Vale (VALE) finance chief discloses shares and RSU awards

Rhea-AI Filing Summary

Vale S.A. executive Marcelo Feriozzi Bacci reported his initial ownership on a Form 3 as Executive VP Finance & IR. He holds 131,652 Common Shares directly and has Restricted Share Units linked to 197,400 underlying Common Shares.

Footnotes explain that 29,092 Common Shares are represented by RSUs granted in 2025 that vest on March 1, 2028, each delivering one Common Share upon settlement. A separate RSU award vests in equal annual installments on March 1 of 2027, 2028 and 2029 and will be settled in cash based on the economic equivalent of one Common Share per unit.

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^*

Feriozzi Bacci 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)

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive VP Finance & IR

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	131,652(1)	D

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
Restricted Share Units	(2)	(2)	Common Shares	197,400	(2)	D

Explanation of Responses:

1. Includes 29,092 Common Shares that are represented by Restricted Share Units ("RSUs"), granted in 2025. The RSUs vest on March 1, 2028. Each RSU represents a contingent right to receive one Common Share of Vale S.A. upon settlement.

2. Each RSU represents a contingent right to receive the economic equivalent of one Common Share of Vale S.A. The RSUs vest annually in equal installments on March 1, 2027, 2028 and 2029 and will be settled in cash.

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 Marcelo Feriozzi Bacci report owning in Vale (VALE) on this Form 3?

He reports direct holdings of 131,652 Common Shares and RSUs tied to 197,400 underlying Common Shares. These positions combine actual shares with equity-based awards that may settle in stock or cash under specified vesting schedules.

How many Vale (VALE) Restricted Share Units are linked to Common Shares in this filing?

The filing shows RSUs linked to 197,400 underlying Common Shares. These units represent rights to receive either shares or the cash economic equivalent of shares, subject to vesting conditions and the specific settlement terms described in the footnotes.

What are the vesting terms of Vale (VALE) RSUs granted in 2025 to Marcelo Bacci?

RSUs granted in 2025 vest on March 1, 2028 and are settled in Common Shares. The filing notes 29,092 Common Shares are represented by these RSUs, each converting into one Vale S.A. Common Share upon settlement at vesting.

Are any of Marcelo Feriozzi Bacci’s Vale (VALE) RSUs cash-settled?

Yes, one RSU grant will be settled in cash based on the economic equivalent of Common Shares. These RSUs vest annually in equal installments on March 1 of 2027, 2028 and 2029, providing cash rather than stock when they vest.

Does this Vale (VALE) Form 3 show any insider buying or selling by Marcelo Bacci?

No, it only reports his existing ownership and RSU awards as of the filing. The transactions are labeled as holdings, with no open-market purchases or sales indicated, making this a baseline disclosure of his equity position.