Petrobras (NYSE: PBR) details CPO’s 258.31 PETR3 phantom shares

Rhea-AI Filing Summary

PETROBRAS - PETROLEO BRASILEIRO SA reported an update to Chief Product Officer William Franca Da Silva’s deferred compensation through phantom shares. These phantom shares track the PETR3 common share price and are settled in cash when they vest under the Petrobras Performance Award Program.

Following this update, his phantom share position referenced to PETR3 stands at 258.31 units at an exercise price of $9.27 per share, based on a 46.64 BRL price and a 5.0297 BRL per 1.00 USD exchange rate on June 1, 2026. Additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity, including credits tied to the June 1, 2026 record date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Da Silva William Franca

Role Chief Product Officer

Type	Security	Shares	Price	Value
holding	Phantom Shares	--	--	--

Holdings After Transaction: Phantom Shares — 258.31 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.

Key Figures

Phantom share balance: 258.31 units Exercise price: $9.27 per share PETR3 BRL price: 46.64 BRL per share +1 more

4 metrics

Phantom share balance 258.31 units Underlying PETR3-linked phantom shares after June 1, 2026 credits

Exercise price $9.27 per share Convenience conversion of PETR3 price for phantom shares

PETR3 BRL price 46.64 BRL per share Closing price used for June 1, 2026 phantom share valuation

FX rate 5.0297 BRL per 1.00 USD Central Bank of Brazil rate on June 1, 2026 for conversion

Key Terms

Phantom shares, Petrobras Performance Award Program, record date, interest on equity

4 terms

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."

record date financial

"dividend payment by Petrobras (record date of June 1st, 2026), as provided"

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.

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.

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

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Available on EDGAR 06/03/2026 - 05:17 PM Accepted by SEC EDGAR 06/03/2026 - 05:16 PM Learn about SEC filing dates

FAQ

What did Petrobras (PBR) disclose about William Franca Da Silva’s phantom shares?

Petrobras disclosed that Chief Product Officer William Franca Da Silva holds 258.31 phantom shares tied to PETR3. These awards are part of the Petrobras Performance Award Program and are settled in cash upon vesting, reflecting the company’s share price performance over time.

How do Petrobras (PBR) phantom shares under the Performance Award Program work?

Phantom shares under Petrobras’ Performance Award Program mirror the PETR3 share price and are settled in cash at vesting. They vest in four equal annual installments, with extra phantom shares credited proportionally when Petrobras pays dividends or interest on equity to common shareholders.

What is the exercise price and reference price for Petrobras (PBR) phantom shares?

The filing shows an exercise price of $9.27 per phantom share, derived from a 46.64 BRL PETR3 share price. This conversion uses the Central Bank of Brazil’s June 1, 2026 rate of 5.0297 BRL per 1.00 USD for convenience in U.S. dollar reporting.

How many PETR3-linked phantom shares does the Petrobras (PBR) officer hold?

The Petrobras Chief Product Officer holds phantom shares referencing 258.31 PETR3 common shares. This figure reflects his deferred compensation position after credits, including those granted in connection with dividends recorded on June 1, 2026 under the company’s performance award rules.

How are Petrobras (PBR) phantom shares affected by dividends and interest on equity?

When Petrobras pays dividends or interest on equity, additional phantom shares are credited proportionally to the award. The filing notes extra credits due to a dividend with record date June 1, 2026, increasing the officer’s phantom share balance linked to PETR3.

SEC Form 4

FORM 4

UNITED 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^*

Da Silva William Franca

(Last) (First) (Middle)

28, HENRIQUE VALADARES AVE

19TH FLOOR, A TOWER

(Street)

RIO DE JANEIRO RIO DE JANEIRO 20231-030

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Product 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)

X	Form 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)
			Code	V	Amount	(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Shares(1)	$9.27(2)							(3)	(3)	PETR3	258.31		33,677.29	D

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/ William Franca da Silva	06/01/2026
	** 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 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)