CFO of Petrobras (PBR) reports cash-settled PETR3 phantom share awards

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA Chief Financial Officer Fernando Sabbi Melgarejo reported phantom share awards linked to PETR3 common shares. These phantom shares are granted under the Petrobras Performance Award Program, reference the PETR3 share price, and are settled in cash upon vesting.

The deferred portion of the award vests in four equal annual instalments starting on May 1, 2026, with additional phantom shares credited proportionally when the company pays dividends or interest on equity. Each instalment references 1,711.1000 PETR3 common shares under this cash-settled plan.

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^*

Melgarejo Fernando Sabbi

(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)
	Chief Financial Officer

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	1,711.1	(1)	D
Phantom Shares(1)	05/01/2027	(1)	PETR3	1,711.1	(1)	D
Phantom Shares(1)	05/01/2028	(1)	PETR3	1,711.1	(1)	D
Phantom Shares(1)	05/01/2029	(1)	PETR3	1,711.1	(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.

	Fernando Sabbi Melgarejo	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.

FAQ

What does the Petrobras (PBR) Form 3 filing for Fernando Sabbi Melgarejo show?

The Form 3 shows that Petrobras CFO Fernando Sabbi Melgarejo holds phantom share awards under the Petrobras Performance Award Program. These awards are cash-settled and reference PETR3 common shares, with vesting spread over four equal annual instalments.

How are Petrobras (PBR) phantom shares for the CFO structured?

The phantom shares are granted under the Petrobras Performance Award Program and reference PETR3 common share prices. The deferred portion vests in four equal annual instalments starting May 1, 2026, and is settled in cash rather than actual share delivery.

What PETR3 exposure is referenced in the Petrobras CFO’s phantom share awards?

Each line of the award references 1,711.1000 PETR3 common shares as the underlying security. These are phantom, cash-settled units tied to PETR3’s price, not actual shares with voting rights or direct ownership in Petrobras.

When do the Petrobras (PBR) CFO’s phantom shares vest?

The deferred portion of the Petrobras CFO’s phantom share award vests in four equal annual instalments. The exercise dates disclosed begin on May 1, 2026, and continue annually through May 1, 2029 under the performance award program.

Do Petrobras (PBR) phantom shares pay dividends to the CFO?

The phantom shares do not pay traditional dividends but are adjusted when Petrobras distributes capital. Additional phantom shares are credited proportionally whenever Petrobras pays dividends or interest on equity, increasing the phantom balance instead of cash payouts.

Are the Petrobras CFO’s phantom shares settled in stock or cash?

The phantom shares are settled in cash upon vesting rather than in PETR3 stock. Their value is referenced to PETR3’s common share price, so they mimic share performance economically without granting actual share ownership or voting rights.