Petrobras CEO updates phantom share holdings

PETROBRAS - PETROLEO BRASILEIRO SA CEO Magda Maria de Regina Chambriard reported an update to her phantom share compensation balance.

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA CEO Magda Maria de Regina Chambriard reported an update to her phantom share compensation balance. She now holds 139.6 phantom shares referenced to PETR3 common shares under the Petrobras Performance Award Program, which are cash-settled upon vesting and vest in four equal annual installments.

Additional phantom shares were credited as a result of a Petrobras dividend with a record date of June 1, 2026. The valuation uses a PETR3 closing price of 46.64 BRL per share, with a convenience U.S. dollar conversion based on a 5.0297 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 — 139.6 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 balance: 139.6 phantom shares Exercise/valuation price (USD): $9.27 per share PETR3 closing price: 46.64 BRL per share +1 more

4 metrics

Phantom share balance 139.6 phantom shares Total phantom shares underlying PETR3 following the reported entry

Exercise/valuation price (USD) $9.27 per share Convenience U.S. dollar conversion linked to PETR3 price

PETR3 closing price 46.64 BRL per share Closing price on June 1, 2026 for PETR3 common shares

FX rate 5.0297 BRL per 1.00 USD Central Bank of Brazil exchange rate used on June 1, 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 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.

FAQ

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

What does the Petrobras (PBR) Form 4 report for CEO Magda Chambriard?

The Form 4 shows CEO Magda Chambriard reporting 139.6 phantom shares under the Petrobras Performance Award Program. These units are referenced to PETR3 common shares, vest over four annual installments, and are settled in cash rather than delivering Petrobras stock directly.

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

Phantom shares are compensation units granted under the Petrobras Performance Award Program. They mirror PETR3 common share prices but are settled in cash upon vesting. The award’s deferred portion vests in four equal annual installments, aligning compensation with Petrobras share performance over time.

How did Petrobras (PBR) dividends affect Magda Chambriard’s phantom shares?

Additional phantom shares were credited to Magda Chambriard as a result of a Petrobras dividend with a record date of June 1, 2026. The program’s rules provide proportional credits when the company pays dividends or interest on equity, increasing the number of phantom units outstanding.

How are Magda Chambriard’s Petrobras (PBR) phantom shares valued in the Form 4?

The phantom shares are referenced to the PETR3 closing price on June 1, 2026, stated as 46.64 BRL per share. A convenience U.S. dollar value is derived using a 5.0297 BRL per 1.00 USD exchange rate, reflecting the Brazilian Central Bank rate that day.

Do the reported Petrobras (PBR) phantom shares give voting rights or actual PETR3 stock?

The filing describes phantom shares that are settled in cash upon vesting and are referenced to PETR3 share prices. It characterizes them as part of a performance award program, indicating they represent a cash-based incentive rather than direct ownership or voting rights in PETR3 shares.

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

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Accepted by SEC EDGAR 06/03/2026 - 05:15 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^*

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)
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	139.6		28,872.98	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/ Magda Maria de Regina Chambriard	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)