Gerdau senior manager reports equity holdings

GERDAU S.A. senior manager Leandro Miana Telles filed an initial ownership report detailing his equity-based holdings.

Rhea-AI Filing Summary

GERDAU S.A. senior manager Leandro Miana Telles filed an initial ownership report detailing his equity-based holdings. The Form 3 shows direct ownership of preferred shares and several grants of restricted stock units that can convert into preferred shares at exercise prices stated in Brazilian reais.

The restricted stock units are tied to underlying preferred shares in blocks of 3,570, 4,117, 4,038 and 27,240 shares, scheduled to vest on February 12, 2027, February 12, 2028, February 12, 2029 and February 25, 2029. He also holds 18,160 preferred shares directly. The filing reflects current holdings rather than new market transactions.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Telles Leandro Miana

Role Insider

Type	Security	Shares	Price	Value
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Preferred shares	--	--	--

Holdings After Transaction: Restricted Stock Units — 38,965 contracts (Direct); Preferred shares — 18,160 shares (Direct)

Footnotes (4)

1. F1. Restricted stock units vest on February 12, 2027. Exercise price denominated in Brazilian reais (R$).
2. F2. Restricted stock units vest on February 12, 2028. Exercise price denominated in Brazilian reais (R$).
3. F3. Restricted stock units vest on February 12, 2029. Exercise price denominated in Brazilian reais (R$).
4. F4. Restricted stock units vest on February 25, 2029. Exercise price denominated in Brazilian reais (R$).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the GERDAU S.A. (GGB) Form 3 for Leandro Miana Telles show?

The Form 3 shows senior manager Leandro Miana Telles’ existing holdings in GERDAU S.A., including direct preferred shares and multiple restricted stock unit grants. It is an initial ownership report, reflecting current positions rather than reporting new market transactions or trades.

What restricted stock units does Leandro Miana Telles hold in GERDAU S.A. (GGB)?

He holds several restricted stock unit awards over GERDAU preferred shares, each with a specified exercise price in Brazilian reais. The awards are linked to underlying blocks of 3,570, 4,117, 4,038 and 27,240 preferred shares, providing potential future equity upon vesting and settlement.

When do the GERDAU S.A. (GGB) restricted stock units for Leandro Miana Telles vest?

The restricted stock units vest in stages: on February 12, 2027, February 12, 2028, February 12, 2029 and February 25, 2029. These dates define when the awards can settle into preferred shares, subject to applicable plan terms and continued eligibility.

Does the GERDAU S.A. (GGB) Form 3 show any stock purchases or sales by Leandro Miana Telles?

The Form 3 does not show open-market purchases or sales. It lists holdings of preferred shares and restricted stock units as of the reporting date, with transaction codes marked as unknown and categorized as holdings rather than buy or sell transactions.

What direct share ownership does Leandro Miana Telles report in GERDAU S.A. (GGB)?

He reports direct ownership of 18,160 GERDAU preferred shares. This is in addition to his restricted stock unit awards, which reference underlying preferred shares and vest over several future dates, forming part of his overall equity exposure to the company.

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

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Accepted by SEC EDGAR 03/18/2026 - 09:05 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
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hours per response:			0.5

1. Name and Address of Reporting Person^*

Telles Leandro Miana

(Last) (First) (Middle)

AVENUE DOUTORA RUTH DE CARDOSO, 8501

8TH FLOOR, PINHEIROS

(Street)

SAO PAULO SAO PAULO 05425-070

(City) (State) (Zip)

BRAZIL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026

3. Issuer Name and Ticker or Trading Symbol
GERDAU S.A. [ GGB ]

3a. Foreign Trading Symbol
[GGBR]

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Senior Management

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Preferred shares	18,160	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	02/12/2027	Preferred shares	3,570	$19.5	D
Restricted Stock Units	(2)	02/12/2028	Preferred shares	4,117	$18.32	D
Restricted Stock Units	(3)	02/12/2029	Preferred shares	4,038	$20.83	D
Restricted Stock Units	(4)	02/25/2029	Preferred shares	27,240	$20.83	D

Explanation of Responses:

1. Restricted stock units vest on February 12, 2027. Exercise price denominated in Brazilian reais (R$).

2. Restricted stock units vest on February 12, 2028. Exercise price denominated in Brazilian reais (R$).

3. Restricted stock units vest on February 12, 2029. Exercise price denominated in Brazilian reais (R$).

4. Restricted stock units vest on February 25, 2029. Exercise price denominated in Brazilian reais (R$).

	Leandro Miana Telles	03/17/2026
	** 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 5 (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 3: SEC 1473 (03-26)