Vale director updates indirect option holdings

Vale S.A. director Gasparino da Silva Marcelo reported indirect holdings through M Gaspa Corp. The filing shows a put option giving the right to sell 25,000 Common Shares at an exercise price of $15.0000 per share, expiring on September 18, 2026.

Rhea-AI Filing Summary

Vale S.A. director Gasparino da Silva Marcelo reported indirect holdings through M Gaspa Corp. The filing shows a put option giving the right to sell 25,000 Common Shares at an exercise price of $15.0000 per share, expiring on September 18, 2026. It also lists 25,337 Common Shares held indirectly as of March 18, 2026. The Common Shares may be represented by American Depositary Shares, each corresponding to one Vale Common Share.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Gasparino da Silva Marcelo

Role Director

Type	Security	Shares	Price	Value
holding	Put Option (right to sell)	--	--	--
holding	Common Shares	--	--	--

Holdings After Transaction: Put Option (right to sell) — 25,000 contracts (Indirect, By M Gaspa Corp.); Common Shares — 25,337 shares (Indirect, By M Gaspa Corp.)

Footnotes (1)

1. F1. The Common Shares may be represented by American Depositary Shares, each of which represents the right to receive one Common Share of Vale S.A.

Key Figures

Underlying shares: 25,000 shares Exercise price: $15.0000/share Option expiration: 2026-09-18 +1 more

4 metrics

Underlying shares 25,000 shares Underlying Common Shares for put option

Exercise price <money>$15.0000</money>/share Put option exercise price

Option expiration <date>2026-09-18</date> Put option expiration date

Indirect common shares 25,337 shares Common Shares indirectly held as of 2026-03-18

Key Terms

Put Option (right to sell), American Depositary Shares, indirect ownership, underlying security

4 terms

Put Option (right to sell) financial

"security_title: "Put Option (right to sell)" on Vale Common Shares"

American Depositary Shares financial

"The Common Shares may be represented by American Depositary Shares, each of which represents the right to receive one Common Share"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

indirect ownership financial

"direct_or_indirect: "I" with nature_of_ownership: "By M Gaspa Corp." indicating indirect ownership"

underlying security financial

"underlying_security_title: "Common Shares" and underlying_security_shares: "25000.0000""

FAQ

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

What insider position does Vale (VALE) director Gasparino da Silva Marcelo report?

He reports indirect ownership through M Gaspa Corp. The filing lists 25,337 Vale Common Shares held indirectly and a put option referencing 25,000 underlying Common Shares, providing transparency into his associated indirect equity exposure.

What derivative position related to Vale (VALE) shares is disclosed?

The filing discloses a put option, described as a right to sell, on 25,000 underlying Vale Common Shares. It has an exercise price of $15.0000 per share and an expiration date of September 18, 2026, held indirectly through M Gaspa Corp.

How many Vale (VALE) common shares are indirectly held after this Form 3/A?

The report lists 25,337 Vale Common Shares indirectly held as of March 18, 2026. These shares are attributed to M Gaspa Corp., reflecting the director’s indirect interest rather than a directly registered personal holding.

How are Vale (VALE) Common Shares represented for U.S. investors in this filing?

The footnote explains that Vale Common Shares may be represented by American Depositary Shares. Each American Depositary Share corresponds to the right to receive one Vale Common Share, helping investors understand how the position may appear in U.S. markets.

Does this Vale (VALE) Form 3/A show new insider buying or selling activity?

The filing classifies the entries as holdings, with transaction codes and directions marked as unknown. It primarily updates indirect positions and derivative details, rather than clearly documenting new open‑market purchases or sales of Vale securities.

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

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Accepted by SEC EDGAR 03/31/2026 - 06:00 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

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)
03/19/2026

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)	25,337	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 may be represented by 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	03/31/2026
	** 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)