AXIA Energia S.A. Director Converts Preferred Shares to Common Shares

Insider Transaction Analysis: AXIA Energia S.A. (AXIA3)

Executive Summary

On September 16, 2026, Vicente Falconi Campos, a Director of AXIA Energia S.A., reported the receipt of 285,818 Common Shares through the conversion of an equivalent number of Class "C" Preferred Shares (PNC Shares). The transactions were executed indirectly across two investment vehicles controlled by Mr. Campos: STARTOURS FIA IE (180,344 shares) and TUCA FIA RESPONSABILIDADE LIMITADA (105,474 shares).

Nature of Transaction

• Transaction Code: A (Acquisition) / C (Conversion of derivative security).
• Price: $0.00 per share (1:1 conversion ratio).
• Context: Pursuant to Footnote 1 and Footnote 5, the conversion occurred in connection with the mandatory redemption of 19.61% of AXIA Energia's outstanding Class "C" Preferred Shares under the terms of the company's bylaws. As this reflects an automatic/mandatory structural conversion rather than an open-market purchase or discretionary sale, it does not convey directional insider sentiment.

Ownership Position Post-Transaction

Following these transactions:

• STARTOURS FIA IE: Holds 4,441,335 Common Shares and 739,314 Class "C" Preferred Shares.
• TUCA FIA RESPONSABILIDADE LIMITADA: Holds 2,597,490 Common Shares and 432,385 Class "C" Preferred Shares.
• Direct Ownership: Mr. Campos directly holds 142,974 Common Shares (inclusive of RSUs).

Trading Significance

Low. The reported events represent non-discretionary derivative conversions driven by company bylaws and mandatory redemption provisions.