Vale (VALE) director details indirect ADS and put option holdings

Rhea-AI Filing Summary

Vale S.A. director Gasparino da Silva Marcelo filed an amended initial ownership report showing indirect holdings through M Gaspa Corp.. The filing lists a put option giving the right to sell 25,000 Vale common shares at $15.0000 per share, expiring on September 18, 2026. It also reports indirect ownership of 25,000 common shares, held in the form of American Depositary Shares, each representing one Vale common share.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Gasparino da Silva Marcelo

(Last) (First) (Middle)

PRAIA DE BOTAFOGO 186

19TH FLOOR BOTAFOGO

(Street)

RIO DE JANEIRO RIO DE JANEIRO 22250145

(City) (State) (Zip)

BRAZIL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Vale S.A. [ VALE ]

3a. Foreign Trading Symbol
[VALE3]

5. If Amendment, Date of Original Filed (Month/Day/Year)
03/18/2026

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares(1)	25,000	I	By M Gaspa Corp.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Put Option (right to sell)	02/18/2026	09/18/2026	Common Shares(1)	25,000	$15	I	By M Gaspa Corp.

Explanation of Responses:

1. The Common Shares reported herein are held in the form of American Depositary Shares, each of which represents the right to receive one Common Share of Vale S.A.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Thiago Kiill Lofiego, Attorney-in-fact	03/18/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What does Vale (VALE) director Gasparino da Silva Marcelo report in this Form 3/A?

The Form 3/A shows Gasparino da Silva Marcelo’s indirect holdings in Vale through M Gaspa Corp. It lists a put option on 25,000 common shares and indirect ownership of 25,000 common shares held as American Depositary Shares representing one share each.

Are there any buy or sell transactions reported in this Vale (VALE) Form 3/A?

No buy or sell transactions are reported. The filing characterizes both entries as holdings, with unknown transaction codes, simply updating Marcelo’s indirect ownership position in a put option and in common shares through M Gaspa Corp rather than recording new trades.

What derivative position related to Vale (VALE) does M Gaspa Corp hold?

M Gaspa Corp holds a put option giving the right to sell 25,000 Vale common shares at an exercise price of $15.0000 per share. This option expires on September 18, 2026 and is reported as an indirect holding associated with director Gasparino da Silva Marcelo.

How many Vale (VALE) common shares are indirectly owned according to this Form 3/A?

The filing reports indirect ownership of 25,000 Vale common shares. These are held by M Gaspa Corp and represented as American Depositary Shares, with each ADS corresponding to one Vale common share, according to the footnote included in the report.

How are Vale (VALE) shares held according to the footnote in this Form 3/A?

The footnote explains that the reported Vale common shares are held in the form of American Depositary Shares. Each American Depositary Share represents the right to receive one Vale S.A. common share, clarifying the structure of the indirect holding reported.