Petrobras executive reports 1,687 phantom share units

Q: What does the Form 3 for PBR report about Renata Lopes' holdings?

The Form 3 reports that Chief Engineering Officer Renata Faria Rodrigues Baruzzi Lopes holds 1,687.05 phantom shares. These reflect her initial reported beneficial ownership in Petrobras’ performance-based phantom share program as of the reported date.

Q: What are Petrobras (PBR) phantom shares mentioned in this filing?

The phantom shares are granted under the Petrobras Performance Award Program. They are referenced to the PETR3 common share price, settle in cash upon vesting, and function as cash-settled, share‑price‑linked incentive units rather than actual shares.

Q: How do Petrobras (PBR) phantom shares under this program vest?

The deferred portion of the Petrobras phantom share award vests in four equal annual instalments. This structure spreads the executive’s incentive over multiple years, aligning value with continued service and the PETR3 share price over time.

Q: Do Petrobras (PBR) phantom shares receive dividends or similar credits?

Yes. The footnote states that additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity. This mirrors the economic effect of dividend payments on actual PETR3 common shares within the cash-settled award.

Q: Is there any buy or sell transaction in this PBR Form 3 filing?

No specific buy or sell transaction is reported in this Form 3. The entries are classified as holdings with an unknown transaction code, indicating disclosure of existing phantom share ownership rather than new market trades.

PETROBRAS - PETROLEO BRASILEIRO SA executive Renata Faria Rodrigues Baruzzi Lopes, the Chief Engineering Officer, filed an initial ownership report showing 1,687.05 phantom shares.

Accepted by SEC EDGAR 03/05/2026 - 09:30 AM EST

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Form Type

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA executive Renata Faria Rodrigues Baruzzi Lopes, the Chief Engineering Officer, filed an initial ownership report showing 1,687.05 phantom shares. These phantom shares are tied to the PETR3 common share price, vest in four equal annual installments, are settled in cash, and receive additional credits when dividends or interest on equity are paid.

Insider Trade Summary

Holdings reported, no transactions

Holdings

Insider Lopes Renata Faria Rodrigues Baruzzi

Role Chief Engineering Officer

Type	Security	Shares	Price	Value
Holding	Phantom Shares	--	--	--
Holding	Phantom Shares	--	--	--
Holding	Phantom Shares	--	--	--
Holding	Phantom Shares	--	--	--

Holdings: Phantom Shares — 6,748.2 contracts (Direct)

Footnotes (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.

FAQ

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

What does the Form 3 for PBR report about Renata Lopes' holdings?

The Form 3 reports that Chief Engineering Officer Renata Faria Rodrigues Baruzzi Lopes holds 1,687.05 phantom shares. These reflect her initial reported beneficial ownership in Petrobras’ performance-based phantom share program as of the reported date.

What are Petrobras (PBR) phantom shares mentioned in this filing?

The phantom shares are granted under the Petrobras Performance Award Program. They are referenced to the PETR3 common share price, settle in cash upon vesting, and function as cash-settled, share‑price‑linked incentive units rather than actual shares.

How do Petrobras (PBR) phantom shares under this program vest?

The deferred portion of the Petrobras phantom share award vests in four equal annual instalments. This structure spreads the executive’s incentive over multiple years, aligning value with continued service and the PETR3 share price over time.

Do Petrobras (PBR) phantom shares receive dividends or similar credits?

Yes. The footnote states that additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity. This mirrors the economic effect of dividend payments on actual PETR3 common shares within the cash-settled award.

Is there any buy or sell transaction in this PBR Form 3 filing?

No specific buy or sell transaction is reported in this Form 3. The entries are classified as holdings with an unknown transaction code, indicating disclosure of existing phantom share ownership rather than new market trades.

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

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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^*

Lopes Renata Faria Rodrigues Baruzzi

(Last)

(First)

(Middle)

HENRIQUE VALADARES AVE, 28

19TH FLOOR, A TOWER

(Street)

RIO DE JANEIRO

20231030

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/05/2026

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 Engineering 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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Phantom Shares⁽¹⁾	05/01/2026	⁽¹⁾	PETR3	1,687.05	⁽¹⁾	D
Phantom Shares⁽¹⁾	05/01/2027	⁽¹⁾	PETR3	1,687.05	⁽¹⁾	D
Phantom Shares⁽¹⁾	05/01/2028	⁽¹⁾	PETR3	1,687.05	⁽¹⁾	D
Phantom Shares⁽¹⁾	05/01/2029	⁽¹⁾	PETR3	1,687.05	⁽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.

	Renata Faria Rodrigues Baruzzi Lopes	03/05/2026
	** 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.

Source: View Original Filing on SEC EDGAR