Petrobras exec updates phantom share holdings

PETROBRAS - PETROLEO BRASILEIRO SA reported an update to Chief Corporate Affairs officer Clarice Coppetti’s compensation-linked phantom share position.

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA reported an update to Chief Corporate Affairs officer Clarice Coppetti’s compensation-linked phantom share position. The filing shows a holding of 251.49 phantom shares referenced to PETR3 common shares, with an exercise price of 9.27 per share.

According to the disclosure, these phantom shares are part of the Petrobras Performance Award Program, are settled in cash upon vesting, and vest in four equal annual installments. Additional phantom shares were credited as of the June 1, 2026 dividend record date, consistent with the program’s rule that awards are adjusted when dividends or interest on equity are paid.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Coppetti Clarice

Role Chief Corp. Affairs

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

Holdings After Transaction: Phantom Shares — 251.49 contracts (Direct)

Footnotes (3)

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.
2. F2. Closing price on June 1st, 2026, less the aggregate gross value of dividends with ex-dividend date on the same day. The price reported in column 2 is a convenience conversion of the 46.64 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 5,0297 BRL per 1.00 USD on June 1st, 2026.
3. F3. Additional phantom shares credited as a result of dividend payment by Petrobras (record date of June 1st, 2026), as provided by Petrobras Performance Award Program's rules.

Key Figures

Phantom share holdings: 251.49 phantom shares Exercise price: 9.27 per share PETR3 reference price: 46.64 BRL per share +1 more

4 metrics

Phantom share holdings 251.49 phantom shares Total underlying PETR3-linked phantom shares after reported update

Exercise price 9.27 per share Exercise price for phantom shares referenced in the filing

PETR3 reference price 46.64 BRL per share Closing PETR3 price on June 1, 2026 used for conversion

FX rate 5.0297 BRL per 1.00 USD Exchange rate used to convert BRL share price on June 1, 2026

Key Terms

Phantom shares, Petrobras Performance Award Program, interest on equity, Central Bank of Brazil exchange rate

4 terms

Phantom shares financial

"Phantom shares are granted pursuant to the Petrobras Performance Award Program."

Phantom shares are a form of employee or executive compensation that mimics the economic value of owning company stock without actually issuing real shares; holders receive cash or equivalent payments tied to the company’s share price or dividends. Think of it like a receipt that pays out if the stock rises — it aligns managers’ interests with shareholders but does not dilute ownership, while creating a future cash obligation that investors should watch as it can affect company cash flow and valuation.

Petrobras Performance Award Program financial

"Phantom shares are granted pursuant to the Petrobras Performance Award Program."

interest on equity financial

"Additional phantom shares are credited proportionally upon the payment of dividends or interest on equity by the company."

A payment a company makes to its shareholders that compensates them for the capital they provided, similar to how a lender receives interest on a loan. In some accounting or tax systems this payment is treated like interest rather than a regular dividend, which can change a company’s reported profit, cash flow and the taxable income of investors; that treatment affects shareholder returns and valuation.

Central Bank of Brazil exchange rate financial

"based on the Central Bank of Brazil exchange rate of 5,0297 BRL per 1.00 USD on June 1st, 2026."

FAQ

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

What does the Petrobras (PBR) Form 4 filed for Clarice Coppetti report?

The Form 4 reports Chief Corporate Affairs officer Clarice Coppetti’s holding of 251.49 phantom shares tied to PETR3. These phantom shares are part of the Petrobras Performance Award Program and are settled in cash upon vesting according to the plan’s rules.

How many phantom shares does Clarice Coppetti hold in Petrobras (PBR)?

The filing shows Clarice Coppetti holding 251.49 phantom shares referenced to PETR3 common shares. These units reflect compensation under the Petrobras Performance Award Program and are adjusted for dividends or interest on equity declared by the company.

How are Petrobras (PBR) phantom shares under the Performance Award Program settled?

Phantom shares under the Petrobras Performance Award Program are settled in cash upon vesting. They are referenced to the PETR3 common share price, and the deferred portion of each award vests in four equal annual installments under the plan’s terms.

Why were additional phantom shares credited in the Petrobras (PBR) Form 4?

Additional phantom shares were credited as a result of a dividend payment by Petrobras with a record date of June 1, 2026. The program’s rules provide for proportional credits of phantom shares whenever dividends or interest on equity are paid.

What price reference is used for Petrobras (PBR) phantom shares in this Form 4?

The filing references a price of 46.64 BRL per share, converted using a 5.0297 BRL per 1.00 USD exchange rate on June 1, 2026. An exercise price of 9.27 per share is reported for the phantom share position.

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

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Accepted by SEC EDGAR 06/03/2026 - 05:23 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Coppetti Clarice

(Last) (First) (Middle)

RUA HENRIQUE VALADARES 28

19 TH FLOOR, A TOWER

(Street)

RIO DE JANEIRO RIO DE JANEIRO 20231-030

(City) (State) (Zip)

BRAZIL

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Corp. Affairs

2a. Foreign Trading Symbol
[PETR3]

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Shares(1)	$9.27(2)							(3)	(3)	PETR3	251.49		33,216.87	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.

2. Closing price on June 1st, 2026, less the aggregate gross value of dividends with ex-dividend date on the same day. The price reported in column 2 is a convenience conversion of the 46.64 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 5,0297 BRL per 1.00 USD on June 1st, 2026.

3. Additional phantom shares credited as a result of dividend payment by Petrobras (record date of June 1st, 2026), as provided by Petrobras Performance Award Program's rules.

	/s/ Clarice Coppetti	06/01/2026
	** 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 4 (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.
* Form 4: SEC 1474 (03-26)