Petrobras (PBR) CEO discloses cash-settled phantom share awards

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA CEO Magda Maria de Regina Chambriard filed an initial ownership report showing holdings of phantom shares under the Petrobras Performance Award Program. These phantom shares are referenced to the PETR3 common share price and are settled in cash when they vest.

The deferred portion of this award vests in four equal annual instalments starting on May 1, 2026, with additional phantom shares credited proportionally whenever the company pays dividends or interest on equity. This filing outlines compensation-linked phantom share units rather than open-market share purchases or sales.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Chambriard Magda Maria de Regina

Role CEO

Type	Security	Shares	Price	Value
holding	Phantom Shares	--	--	--
holding	Phantom Shares	--	--	--
holding	Phantom Shares	--	--	--
holding	Phantom Shares	--	--	--

Holdings After Transaction: Phantom Shares — 9,178.08 shares (Direct)

Footnotes (1)

1. F1. Phantom shares are granted pursuant to the Petrobras Performance Award Program. The phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting. The deferred portion of the award vests in four equal annual instalments. Additional phantom shares are credited proportionally upon the payment of dividends or interest on equity by the Company.

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Accepted by SEC EDGAR 03/13/2026 - 09:27 AM Learn about SEC filing dates

FAQ

What did Petrobras (PBR) CEO report in this Form 3 filing?

The CEO reported holdings of phantom shares granted under the Petrobras Performance Award Program. These units track the PETR3 share price and are settled in cash upon vesting, reflecting compensation rather than direct ownership of Petrobras common shares.

How do Petrobras (PBR) phantom shares for the CEO vest over time?

The deferred portion of the CEO’s phantom share award vests in four equal annual instalments. The filing lists vesting dates beginning on May 1, 2026, with additional instalments scheduled annually through later years under the same performance award framework.

Are Petrobras (PBR) CEO phantom shares settled in stock or cash?

The phantom shares are settled in cash when they vest. Their value is referenced to the PETR3 common share price, so the payout depends on the share price at vesting, but no actual Petrobras common shares are delivered through this arrangement.

How are dividends treated in Petrobras (PBR) phantom share awards?

Additional phantom shares are credited proportionally whenever Petrobras pays dividends or interest on equity. This means the phantom account grows over time in line with shareholder distributions, enhancing the cash value ultimately paid at vesting to the CEO.

Does this Petrobras (PBR) Form 3 show any CEO share purchases or sales?

The Form 3 reflects holdings of phantom shares as part of a performance award program. It does not report open-market purchases or sales of Petrobras common stock, focusing instead on compensation-related, cash-settled phantom share units referenced to PETR3.

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^*

Chambriard Magda Maria de Regina

(Last) (First) (Middle)

RUA HENRIQUE VALADARES 28

19 TH FLOOR, A TOWER

(Street)

RIO DE JANEIRO D5 20231-030

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/13/2026

3. Issuer Name and Ticker or Trading Symbol
PETROBRAS - PETROLEO BRASILEIRO SA [ PBR ]

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

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

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

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)

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
Phantom Shares(1)	05/01/2026	(1)	PETR3	2,294.52	(1)	D
Phantom Shares(1)	05/01/2027	(1)	PETR3	2,294.52	(1)	D
Phantom Shares(1)	05/01/2028	(1)	PETR3	2,294.52	(1)	D
Phantom Shares(1)	05/01/2029	(1)	PETR3	2,294.52	(1)	D

Explanation of Responses:

1. Phantom shares are granted pursuant to the Petrobras Performance Award Program. The phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting. The deferred portion of the award vests in four equal annual instalments. Additional phantom shares are credited proportionally upon the payment of dividends or interest on equity by the Company.

	Magda Maria de Regina Chambriard	03/13/2026
	** 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.