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Petrobras (NYSE: PBR) details 146 phantom-share award

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA (PBR) reports the equity-linked compensation position of Chief Engineering Officer Renata Faria Rodrigues Baruzzi Lopes. She holds 146.0400 phantom shares referenced to PETR3 common shares, with an exercise price shown as $9.3000 per share, converted from 47.99 BRL using a Central Bank of Brazil exchange rate of 5.1619 BRL per 1.00 USD on August 21, 2026.

The phantom shares are granted under the Petrobras Performance Award Program, vest in four equal annual installments, are settled in cash upon vesting, and receive additional credited units when dividends or interest on equity are paid, including credits related to a dividend with record date of August 21, 2026. The entry reflects holdings rather than a new open-market buy or sell.

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Insider Lopes Renata Faria Rodrigues Baruzzi
Role Chief Engineering Officer
Type Security Shares Price Value
holding Phantom Shares F1, F2, F3 -- -- --
Holdings After Transaction: Phantom Shares — 146.04 shares (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 August 21st, 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 47.99 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 5.1619 BRL per 1.00 USD on August 21st, 2026.
  3. F3. Additional phantom shares credited as a result of dividend payment by Petrobras (record date of August 21st, 2026), as provided by Petrobras Performance Award Program's rules.
Phantom shares underlying PETR3 146.0400 shares Total phantom shares and underlying PETR3 exposure held after the reported entry
Exercise price (USD convenience conversion) $9.3000 per share Converted from 47.99 BRL per share using Central Bank of Brazil rate on August 21, 2026
PETR3 closing price 47.99 BRL per share Closing price on August 21, 2026, before conversion to U.S. dollars
Exchange rate 5.1619 BRL per 1.00 USD Central Bank of Brazil exchange rate used for the $9.3000 price conversion on August 21, 2026
Dividend record date August 21, 2026 Record date for dividend that triggered additional phantom share credits
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"
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.
record date financial
"Additional phantom shares credited as a result of dividend payment by Petrobras (record date of August 21st, 2026)"
The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.

FAQ

What insider position did PBR report for Renata Faria Rodrigues Baruzzi Lopes?
PBR reported that Chief Engineering Officer Renata Faria Rodrigues Baruzzi Lopes holds 146.0400 phantom shares referenced to PETR3 common shares under the Petrobras Performance Award Program, with the position settled in cash upon vesting rather than in actual shares.

How many phantom shares linked to PETR3 does the PBR executive hold?
The executive holds 146.0400 phantom shares, with an equivalent underlying exposure to 146.0400 PETR3 common shares, as disclosed in the Form 4 derivative holdings table and related footnotes.

What price per share is associated with the PBR phantom share award?
The phantom share reference price is shown as $9.3000 per share, which is a U.S. dollar conversion of 47.99 BRL per share using the Central Bank of Brazil exchange rate of 5.1619 BRL per 1.00 USD on August 21, 2026.

How are Petrobras (PBR) phantom shares under the Performance Award Program settled?
The filing states that Petrobras phantom shares granted under the Petrobras Performance Award Program are settled in cash upon vesting, rather than delivering PETR3 shares. The deferred portion of each award vests in four equal annual installments.

Do PBR phantom share awards receive adjustments for dividends or interest on equity?
Yes. The filing explains that additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity, including phantom shares credited from a dividend with a record date of August 21, 2026.

Was this PBR Form 4 filed under a Rule 10b5-1 trading plan?
No. The Form 4 indicates the Rule 10b5-1 checkbox is not checked (aff_10b5_one is false). The reported entry reflects a holding of phantom shares rather than a new buy or sell transaction under a trading plan.

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

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Lopes Renata Faria Rodrigues Baruzzi
(Last)(First)(Middle)
HENRIQUE VALADARES AVE, 28
19TH FLOOR, A TOWER
(Street)
RIO DE JANEIRO20231030
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Engineering Officer
2a. Foreign Trading Symbol
[PETR3]
3. Date of Earliest Transaction (Month/Day/Year)
08/21/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Shares(1)$9.3(2) (3) (3)PETR3146.0421,577.31D
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 August 21st, 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 47.99 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 5.1619 BRL per 1.00 USD on August 21st, 2026.
3. Additional phantom shares credited as a result of dividend payment by Petrobras (record date of August 21st, 2026), as provided by Petrobras Performance Award Program's rules.
/s/ Renata Faria Rodrigues Baruzzi Lopes08/21/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR