Gerdau CEO reports initial RSU and share holdings

Rhea-AI Filing Summary

GERDAU S.A. CEO and board member Gustavo Werneck filed an initial ownership report showing his equity-based holdings in the company. He directly holds preferred shares and several tranches of restricted stock units that are each linked to underlying preferred shares.

The report lists restricted stock units tied to 86,455 underlying preferred shares with a R$19.5000 exercise price that vest on February 12, 2027, 152,887 underlying preferred shares at R$18.9700 vesting on September 1, 2027, 92,024 underlying preferred shares at R$18.3200 vesting on February 12, 2028, and 86,598 underlying preferred shares at R$20.8300 vesting on February 12, 2029. It also shows 188,080 preferred shares held directly. The filing records holdings only and does not show any new purchases or sales.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Da Cunha Gustavo Werneck

Role CEO and Board Member

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 — 417,964 contracts (Direct); Preferred shares — 188,080 shares (Direct)

Footnotes (4)

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

FAQ

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

What does Gerdau (GGB) CEO Gustavo Werneck report in this Form 3?

He reports his existing equity holdings in Gerdau, including preferred shares and multiple tranches of restricted stock units. The filing establishes his baseline ownership as CEO and board member, without indicating any recent purchases, sales, or option exercises.

How many Gerdau (GGB) preferred shares does Gustavo Werneck hold directly?

The filing shows Gustavo Werneck directly holds 188,080 preferred shares of Gerdau S.A. This position is separate from his restricted stock units and reflects his current direct stake in the company’s preferred equity as reported in the Form 3.

What restricted stock unit grants are disclosed for Gerdau (GGB) CEO Gustavo Werneck?

He holds restricted stock units linked to 86,455, 152,887, 92,024, and 86,598 underlying preferred shares. Each grant has its own exercise price in Brazilian reais and specified vesting dates between February 2027 and February 2029, creating a staggered vesting schedule.

When do Gustavo Werneck’s Gerdau (GGB) restricted stock units vest?

The units vest on four separate dates: February 12, 2027, September 1, 2027, February 12, 2028, and February 12, 2029. These vesting dates structure the timing of when the CEO may receive underlying preferred shares, subject to plan terms.

Are there any Gerdau (GGB) share purchases or sales in this Form 3?

No, the Form 3 does not show any share purchases or sales. It records existing holdings in preferred shares and restricted stock units only, serving as an initial ownership snapshot rather than documenting new market transactions or option exercises.

In what currency are Gustavo Werneck’s Gerdau (GGB) RSU exercise prices denominated?

The exercise prices for Gustavo Werneck’s restricted stock units are denominated in Brazilian reais (R$). This reflects Gerdau’s home-market currency and applies to each RSU tranche that is linked to underlying preferred shares in the company.

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

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Accepted by SEC EDGAR 03/18/2026 - 09:02 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
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Da Cunha Gustavo Werneck

(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
X	Officer (give title below)		Other (specify below)
	CEO and Board Member

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	188,080	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	86,455	$19.5	D
Restricted Stock Units	(2)	09/01/2027	Preferred shares	152,887	$18.97	D
Restricted Stock Units	(3)	02/12/2028	Preferred shares	92,024	$18.32	D
Restricted Stock Units	(4)	02/12/2029	Preferred shares	86,598	$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 September 1, 2027. Exercise price denominated in Brazilian reais (R$).

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

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

	Gustavo Werneck Da Cunha	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)