Director Ana Silvia Corso Matte filed a Form 4 with the SEC on November 3, 2026, reporting the conversion of 566 Class "C" Preferred Shares into 566 Common Shares of AXIA Energia S.A. on October 30, 2026, at a price of $0.

Key Highlights

  • Transaction date: October 30, 2026, the date 566 Class "C" Preferred Shares ("PNC Shares") were converted into 566 Common Shares at a price of $0.
  • Direct beneficial ownership after transaction: 23,310 Common Shares held directly, plus 4,000 Common Shares held indirectly by spouse.
  • Derivative position reduced: Class "C" Preferred Shares beneficially owned following the transaction stand at 2,490, held directly.
  • Conversion context: According to the filing, the conversion was connected to the mandatory redemption of 18.54% of the company's outstanding PNC Shares announced on October 20, 2026.
  • Bylaws mechanism: The filing states PNC Shares convert at a 1:1 ratio into Common Shares, with 4% of originally-issued PNC Shares allocated proportionally each fiscal year from 2026 through 2030, and remaining shares converting in 2031.
  • Reporting person's role: Ana Silvia Corso Matte is identified in the filing as a Director of AXIA Energia S.A.

Mandatory PNC Share Conversion Reduces Corso Matte's Preferred Position at AXIA Energia

According to the Form 4 filing, Director Ana Silvia Corso Matte reported a transaction coded "C" (conversion) on October 30, 2026, in which 566 Class "C" Preferred Shares of AXIA Energia S.A. (ticker AXIA3, foreign trading symbol AXIA7) were converted into 566 Common Shares at a price of $0. The transaction was filed on November 2, 2026, and listed as a filing by one reporting person.

The filing's explanation of responses states that the conversion occurred "in connection with the mandatory redemption of 18.54% of AXIA Energia S.A.'s outstanding PNC Shares announced on October 20, 2026 and pursuant to the terms of the Company's bylaws." Pursuant to Article 11 of the company's bylaws, as described in the filing, PNC Shares convert into Common Shares at a 1:1 ratio, with 4% of the total originally-issued PNC Shares allocated proportionally among all holders in each of fiscal years 2026, 2027, 2028, 2029, and 2030, and all remaining PNC Shares converting in fiscal year 2031, assuming no earlier mandatory redemption.

Following the reported transaction, Corso Matte directly holds 23,310 Common Shares and 2,490 Class "C" Preferred Shares. The filing also discloses 4,000 Common Shares held indirectly by her spouse. No cash consideration was paid or received for the conversion, with the price listed as $0 throughout.

What Was Disclosed

Director Ana Silvia Corso Matte reported the October 30, 2026 conversion of 566 PNC Shares into 566 Common Shares of AXIA Energia S.A. at $0, as required under the company's bylaws, leaving her with 23,310 directly held Common Shares and 2,490 remaining Class "C" Preferred Shares.