Petrobras CEO holds 264.8 phantom award shares

PETROBRAS - PETROLEO BRASILEIRO SA (PBR) reported that CEO Magda Maria de Regina Chambriard holds derivative-based compensation linked to common shares.

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA (PBR) reported that CEO Magda Maria de Regina Chambriard holds derivative-based compensation linked to common shares. The filing lists 264.8400 phantom shares referenced to PETR3, under the Petrobras Performance Award Program, with a convenience U.S. dollar exercise price of $9.3000 per underlying share. These phantom shares are cash-settled upon vesting, vest in four equal annual installments, and receive additional credits when Petrobras pays dividends or interest on equity.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Chambriard Magda Maria de Regina

Role CEO

Type	Security	Shares	Price	Value
holding	Phantom Shares F1, F2, F3	--	--	--

Holdings After Transaction: Phantom Shares — 264.84 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 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.

Key Figures

Underlying security phantom shares: 264.8400 shares Exercise price (USD, convenience conversion): $9.3000 per share PETR3 price in BRL: 47.99 BRL per share +2 more

5 metrics

Underlying security phantom shares 264.8400 shares Phantom shares referenced to PETR3 following the reported holding entry

Exercise price (USD, convenience conversion) $9.3000 per share Converted from 47.99 BRL per share using the August 21, 2026 FX rate

PETR3 price in BRL 47.99 BRL per share Closing price on August 21, 2026 used for the phantom share reference

FX rate BRL to USD 5.1619 BRL per 1.00 USD Central Bank of Brazil exchange rate on August 21, 2026 for price conversion

Vesting schedule 4 equal annual installments Deferred portion of Petrobras Performance Award Program phantom shares

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"

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 5.1619 BRL per 1.00 USD"

FAQ

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

What did PBR disclose about CEO Magda Chambriard's phantom share holdings?

PBR disclosed that CEO Magda Chambriard is credited with 264.8400 phantom shares under the Petrobras Performance Award Program, referenced to PETR3 common shares and settled in cash upon vesting, with additional phantom shares credited when Petrobras pays dividends or interest on equity.

What is the exercise price of the phantom shares reported by PBR?

The filing reports an exercise price of $9.3000 per share, described as a convenience conversion of 47.99 BRL per share using the 5.1619 BRL per 1.00 USD exchange rate from the Central Bank of Brazil on August 21, 2026.

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

The phantom shares are settled in cash upon vesting. They are referenced to the PETR3 common share price, vest in four equal annual installments, and receive additional phantom share credits proportionally when Petrobras pays dividends or interest on equity.

Did the PBR Form 4 report any open-market share purchases or sales by the CEO?

No. The Form 4 records a holding entry for phantom shares and additional credits from a dividend-related adjustment. The structured data show no buy or sell transactions in Petrobras equity securities in this report.

Why were additional phantom shares credited to the PBR CEO on August 21, 2026?

Additional phantom shares were credited as a result of a dividend payment by Petrobras with a record date of August 21, 2026, in accordance with the Petrobras Performance Award Program rules, which grant proportional phantom share credits when dividends or interest on equity are paid.

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

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Available on EDGAR 08/24/2026 - 05:40 PM EDT Accepted by SEC EDGAR 08/24/2026 - 05:40 PM EDT 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^*

Chambriard Magda Maria de Regina

(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)
	CEO

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)

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)	$9.3(2)							(3)	(3)	PETR3	264.84		29,137.82	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 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/ Magda Maria de Regina Chambriard	08/21/2026
	** 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).
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* Form 4: SEC 1474 (03-26)