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Phantom share credits for Petrobras (PBR) Chief Engineering Officer under award plan

Filing Impact
(Neutral)
Filing Sentiment
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Form Type
4

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA Chief Engineering Officer Renata Faria Rodrigues Baruzzi Lopes reported updated holdings of phantom shares tied to PETR3 common stock. After dividend-related credits under the Petrobras Performance Award Program, she now holds 102.640 phantom shares directly.

These phantom shares are cash-settled and reference the PETR3 share price. The filing cites a price of $9.27 per share, derived from a PETR3 closing price of 46.64 BRL on June 1, 2026 using a 5.0297 BRL per $1.00 exchange rate. This reflects routine compensation adjustments rather than open-market trading.

Positive

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Negative

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Insider Lopes Renata Faria Rodrigues Baruzzi
Role Chief Engineering Officer
Type Security Shares Price Value
holding Phantom Shares -- -- --
Holdings After Transaction: Phantom Shares — 102.64 shares (Direct)
Footnotes (3)
  1. F1. Phantom shares are granted pursuant to the Petrobras Performance Award Program. The phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting. The deferred portion of the award vests in four equal annual instalments. Additional phantom shares are credited proportionally upon the payment of dividends or interest on equity by the company.
  2. F2. Closing price on June 1st, 2026, less the aggregate gross value of dividends with ex-dividend date on the same day. The price reported in column 2 is a convenience conversion of the 46.64 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 5,0297 BRL per 1.00 USD on June 1st, 2026.
  3. F3. Additional phantom shares credited as a result of dividend payment by Petrobras (record date of June 1st, 2026), as provided by Petrobras Performance Award Program's rules.
Phantom share holdings 102.640 phantom shares Direct holdings after dividend-related credits under award program
Reference share price (BRL) 46.64 BRL per share PETR3 closing price on June 1, 2026
Converted share price (USD) $9.27 per share Convenience conversion of 46.64 BRL using 5.0297 BRL per $1.00
FX rate used 5.0297 BRL per $1.00 Central Bank of Brazil rate on June 1, 2026
Phantom shares financial
"Phantom shares are granted pursuant to the Petrobras Performance Award Program."
Phantom shares are a form of employee or executive compensation that mimics the economic value of owning company stock without actually issuing real shares; holders receive cash or equivalent payments tied to the company’s share price or dividends. Think of it like a receipt that pays out if the stock rises — it aligns managers’ interests with shareholders but does not dilute ownership, while creating a future cash obligation that investors should watch as it can affect company cash flow and valuation.
Petrobras Performance Award Program financial
"Phantom shares are granted pursuant to the Petrobras Performance Award Program."
interest on equity financial
"Additional phantom shares are credited proportionally upon the payment of dividends or interest on equity by the company."
A payment a company makes to its shareholders that compensates them for the capital they provided, similar to how a lender receives interest on a loan. In some accounting or tax systems this payment is treated like interest rather than a regular dividend, which can change a company’s reported profit, cash flow and the taxable income of investors; that treatment affects shareholder returns and valuation.
record date financial
"Additional phantom shares credited as a result of dividend payment by Petrobras (record date of June 1st, 2026)."
The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.

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

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FAQ

What did Petrobras (PBR) disclose in this Form 4 for its Chief Engineering Officer?
The Form 4 shows Petrobras (PBR) Chief Engineering Officer Renata Faria Rodrigues Baruzzi Lopes reporting her phantom share holdings. After dividend-related credits in the performance program, she directly holds 102.640 phantom shares tied to PETR3 common stock, settled in cash at vesting.

What are phantom shares in Petrobras (PBR) performance awards?
Phantom shares in Petrobras (PBR) awards are cash-settled units referenced to PETR3’s common share price. They vest in four equal annual instalments, and additional phantom shares are credited proportionally whenever Petrobras pays dividends or interest on equity to its shareholders.

How many Petrobras (PBR) phantom shares does the officer hold after this filing?
After this filing, the Petrobras (PBR) Chief Engineering Officer holds 102.640 phantom shares. These units mirror PETR3 common share performance and are part of the Petrobras Performance Award Program, with settlement made in cash upon vesting rather than delivering actual shares.

How is the $9.27 price for Petrobras (PBR) phantom shares determined?
The $9.27 price comes from converting a 46.64 BRL PETR3 closing price on June 1, 2026. Petrobras (PBR) used the Central Bank of Brazil exchange rate of 5.0297 BRL per $1.00, providing a U.S. dollar reference value for the phantom share units.

Why were additional Petrobras (PBR) phantom shares credited in this Form 4?
Additional Petrobras (PBR) phantom shares were credited due to a dividend payment with record date June 1, 2026. Under the Petrobras Performance Award Program rules, phantom share balances increase proportionally when Petrobras pays dividends or interest on equity, enhancing the existing award position.
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Lopes Renata Faria Rodrigues Baruzzi
(Last)(First)(Middle)
HENRIQUE VALADARES AVE, 28
19TH FLOOR, A TOWER
(Street)
RIO DE JANEIRO20231030
(City)(State)(Zip)
BRAZIL
(Country)		2. Issuer Name and Ticker or Trading Symbol
PETROBRAS - PETROLEO BRASILEIRO SA [ PBR ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Engineering Officer
2a. Foreign Trading Symbol
[PETR3]
3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Shares(1)$9.27(2) (3) (3)PETR3102.6423,164.26D
Explanation of Responses:
1. Phantom shares are granted pursuant to the Petrobras Performance Award Program. The phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting. The deferred portion of the award vests in four equal annual instalments. Additional phantom shares are credited proportionally upon the payment of dividends or interest on equity by the company.
2. Closing price on June 1st, 2026, less the aggregate gross value of dividends with ex-dividend date on the same day. The price reported in column 2 is a convenience conversion of the 46.64 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 5,0297 BRL per 1.00 USD on June 1st, 2026.
3. Additional phantom shares credited as a result of dividend payment by Petrobras (record date of June 1st, 2026), as provided by Petrobras Performance Award Program's rules.
/s/ Renata Faria Rodrigues Baruzzi Lopes06/01/2026
** Signature of Reporting PersonDate
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 4 (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 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR