Fernando Sabbi Melgarejo, Chief Financial Officer of Petrobras - Petroleo Brasileiro SA (NYSE:PBR), filed a Form 4 on August 24, 2026, disclosing a change in beneficial ownership of phantom shares with a transaction date of August 21, 2026.

Key Highlights

  • Reporting person: Fernando Sabbi Melgarejo, identified as Chief Financial Officer of Petrobras - Petroleo Brasileiro SA
  • Security type: Phantom shares granted under the Petrobras Performance Award Program, referenced to the PETR3 common share price and settled in cash upon vesting
  • Transaction date: August 21, 2026, reflecting additional phantom shares credited as a result of a Petrobras dividend payment with a record date of August 21, 2026
  • Derivative price: $9.3 per phantom share, described as a convenience conversion of 47.99 BRL per share at a Central Bank of Brazil exchange rate of 5.1619 BRL per 1.00 USD on August 21, 2026, less the aggregate gross value of dividends with ex-dividend date on the same day
  • Beneficial ownership following transaction: 21,218.72 phantom shares held directly, with an underlying security amount of 148.13 PETR3 shares
  • Vesting structure: According to the filing, the deferred portion of the award vests in four equal annual instalments, with additional phantom shares credited proportionally upon dividend or interest on equity payments

Petrobras CFO Phantom Share Holdings After August 2026 Dividend Credit

According to the filing, Fernando Sabbi Melgarejo reported a change in his beneficial ownership of derivative securities under the Petrobras Performance Award Program. The transaction, dated August 21, 2026, reflects the crediting of additional phantom shares resulting from a dividend payment by Petrobras, consistent with the program's rules regarding proportional crediting upon dividend or interest on equity payments.

The filing discloses that phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting. The reported conversion price of $9.3 per phantom share is described as derived from a closing price of 47.99 BRL per share on August 21, 2026, converted using a Central Bank of Brazil exchange rate of 5.1619 BRL per 1.00 USD, then reduced by the aggregate gross value of dividends with an ex-dividend date on the same day. Following the reported transaction, Melgarejo beneficially owned 21,218.72 phantom shares directly, with a corresponding underlying PETR3 share amount of 148.13.

The filing also notes that the deferred portion of the Performance Award Program vests in four equal annual instalments. No non-derivative securities transactions were reported in Table I of this filing. The form was filed by one reporting person and was signed by Fernando Sabbi Melgarejo on August 21, 2026.

What Was Disclosed

The filing disclosed a change in the CFO's beneficial ownership of phantom shares under the Petrobras Performance Award Program, attributable to additional shares credited following a company dividend payment on August 21, 2026, bringing his total directly held phantom shares to 21,218.72.