Vale (VALE) CEO details 361,181 shares and 525,000 performance units

Rhea-AI Filing Summary

Vale S.A. Chief Executive Officer Gustavo Duarte Pimenta filed an initial ownership report detailing his equity stake in the company. He directly holds 361,181 Common Shares, including 86,200 represented by Restricted Share Units that vest in 2027 and 2028. He also holds 525,000 Performance Shares, each tied to one Common Share, which vest in five installments between 2027 and 2031 if Vale’s share price reaches specified targets.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Duarte Pimenta Gustavo

Role Chief Executive Officer

Type	Security	Shares	Price	Value
holding	Performance Shares	--	--	--
holding	Common Shares	--	--	--

Holdings After Transaction: Performance Shares — 525,000 shares (Direct); Common Shares — 361,181 shares (Direct)

Footnotes (1)

1. Includes 86,200 Common Shares that are represented by Restricted Share Units ("RSUs"), granted in 2024 and 2025. 35,982 RSUs vest on March 1, 2027 and 50,218 RSUs vest on March 1, 2028. Each RSU represents a contingent right to receive one Common Share of Vale S.A. upon settlement. Each Performance Share represents a contingent right to receive one Common Share of Vale S.A. The Performance Shares vest upon Vale S.A.'s common shares achieving specified prices per share, and vest in five installments (the first of 125,000 Common Shares and the other four of 100,000 Common Shares), on December 1, 2027, 2028, 2029, 2030 and 2031.

Understanding Insider Trading Forms →

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
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1. Name and Address of Reporting Person^*

Duarte Pimenta Gustavo

(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)
	Chief Executive Officer

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	361,181(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
Performance Shares	(2)	(2)	Common Shares	525,000	(2)	D

Explanation of Responses:

1. Includes 86,200 Common Shares that are represented by Restricted Share Units ("RSUs"), granted in 2024 and 2025. 35,982 RSUs vest on March 1, 2027 and 50,218 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 Performance Share represents a contingent right to receive one Common Share of Vale S.A. The Performance Shares vest upon Vale S.A.'s common shares achieving specified prices per share, and vest in five installments (the first of 125,000 Common Shares and the other four of 100,000 Common Shares), on December 1, 2027, 2028, 2029, 2030 and 2031.

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 Gustavo Duarte Pimenta’s Form 3 filing show for Vale (VALE)?

The Form 3 shows Vale CEO Gustavo Duarte Pimenta’s initial equity stake. He holds 361,181 Common Shares and 525,000 Performance Shares, giving a mix of current ownership and future, performance-linked exposure to Vale’s stock.

How many Vale (VALE) common shares does the CEO hold in the Form 3?

The filing reports 361,181 Common Shares held directly by Vale’s CEO. This total includes shares represented by Restricted Share Units that will settle into Common Shares if vesting conditions are met over the next several years.

What Restricted Share Units (RSUs) are disclosed for Vale (VALE) CEO?

The CEO’s position includes 86,200 Common Shares represented by RSUs granted in 2024 and 2025. 35,982 RSUs vest on March 1, 2027, and 50,218 RSUs vest on March 1, 2028, each RSU delivering one Vale Common Share upon settlement.

How do the Performance Shares in Vale (VALE) CEO’s Form 3 work?

Each Performance Share gives a contingent right to receive one Common Share of Vale. The 525,000 Performance Shares vest in five installments from 2027 to 2031, only if Vale’s common shares achieve specified price targets before each vesting date.

Over what period do Vale (VALE) CEO’s Performance Shares vest?

The Performance Shares vest in five installments between 2027 and 2031. The first tranche is 125,000 Common Shares, and the remaining four tranches are 100,000 Common Shares each, contingent on Vale’s stock reaching specified share price levels.

Does the Vale (VALE) Form 3 indicate any recent share purchases or sales by the CEO?

The Form 3 is an initial ownership statement and does not show explicit buy or sell transactions. It instead lists the CEO’s existing holdings in Common Shares, RSUs, and Performance Shares as of the reported date.