of 313,000 common shares of AXIA Energia S.A. on August 19, 2026, plus 51,115 common shares held directly after the transactions.

At what prices were the AXIAY shares traded in this Form 4?
The common share sales used a weighted average price of $9.76 per share, and the Class "C" preferred share purchases used a weighted average price of $9.69 per share, both derived from BRL prices converted to USD, excluding commissions.

How many AXIAY Class "C" preferred shares did the insider buy?
He indirectly bought a total of 315,100 Class "C" preferred shares, each corresponding to one common share under the company’s automatic 1:1 conversion mechanism described in the bylaws and referenced in the filing’s footnotes.

How many AXIAY common shares did the insider sell?
He indirectly sold a total of 313,000 common shares of AXIA Energia S.A. on August 19, 2026, through managed accounts, at a weighted average price of $9.76 per share before commissions and other execution costs.

What is the insider’s direct AXIAY shareholding after these transactions?
After the reported transactions, he listed a direct holding of 51,115 common shares of AXIA Energia S.A. This direct position is reported separately from the various indirect holdings through managed accounts.

How are the AXIAY Class "C" preferred shares expected to convert?
Footnotes state that Class "C" preferred shares automatically convert into common shares at a 1:1 ratio, with 4% of the originally issued preferred shares converting each fiscal year from 2026 to 2030 and all remaining shares converting in 2031, absent earlier mandatory redemption.

Do the managed accounts imply full beneficial ownership of AXIAY shares by the insider?
No. Footnotes explain the shares are held in accounts managed by Radar Gestora for entities such as Maliko and Manuka, and that both those entities and Mr. Filho disclaim beneficial ownership of the reported securities except for their pecuniary interest.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
Estimated average burden
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*
Batista de Lima Filho Pedro
(Last)(First)(Middle)
AVENIDA GRACA ARANHA, NO. 26
CENTRO
(Street)
RIO DE JANEIRO20030-000
(City)(State)(Zip)
BRAZIL
(Country)		2. Issuer Name and Ticker or Trading Symbol
AXIA Energia S.A. [ AXIA3 ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
[AXIA7]
3. Date of Earliest Transaction (Month/Day/Year)
08/19/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Shares08/19/2026S135,700D$9.76(1)13,814,919IBy managed account(2)
Common Shares08/19/2026S73,400D$9.76(1)6,913,717IBy managed account(3)
Common Shares08/19/2026S13,800D$9.76(1)350,885IBy managed account(4)
Common Shares08/19/2026S8,000D$9.76(1)474,109IBy managed account(5)
Common Shares08/19/2026S39,400D$9.76(1)4,482,819IBy managed account(6)
Common Shares08/19/2026S42,700D$9.76(1)4,869,284IBy managed account(7)
Common Shares51,115D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Class "C" Preferred Shares(8)08/19/2026P136,500 (8) (8)Common Shares136,500$9.69(9)4,953,451IBy managed account(2)
Class "C" Preferred Shares(8)08/19/2026P73,900 (8) (8)Common Shares73,900$9.69(9)1,759,138IBy managed account(3)
Class "C" Preferred Shares(8)08/19/2026P13,900 (8) (8)Common Shares13,900$9.69(9)77,540IBy managed account(4)
Class "C" Preferred Shares(8)08/19/2026P8,100 (8) (8)Common Shares8,100$9.69(9)89,509IBy managed account(5)
Class "C" Preferred Shares(8)08/19/2026P39,700 (8) (8)Common Shares39,700$9.69(9)1,601,153IBy managed account(6)
Class "C" Preferred Shares(8)08/19/2026P43,000 (8) (8)Common Shares43,000$9.69(9)1,446,038IBy managed account(7)
Explanation of Responses:
1. 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, $50.49 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 June 30, 2026 (the most recently published quarterly rate at the time of filing), at a rate of 5.1740 BRL per USD (fiscaldata.treasury.gov). Brokerage commissions and other costs of execution, if any, are excluded from the reported price.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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, $50.16 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 June 30, 2026 (the most recently published quarterly rate at the time of filing), at a rate of 5.1740 BRL per USD (fiscaldata.treasury.gov). Brokerage commissions and other costs of execution, if any, are excluded from the reported price.
Remarks:
/s/ Pedro Batista de Lima Filho08/21/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR