AXIA Energia director reports 1.26M share conversion
Rhea-AI Filing Summary
AXIA Energia S.A. director Pedro Batista de Lima Filho reported that on September 16, 2026, Class "C" preferred shares held through managed accounts were automatically converted into Common Shares in connection with a mandatory redemption of 19.61% of outstanding Class "C" preferred shares. A total of 1,260,542 Class "C" preferred shares were converted into the same number of Common Shares at a 1:1 ratio, with 925,503 shares linked to Maliko Investments LLC and 335,039 shares linked to Manuka Investments LLC. These positions are held indirectly through portfolios managed by Radar Gestora de Recursos Ltda., and both the funds and Mr. Filho disclaim beneficial ownership except to the extent of any pecuniary interest. After these transactions, indirect derivative positions in Class "C" preferred shares remain outstanding representing underlying Common Shares of 66,311; 87,609; 1,574,500; and 1,574,500, and Mr. Filho also reports 51,115 Common Shares held directly. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,260,542 shares exercised/converted
Exercise
13 txns
Insider
Batista de Lima Filho Pedro
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class "C" Preferred Shares F8, F1, F2 | 925,503 | $0.00 | $0.00 |
| Conversion | Class "C" Preferred Shares F8, F1, F3 | 335,039 | $0.00 | $0.00 |
| Grant/Award | Common Shares F1, F2 | 925,503 | $0.00 | $0.00 |
| Grant/Award | Common Shares F1, F3 | 335,039 | $0.00 | $0.00 |
| holding | Class "C" Preferred Shares F8, F4 | -- | -- | -- |
| holding | Class "C" Preferred Shares F8, F5 | -- | -- | -- |
| holding | Class "C" Preferred Shares F8, F6 | -- | -- | -- |
| holding | Class "C" Preferred Shares F8, F7 | -- | -- | -- |
| holding | Common Shares F4 | -- | -- | -- |
| holding | Common Shares F5 | -- | -- | -- |
| holding | Common Shares F6 | -- | -- | -- |
| holding | Common Shares F7 | -- | -- | -- |
| holding | Common Shares | -- | -- | -- |
Holdings After Transaction:
Class "C" Preferred Shares — 8,607,446 contracts for 3,302,920 underlying shares (Indirect, By managed account);
Common Shares — 17,567,253 shares (Indirect, By managed account);
Common Shares — 51,115 shares (Direct)
Footnotes (8)
- F1. On September 16, 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 19.61% of AXIA Energia S.A. (the "Company")'s outstanding PNC Shares announced on September 3, 2026 and pursuant to the terms of the Company's bylaws.
- 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 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.
- 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.
- 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.
- 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.
- F8. 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: 1,260,542 shares
Mandatory redemption percentage: 19.61%
Shares converted via Maliko-managed account: 925,503 shares
+5 more
8 metrics
Class "C" preferred shares converted
1,260,542 shares
Total Class "C" preferred shares converted into Common Shares on September 16, 2026
Mandatory redemption percentage
19.61%
Portion of outstanding Class "C" preferred shares subject to mandatory redemption
Shares converted via Maliko-managed account
925,503 shares
Class "C" preferred shares converted into Common Shares through Maliko-related managed account
Shares converted via Manuka-managed account
335,039 shares
Class "C" preferred shares converted into Common Shares through Manuka-related managed account
Conversion ratio
1:1
Automatic conversion of Class "C" preferred shares into Common Shares under bylaws
Scheduled annual conversion portion
4% per year
Of originally issued Class "C" preferred shares in each fiscal year 2026–2030
Direct Common Shares held
51,115 shares
Common Shares reported as held directly after transactions
Largest remaining derivative block
1,574,500 underlying shares
Underlying Common Shares for each of two remaining Class "C" preferred positions, held indirectly
Key Terms
mandatory redemption, Class "C" preferred shares, beneficial ownership, pecuniary interest, +2 more
6 terms
mandatory redemption financial
"in connection with the mandatory redemption of 19.61% of AXIA Energia S.A."
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.
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"
performance-based compensation financial
"receives a performance-based compensation in his capacity as a partner of Radar Gestora"
Pay that rises or falls with measurable results, where employees or executives receive bonuses, stock, or other rewards only if specific performance goals are met. Investors care because it aligns the interests of managers with owners—like paying a driver by miles driven rather than time—so it can encourage stronger company results, affect future earnings and risk-taking, and signal confidence (or potential incentives for short-term decisions).
automatic conversion financial
"PNC Shares shall be automatically converted into Common Shares, assuming such PNC"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did AXIAY’s director report on September 16, 2026?
The director reported that 1,260,542 Class "C" preferred shares held through managed accounts were converted into 1,260,542 Common Shares of AXIA Energia S.A. on September 16, 2026, in connection with a mandatory redemption of a portion of that preferred class.
What AXIAY holdings does the director report after these transactions?
The director reports 51,115 Common Shares held directly and indirect derivative positions in Class "C" preferred shares representing underlying Common Shares of 66,311; 87,609; 1,574,500; and 1,574,500. All indirect holdings are through portfolios managed by Radar Gestora de Recursos Ltda.
Were the AXIAY insider transactions made under a Rule 10b5-1 trading plan?
No. The filing indicates that the Rule 10b5-1 checkbox is not marked as an affirmatively adopted plan; no Rule 10b5-1 trading plan is reported for these September 16, 2026 conversion transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
