What restricted share units does the Vale (VALE) executive hold and when do they vest?

The filing describes restricted share units granted in 2024 and 2025 , with tranches vesting on March 1, 2027 and March 1, 2028 . These units give him contingent rights to the economic value of one Vale common share per unit on settlement.

Will all of Rogerio Tavares Nogueira’s Vale (VALE) restricted share units settle in shares?

Not all units settle in shares. Some restricted share units grant the right to receive one Vale common share, while others vest in January 2028 and are settled in cash, delivering the economic equivalent of one Vale common share per unit.

Vale (NYSE: VALE) executive details direct shares and RSU awards

Q: How many Vale (VALE) common shares does Rogerio Tavares Nogueira directly own?

The Form 3 states that he directly owns 114,562 Vale common shares . This figure reflects his direct equity stake as of the reporting date and excludes additional exposure through restricted share units that vest and settle separately in future periods.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Vale S.A. executive vice president of commercial, Rogerio Tavares Nogueira, filed an initial ownership statement detailing his equity interests in the company. The filing shows direct ownership of 114,562 Common Shares of Vale.

He also holds restricted share units that vest in tranches on March 1, 2027 and March 1, 2028. Each of these units represents a contingent right to receive the economic equivalent of one Vale common share, with some settling in shares and others in cash upon vesting.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Tavares Nogueira Rogerio

Role Executive VP Commercial

Type	Security	Shares	Price	Value
holding	Restricted Share Units	--	--	--
holding	Common Shares	--	--	--

Holdings After Transaction: Restricted Share Units — 28,430 shares (Direct); Common Shares — 114,562 shares (Direct)

Footnotes (1)

Includes 30,029 Common Shares that are represented by Restricted Share Units ("RSUs"), granted in 2024 and 2025. 11,327 RSUs vest on March 1, 2027 and 18,702 RSUs vest on March 1, 2028. Each RSU represents a contingent right to receive one Common Share of Vale S.A. upon settlement. Each RSU represents a contingent right to receive the economic equivalent of one Common Share of Vale S.A. These RSUs vest in January 2028 and will be settled in cash.

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Accepted by SEC EDGAR 03/18/2026 - 07:14 PM

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^*

Tavares Nogueira Rogerio

(Last)

(First)

(Middle)

PRAIA DE BOTAFOGO 186

19TH FLOOR BOTAFOGO

(Street)

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 Commercial

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	114,562⁽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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Restricted Share Units	⁽²⁾	⁽²⁾	Common Shares	28,430	⁽²⁾	D

Explanation of Responses:

1. Includes 30,029 Common Shares that are represented by Restricted Share Units ("RSUs"), granted in 2024 and 2025. 11,327 RSUs vest on March 1, 2027 and 18,702 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. These RSUs vest in January 2028 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Vale (VALE) executive Rogerio Tavares Nogueira report in this Form 3?

He reported his initial equity holdings in Vale S.A., including 114,562 Common Shares owned directly. The filing also notes restricted share units that provide future rights to the economic value of additional Vale common shares as they vest over time.

How many Vale (VALE) common shares does Rogerio Tavares Nogueira directly own?

The Form 3 states that he directly owns 114,562 Vale common shares. This figure reflects his direct equity stake as of the reporting date and excludes additional exposure through restricted share units that vest and settle separately in future periods.

Does this Vale (VALE) Form 3 show recent insider buying or selling activity?

The Form 3 functions as an initial ownership report, listing existing holdings for Rogerio Tavares Nogueira. It highlights his common share position and restricted share units rather than documenting new open-market purchases or sales of Vale shares.