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Petrobras (NYSE: PBR) exec surrenders 1,733 phantom shares to issuer

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

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA Chief Engineering Officer Renata Faria Rodrigues Baruzzi Lopes reported a disposition of phantom shares to the issuer. On this Form 4, she returned 1,733 phantom shares tied to PETR3 common shares under the Petrobras Performance Award Program.

After this transaction, she holds 21,431.26 phantom shares. These awards are cash-settled and referenced to the PETR3 share price, with additional phantom shares credited when Petrobras pays dividends or interest on equity. The filing notes a 49.53 BRL weighted average PETR3 price over the last 20 trading sessions, converted using a 5.0409 BRL per 1.00 USD exchange rate.

Positive

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Negative

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Insider Lopes Renata Faria Rodrigues Baruzzi
Role Chief Engineering Officer
Type Security Shares Price Value
Disposition Phantom Shares 1,733 $0.00 --
Holdings After Transaction: Phantom Shares — 21,431.26 shares (Direct, null)
Footnotes (1)
  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. Weighted average of the last 20 trading sessions of Petrobras common shares, resulting in 49.53 BRL. The average is calculated as the sum of turnover divided by the sum of volume over these last 20 trading sessions. The price reported in column 2 is a convenience conversion of the 49.53 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 5.0409 BRL per 1.00 USD on June 3rd, 2026.
Phantom shares disposed 1,733 phantom shares Disposition to issuer on June 3, 2026
Phantom shares remaining 21,431.26 phantom shares Holdings following the reported transaction
Weighted average PETR3 price 49.53 BRL per share Last 20 trading sessions for Petrobras common shares
FX rate used 5.0409 BRL per 1.00 USD Conversion rate applied on June 3, 2026
Underlying PETR3 shares 1,733 shares Underlying security reference for disposed phantom shares
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."
PETR3 financial
"The phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting."
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.
weighted average financial
"Weighted average of the last 20 trading sessions of Petrobras common shares, resulting in 49.53 BRL."
A weighted average is a way of calculating an overall number when some items matter more than others by giving each item a different level of importance, or weight. Investors use weighted averages to combine figures like prices, returns or earnings so the result reflects the size or significance of each part — like grading a class where a final exam counts more than a quiz, producing a score that better represents true performance.
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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)
06/03/2026		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)$9.83(2)06/03/2026D1,733 (2) (2)PETR31,733(2)21,431.26D
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. Weighted average of the last 20 trading sessions of Petrobras common shares, resulting in 49.53 BRL. The average is calculated as the sum of turnover divided by the sum of volume over these last 20 trading sessions. The price reported in column 2 is a convenience conversion of the 49.53 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 5.0409 BRL per 1.00 USD on June 3rd, 2026.
/s/ Renata Faria Rodrigues Baruzzi Lopes06/03/2026
** 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

FAQ

What insider transaction did Petrobras (PBR) report in this Form 4?

Petrobras reported a disposition of 1,733 phantom shares by its Chief Engineering Officer. The phantom shares were returned to the issuer under the Petrobras Performance Award Program, reducing the reported award balance while the underlying equity reference remains PETR3 common shares.

Who is the insider involved in this Petrobras (PBR) Form 4 filing?

The insider is Renata Faria Rodrigues Baruzzi Lopes, Petrobras’ Chief Engineering Officer. She reported a derivative transaction involving phantom shares granted under the Petrobras Performance Award Program, which are linked to PETR3 common shares and settled in cash upon vesting.

How many phantom shares did the Petrobras officer dispose of and how many remain?

The officer disposed of 1,733 phantom shares to the issuer and now holds 21,431.26 phantom shares. These remaining phantom shares continue to track the PETR3 common share price and will be settled in cash as they vest over time.

What are phantom shares in the Petrobras Performance Award Program?

Phantom shares are cash-settled awards referenced to PETR3 common share prices. They vest in four equal annual installments, with additional phantom shares credited proportionally when Petrobras pays dividends or interest on equity, aligning the award’s value with shareholder distributions.

How was the phantom share value calculated in this Petrobras (PBR) filing?

The value was based on a 49.53 BRL weighted average PETR3 share price over the last 20 trading sessions. This Brazilian real price was convenience-converted to U.S. dollars using a 5.0409 BRL per 1.00 USD exchange rate as of June 3, 2026.