Petrobras (NYSE: PBR) CFO reports 104 PETR3-linked phantom shares

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA Chief Financial Officer Fernando Sabbi Melgarejo reported his holdings of phantom shares linked to the company’s PETR3 common shares. The filing shows 104.1100 underlying shares tied to these phantom share awards.

According to the award program, phantom shares are granted under the Petrobras Performance Award Program, track the PETR3 share price, and are settled in cash upon vesting rather than in stock. The deferred portion of each award vests in four equal annual installments, and additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity, as occurred for the record date of June 1, 2026.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Melgarejo Fernando Sabbi

Role Chief Financial Officer

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

Holdings After Transaction: Phantom Shares — 104.11 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 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

Underlying PETR3 shares: 104.1100 shares Convenience USD price: $9.27 per share PETR3 BRL closing price: 46.64 BRL per share +1 more

4 metrics

Underlying PETR3 shares 104.1100 shares Linked to CFO’s phantom share holdings

Convenience USD price $9.27 per share Converted PETR3 price using BRL/USD rate

PETR3 BRL closing price 46.64 BRL per share Closing price used in conversion on June 1, 2026

FX rate 5.0297 BRL per 1.00 USD Exchange rate used for U.S. dollar conversion

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 June 1st, 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.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/03/2026 - 05:19 PM Accepted by SEC EDGAR 06/03/2026 - 05:18 PM Learn about SEC filing dates

FAQ

What did Petrobras (PBR) CFO Fernando Sabbi Melgarejo report in this Form 4?

He reported his holdings of phantom shares linked to PETR3 common shares, totaling 104.1100 underlying shares. These awards are part of the Petrobras Performance Award Program and are settled in cash upon vesting, not in company stock.

What are phantom shares in Petrobras (PBR) Performance Award Program?

Phantom shares are compensation units granted under the Petrobras Performance Award Program. They mirror the PETR3 share price and are settled in cash upon vesting, providing stock-linked value to executives without issuing actual Petrobras shares.

How many underlying shares are tied to the Petrobras (PBR) CFO’s phantom share holdings?

The filing shows phantom shares referencing 104.1100 PETR3 underlying shares. This figure represents the number of shares used to calculate the cash value of the phantom awards based on Petrobras’ common share price performance over time.

How do Petrobras (PBR) dividends affect the CFO’s phantom share awards?

Under the program rules, additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity. The filing notes extra phantom shares credited due to a dividend with record date of June 1, 2026.

How is the Petrobras (PBR) phantom share price expressed in this Form 4?

A footnote states a PETR3 closing price of 46.64 BRL per share, converted for convenience into U.S. dollars using a 5.0297 BRL per 1.00 USD exchange rate, resulting in a reported equivalent price of approximately $9.27 per share.

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^*

Melgarejo Fernando Sabbi

(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 Financial Officer

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	104.11		22,828.29	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/ Fernando Sabbi Melgarejo	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.
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* Form 4: SEC 1474 (03-26)