Eletrobras director receives 10,639 RSU award

Eletrobras – Brazilian Electric Power Co. director Felipe Villela Dias reported an acquisition of 10,639 restricted stock units (RSUs), bringing his direct RSU holdings to 51,115.

Rhea-AI Filing Summary

Eletrobras – Brazilian Electric Power Co. director Felipe Villela Dias reported an acquisition of 10,639 restricted stock units (RSUs), bringing his direct RSU holdings to 51,115. Each RSU equals one common share and was granted under the company’s restricted share-based compensation program for the Board of Directors.

The filing notes that the RSU amount reflects an adjustment under his award agreement following the company’s December 2025 bonus stock issuance that created Class “C” preferred shares. The director paid no additional consideration for this adjustment, underscoring that this is a compensation-related, non-cash change rather than a market purchase.

Insider Trade Summary

Grant/Award: 10,639 shares

Grant/Award 1 txn

Insider Villela Dias Felipe

Role Director

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

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

Footnotes (2)

1. F1. 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. F2. 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.

FAQ

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What insider transaction did Eletrobras (EBR) report for director Felipe Villela Dias?

Eletrobras reported that director Felipe Villela Dias acquired 10,639 restricted stock units. These RSUs were issued under the company’s restricted share-based compensation program for its Board of Directors, representing a routine equity-based compensation event rather than an open-market trade.

How many restricted stock units does the Eletrobras (EBR) director hold after this Form 4 filing?

Following the reported transaction, director Felipe Villela Dias holds 51,115 restricted stock units. Each RSU is economically equivalent to one common share and will be settled in common shares on a 1:1 basis, providing equity-linked compensation aligned with shareholder interests.

What does each restricted stock unit represent in the Eletrobras (EBR) Form 4 filing?

Each restricted stock unit is the economic equivalent of one Eletrobras common share. The RSUs are settled in common shares on a 1:1 basis and were issued under the company’s restricted share-based compensation program specifically reserved for members of the Board of Directors.

Why was the number of RSUs adjusted in the Eletrobras (EBR) director’s award?

The number of RSUs was adjusted under the director’s RSU award agreement due to Eletrobras’ December 2025 bonus stock issuance. That corporate action, which created Class "C" preferred shares, required an adjustment so the equity award continued to reflect the revised capital structure.

Did the Eletrobras (EBR) director pay cash for the RSU adjustment reported on Form 4?

No, the director paid no additional consideration for the RSU adjustment. The filing states the revised RSU count resulted solely from terms in the award agreement linked to the December 2025 bonus stock issuance, making this a non-cash, compensation-related change in his equity holdings.

Are the RSUs in this Eletrobras (EBR) filing available to all employees or just directors?

These RSUs are reserved specifically for the Board of Directors. The filing explains they were issued under Eletrobras’ restricted share-based compensation program and clarifies that this grant type is designated for board members rather than being a broad-based employee equity award.

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Accepted by SEC EDGAR 03/23/2026 - 09:43 AM Learn about SEC filing dates

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
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^*

Villela Dias Felipe

(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/ Felipe Villela Dias	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)