How do Petrobras phantom share awards for Claudio Schlosser vest?

The filing states the deferred portion of phantom share awards vests in four equal annual installments . For Schlosser, different tranches show exercise dates from May 2025 through May 2029 , defining when each part becomes payable in cash based on PETR3’s price.

Petrobras (NYSE: PBR) CCO discloses phantom share awards and PETR4 stake

Q: What does the Petrobras (PBR) Form 3 filing for Claudio Schlosser show?

The Form 3 reports Chief Commercial Officer Claudio Romeo Schlosser’s existing equity-linked interests in Petrobras. It lists his direct holding of 45,306 PETR4 shares and several tranches of phantom shares tied to PETR3, granted under the company’s performance award program.

Q: How many Petrobras PETR4 shares does Claudio Schlosser hold in this Form 3?

Claudio Romeo Schlosser is shown holding 45,306 PETR4 shares directly. This position appears alongside multiple phantom share awards referenced to PETR3 common shares, reflecting his compensation-related exposure to Petrobras rather than reporting new open-market purchases or sales.

Q: What are phantom shares in Petrobras (PBR) Performance Award Program?

Petrobras phantom shares are awards granted under the Petrobras Performance Award Program. They are referenced to the PETR3 common share price and are settled in cash upon vesting , rather than delivering actual shares, giving executives economic exposure to share performance.

Q: Are Petrobras phantom shares settled in stock or cash for Claudio Schlosser?

According to the footnote, the phantom shares are settled in cash upon vesting , not in Petrobras stock. Their value is tied to the PETR3 common share price , so Schlosser receives a cash amount that tracks share performance at each vesting date.

Q: Do Claudio Schlosser’s Petrobras phantom shares receive dividend equivalents?

Yes. The footnote explains that additional phantom shares are credited proportionally whenever Petrobras pays dividends or interest on equity . This mechanism mirrors the economic effect of cash distributions, increasing the phantom share balance tied to PETR3 over time.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA filed an initial ownership report for Chief Commercial Officer Claudio Romeo Schlosser. The Form 3 shows his existing compensation-linked positions rather than new market trades. He holds 45,306 PETR4 shares directly, along with several tranches of Phantom Shares referenced to PETR3 common shares.

The footnote explains these phantom shares are granted under the Petrobras Performance Award Program, are tied to the PETR3 share price, and are settled in cash upon vesting. The deferred portions vest in four equal annual installments starting on exercise dates between May 2025 and May 2029, and additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Schlosser Claudio Romeo

Role Chief Commercial Officer

Type	Security	Shares	Price	Value
holding	Phantom Shares	--	--	--
holding	Phantom Shares	--	--	--
holding	Phantom Shares	--	--	--
holding	Phantom Shares	--	--	--
holding	Phantom Shares	--	--	--
holding	PETR4	--	--	--

Holdings After Transaction: Phantom Shares — 26,327.21 shares (Direct); PETR4 — 45,306 shares (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.

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Accepted by SEC EDGAR 03/17/2026 - 04:42 PM

FAQ

What does the Petrobras (PBR) Form 3 filing for Claudio Schlosser show?

The Form 3 reports Chief Commercial Officer Claudio Romeo Schlosser’s existing equity-linked interests in Petrobras. It lists his direct holding of 45,306 PETR4 shares and several tranches of phantom shares tied to PETR3, granted under the company’s performance award program.

How many Petrobras PETR4 shares does Claudio Schlosser hold in this Form 3?

Claudio Romeo Schlosser is shown holding 45,306 PETR4 shares directly. This position appears alongside multiple phantom share awards referenced to PETR3 common shares, reflecting his compensation-related exposure to Petrobras rather than reporting new open-market purchases or sales.

What are phantom shares in Petrobras (PBR) Performance Award Program?

Petrobras phantom shares are awards granted under the Petrobras Performance Award Program. They are referenced to the PETR3 common share price and are settled in cash upon vesting, rather than delivering actual shares, giving executives economic exposure to share performance.

Are Petrobras phantom shares settled in stock or cash for Claudio Schlosser?

According to the footnote, the phantom shares are settled in cash upon vesting, not in Petrobras stock. Their value is tied to the PETR3 common share price, so Schlosser receives a cash amount that tracks share performance at each vesting date.

Do Claudio Schlosser’s Petrobras phantom shares receive dividend equivalents?

Yes. The footnote explains that additional phantom shares are credited proportionally whenever Petrobras pays dividends or interest on equity. This mechanism mirrors the economic effect of cash distributions, increasing the phantom share balance tied to PETR3 over time.

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^*

Schlosser Claudio Romeo

(Last)

(First)

(Middle)

28, HENRIQUE VALADARES AVE

19TH FLOOR, A TOWER

(Street)

RIO DE JANEIRO

20231-030

(City)

(State)

(Zip)

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

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 Commercial 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)
PETR4	45,306	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)
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⁾	05/01/2025	⁽¹⁾	PETR3	3,211.15	⁽¹⁾	D
Phantom Shares⁽¹⁾	05/01/2026	⁽¹⁾	PETR3	6,581.8	⁽¹⁾	D
Phantom Shares⁽¹⁾	05/01/2027	⁽¹⁾	PETR3	6,581.8	⁽¹⁾	D
Phantom Shares⁽¹⁾	05/01/2028	⁽¹⁾	PETR3	6,581.8	⁽¹⁾	D
Phantom Shares⁽¹⁾	05/01/2029	⁽¹⁾	PETR3	3,370.66	⁽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.

	Claudio Romeo Schlosser	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.

Source: View Original Filing on SEC EDGAR