AXIA Energia accounts convert 1.14M preferred shares
The report also lists 11,000 common shares sold through managed accounts at a weighted-average $11.50 per share.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
AXIA Energia S.A. director Pedro Batista de Lima Filho reported that managed accounts associated with Maliko, Manuka, Xingo, Radar, Infrad and Tucurui converted 1,139,719 Class C preferred shares into common shares on October 20, 2026. The conversions were connected with the mandatory redemption of 17.38% of the company’s outstanding PNC Shares, announced October 7, 2026. The footnotes state that the accounts and Mr. Filho disclaim beneficial ownership except to the extent of their pecuniary interest.
On October 19, accounts associated with Maliko, Manuka, Xingo, Radar and Infrad sold 11,000 common shares at a weighted-average $11.50 per share, converted from BRL 59.88 at 5.2050 BRL per USD; reported prices exclude brokerage commissions and other execution costs. A separate direct holding entry lists 51,115 common shares dated October 19, 2026. No Rule 10b5-1 plan is reported.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
18 txns
Insider
Batista de Lima Filho Pedro
Role
Director
Sold
11,000 shs ($127K)
Approx. gross sale proceeds
$127K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class "C" Preferred Shares F9, F7, F2 | 558,408 | $0.00 | $0.00 |
| Conversion | Class "C" Preferred Shares F9, F7, F3 | 206,944 | $0.00 | $0.00 |
| Conversion | Class "C" Preferred Shares F9, F7, F8 | 7,791 | $0.00 | $0.00 |
| Conversion | Class "C" Preferred Shares F9, F7, F4 | 10,301 | $0.00 | $0.00 |
| Conversion | Class "C" Preferred Shares F9, F7, F5 | 185,732 | $0.00 | $0.00 |
| Conversion | Class "C" Preferred Shares F9, F7, F6 | 170,543 | $0.00 | $0.00 |
| Grant/Award | Common Shares F7, F2 | 558,408 | $0.00 | $0.00 |
| Grant/Award | Common Shares F7, F3 | 206,944 | $0.00 | $0.00 |
| Grant/Award | Common Shares F7, F8 | 7,791 | $0.00 | $0.00 |
| Grant/Award | Common Shares F7, F4 | 10,301 | $0.00 | $0.00 |
| Grant/Award | Common Shares F7, F5 | 185,732 | $0.00 | $0.00 |
| Grant/Award | Common Shares F7, F6 | 170,543 | $0.00 | $0.00 |
| Sale | Common Shares F1, F2 | 6,200 | $11.50 | $71K |
| Sale | Common Shares F1, F3 | 1,400 | $11.50 | $16K |
| Sale | Common Shares F1, F4 | 100 | $11.50 | $1K |
| Sale | Common Shares F1, F5 | 2,100 | $11.50 | $24K |
| Sale | Common Shares F1, F6 | 1,200 | $11.50 | $14K |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Class "C" Preferred Shares — 5,480,762 contracts (Indirect, By managed account);
Common Shares — 4,987,574 shares (Indirect, By managed account);
Common Shares — 51,115 shares (Direct)
Footnotes (9)
- 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, $59.88 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. 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.
- F5. 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.
- F6. 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.
- F7. On October 20, 2026, certain of the class "C" preferred shares ("PNC Shares") previously reported herein were converted into Common Shares, in connection with the mandatory redemption of 17.38% of AXIA Energia S.A. (the "Company")'s outstanding PNC Shares announced on October 7, 2026 and pursuant to the terms of the Company's bylaws.
- F8. 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.
- F9. Pursuant to Article 11 of the Bylaws of the Company, the 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.
Key Figures
Class C preferred shares converted: 1,139,719 shares
Common shares sold: 11,000 shares
Weighted-average sale price: $11.50 per share
+4 more
7 metrics
Class C preferred shares converted
1,139,719 shares
Managed-account conversions on October 20, 2026
Common shares sold
11,000 shares
Managed-account sales on October 19, 2026
Weighted-average sale price
$11.50 per share
USD price reported for the October 19, 2026 sales
Weighted-average sale price
BRL 59.88 per share
Local-currency price reported in the sale footnote
Exchange rate
5.2050 BRL per USD
Rate used to convert the reported weighted-average price
PNC Shares subject to mandatory redemption
17.38%
Mandatory redemption announced October 7, 2026
Direct common-share holding
51,115 shares
Holding entry dated October 19, 2026
Key Terms
weighted average price, mandatory redemption, pecuniary interest, PNC Shares
4 terms
weighted average price financial
"weighted average price, $59.88 Brazilian reals ("BRL") per share"
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.
mandatory redemption financial
"mandatory redemption of 17.38% of AXIA Energia S.A.'s outstanding PNC Shares"
Mandatory redemption is a contract clause that forces an issuer to buy back a security—such as a bond, preferred share, or convertible—under specified conditions or at scheduled times. For investors it matters because it determines when and how they will get their principal or liquidation value returned, affects the timing of income, and can change the total number of outstanding securities, similar to a store being required to repurchase a product on a set schedule.
pecuniary interest regulatory
"disclaims beneficial ownership ... except to the extent of his or its pecuniary interest therein"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
Which entities were linked to AXIAY’s reported transactions?
The named accounts were Maliko Investments LLC - Banco BTG Pactual S/A, Manuka Investments LLC - Banco BTG Pactual S/A, Xingo Master Fundo de Investimento Financeiro de Acoes, Radar Master Fundo de Investimento Financeiro em Acoes, Infrad Master Fundo de Investimento Financeiro em Acoes and Tucurui Master Fundo de Investimento Financeiro em Acoes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
