William Franca da Silva, Chief Product Officer of Petrobras - Petroleo Brasileiro SA (NYSE:PBR), filed a Form 4 on August 21, 2026, reporting a change in beneficial ownership of phantom shares under the company's Performance Award Program.

Key Highlights

  • Reporting person: Da Silva William Franca, identified as Chief Product Officer of Petrobras - Petroleo Brasileiro SA.
  • Transaction date: August 21, 2026, with 490.05 additional phantom shares credited due to a Petrobras dividend payment with a record date of August 21, 2026.
  • Resulting position: 34,167.34 phantom shares beneficially owned directly following the reported transaction.
  • Reference price: $9.3 per phantom share, converted from 47.99 BRL using a Central Bank of Brazil exchange rate of 5.1619 BRL per 1.00 USD on August 21, 2026.
  • Settlement terms: Phantom shares are referenced to the PETR3 common share price and are settled in cash upon vesting, with the deferred portion vesting in four equal annual instalments.
  • Dividend credit mechanism: Additional phantom shares are credited proportionally upon payment of dividends or interest on equity by the company, per the Petrobras Performance Award Program's rules.

Petrobras Performance Award Program: Phantom Share Credit on Dividend Record Date

According to the filing, William Franca da Silva, serving as Chief Product Officer at Petrobras - Petroleo Brasileiro SA (NYSE:PBR), received 490.05 additional phantom shares on August 21, 2026. The filing states these shares were "credited as a result of dividend payment by Petrobras (record date of August 21st, 2026), as provided by Petrobras Performance Award Program's rules." No cash purchase or open-market transaction was involved in the acquisition.

The filing describes phantom shares as instruments "granted pursuant to the Petrobras Performance Award Program," referenced to the PETR3 common share price and settled in cash upon vesting. The deferred portion of the award vests in four equal annual instalments, and additional phantom shares are credited proportionally when Petrobras pays dividends or interest on equity. Following the reported transaction, da Silva directly holds 34,167.34 phantom shares in total.

The price reported in the filing, $9.3 per share, is described as "a convenience conversion of the 47.99 BRL per share into U.S. dollars based on the Central Bank of Brazil exchange rate of 5.1619 BRL per 1.00 USD on August 21st, 2026," and reflects the closing price on that date less the aggregate gross value of dividends with an ex-dividend date on the same day. The foreign trading symbol referenced in the filing is PETR3.

What Was Disclosed

The filing reported a derivative security transaction for the Chief Product Officer of Petrobras, reflecting 490.05 phantom shares credited under the Performance Award Program following a dividend payment, bringing his directly held phantom share total to 34,167.34.