Petrobras CEO updates phantom share holdings

PETROBRAS - PETROLEO BRASILEIRO SA CEO Magda Maria de Regina Chambriard reported an updated holding of 110.37 phantom shares linked to PETR3 common shares.

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA CEO Magda Maria de Regina Chambriard reported an updated holding of 110.37 phantom shares linked to PETR3 common shares. These phantom shares are granted under the Petrobras Performance Award Program, settle in cash upon vesting, and vest in four equal annual installments.

The filing notes that additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity, including a credit related to a dividend with a record date of April 22, 2026. The reference PETR3 share price used is 52.07 BRL per share, shown in U.S. dollars using a 4.9647 BRL per 1.00 USD exchange rate.

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	--	--	--

Holdings After Transaction: Phantom Shares — 110.37 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 April 22nd, 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 52.07 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 4.9647 BRL per 1.00 USD on April 22nd, 2026.
3. F3. Additional phantom shares credited as a result of dividend payment by Petrobras (record date of April 22, 2026), as provided by Petrobras Performance Award Program's rules.

Key Figures

Phantom share balance: 110.37 units Exercise/reference price (USD): $10.49 per share PETR3 closing price: 52.07 BRL per share +1 more

4 metrics

Phantom share balance 110.37 units Phantom shares linked to PETR3 common shares

Exercise/reference price (USD) $10.49 per share Convenience conversion of 52.07 BRL per PETR3 share

PETR3 closing price 52.07 BRL per share Closing price on April 22, 2026

FX rate 4.9647 BRL per $1.00 Central Bank of Brazil rate on April 22, 2026

Key Terms

Phantom shares, Petrobras Performance Award Program, interest on equity, record date

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.

record date financial

"Additional phantom shares credited as a result of dividend payment by Petrobras (record date of April 22, 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

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

What did Petrobras (PBR) CEO report in this Form 4 filing?

The CEO reported an updated phantom share holding of 110.37 units. These phantom shares track the PETR3 common share price, vest over four years, and are settled in cash. The update reflects credits tied to Petrobras dividend-related adjustments under its Performance Award Program.

What are the phantom shares held by Petrobras (PBR) CEO?

The phantom shares are cash-settled awards referenced to PETR3 common shares. Granted under the Petrobras Performance Award Program, they vest in four equal annual installments, mirror the share price, and are increased proportionally when Petrobras pays dividends or interest on equity.

How many phantom shares does the Petrobras (PBR) CEO hold after this update?

After this update, the CEO holds 110.37 phantom shares. These units correspond to an equivalent number of PETR3 underlying shares and form part of a long-term performance-based award that is ultimately settled in cash rather than actual share delivery.

How are Petrobras (PBR) phantom shares affected by dividends?

Phantom shares increase when Petrobras pays dividends or interest on equity. The filing explains that additional phantom shares are credited proportionally on such payments, including a credit tied to a dividend with a record date of April 22, 2026, under program rules.

What price and exchange rate are used in this Petrobras (PBR) Form 4?

The filing references a 52.07 BRL PETR3 closing price and a 4.9647 BRL per $1.00 rate. The U.S. dollar figure reported reflects a convenience conversion using the Central Bank of Brazil exchange rate on April 22, 2026.

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

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Accepted by SEC EDGAR 04/24/2026 - 06:52 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)
04/24/2026

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)	$10.49(2)							(3)	(3)	PETR3	110.37		9,288.45	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 April 22nd, 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 52.07 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 4.9647 BRL per 1.00 USD on April 22nd, 2026.

3. Additional phantom shares credited as a result of dividend payment by Petrobras (record date of April 22, 2026), as provided by Petrobras Performance Award Program's rules.

	/s/ Magda Maria de Regina Chambriard	04/24/2026
	** 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)