STOCK TITAN
  1. Home
  2. Sec-filings
  3. PBR
  4. [Form 3] PETROBRAS - PETROLEO BRASILEIRO SA Initial Statement of Beneficial Ownership

Petrobras (NYSE: PBR) CPO discloses cash-settled phantom award details

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA executive William Franca Da Silva, Chief Product Officer, filed an initial ownership report showing holdings of cash-settled phantom share awards. These awards are tied to the PETR3 common share price, vest in four equal annual instalments, and receive additional phantom credits when dividends or interest on equity are paid.

Positive

  • None.

Negative

  • None.
Insider Da Silva William Franca
Role Chief Product Officer
Type Security Shares Price Value
holding Phantom Shares -- -- --
holding Phantom Shares -- -- --
holding Phantom Shares -- -- --
holding Phantom Shares -- -- --
Holdings After Transaction: Phantom Shares — 23,741.99 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.

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

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Understanding Insider Trading Forms →

FAQ

What does the Petrobras (PBR) Form 3 filing by William Franca Da Silva show?
The Form 3 shows existing phantom share awards held by William Franca Da Silva. As Chief Product Officer, he reports cash-settled phantom shares referenced to PETR3, vesting over four annual instalments and adjusted for dividends or interest on equity paid by Petrobras.

What are phantom shares reported in the Petrobras (PBR) Form 3?
Phantom shares are cash-settled awards linked to Petrobras’ PETR3 share price. They are granted under the Petrobras Performance Award Program and pay cash upon vesting, with additional phantom shares credited proportionally when dividends or interest on equity are distributed.

How do Petrobras (PBR) phantom share awards for the CPO vest?
The deferred portion of Petrobras phantom share awards vests in four equal annual instalments. Over this period, the number of phantom shares can increase, as extra units are credited proportionally whenever Petrobras pays dividends or interest on equity to its shareholders.

Are Petrobras (PBR) phantom share awards settled in stock or cash?
The phantom share awards disclosed are settled in cash upon vesting. Their value is referenced to the PETR3 common share price, but they do not involve delivery of actual shares; instead, participants receive cash based on the award’s value at vesting.

Which Petrobras share class underlies the phantom shares in this Form 3?
The phantom shares are referenced to the PETR3 common share class. The filing specifies PETR3 as the underlying security title, meaning the cash value of these awards is tied to the market performance of Petrobras’ common shares 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*
Da Silva William Franca
(Last) (First) (Middle)
28, HENRIQUE VALADARES AVE
19TH FLOOR, A TOWER
(Street)
RIO DE JANEIRO D5 20231-030
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
03/12/2026 		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 Product 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 6,759.52 (1) D
Phantom Shares(1) 05/01/2026 (1) PETR3 6,759.52 (1) D
Phantom Shares(1) 05/01/2026 (1) PETR3 6,759.52 (1) D
Phantom Shares(1) 05/01/2026 (1) PETR3 3,463.43 (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.
William Franca Da Silva 03/12/2026
** 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