SEC FORM 3

SEC FORM 3SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

De Souza Portes Meirelles Gustavo

(Last)

(First)

(Middle)

C/O AFYA LIMITED

RUA PARAIBA NO. 330 17TH FL FUNCIONARIOS

(Street)

BELO HORIZONTE

MINAS GERAIS

30130-917

(City)

(State)

(Zip)

BRAZIL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Afya Ltd [ AFYA ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Vice President

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Share	2,537	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option (Right to Buy)	05/01/2025⁽¹⁾	05/01/2028	Class A Common Share	12,000	$79.91⁽²⁾	D
Stock Option (Right to Buy)	05/01/2026⁽¹⁾	05/01/2029	Class A Common Share	12,000	$79.91⁽²⁾	D
Stock Option (Right to Buy)	05/01/2027⁽¹⁾	05/01/2030	Class A Common Share	12,000	$79.91⁽²⁾	D
Stock Option (Right to Buy)	05/01/2028⁽¹⁾	05/01/2031	Class A Common Share	12,000	$79.91⁽²⁾	D
Stock Option (Right to Buy)	05/01/2029⁽¹⁾	05/01/2032	Class A Common Share	12,000	$79.91⁽²⁾	D
Restricted Stock Unit	⁽³⁾	⁽³⁾	Class A Common Share	31,500	⁽³⁾	D

Explanation of Responses:

1. The options fully vest and become exercisable three years prior to the expiration date, subject to the Reporting Person's continued service through the applicable vesting dates.

2. The exercise price is denominated in Brazilian Reais.

3. Represents Class A Common Shares subject to outstanding restricted stock units ("RSUs"). The RSUs have no expiration date and will vest as to 7,000, 10,500 and 14,000 shares on the first day of May in 2026, 2027 and 2028, respectively, subject to the Reporting Person's continued service through the applicable vesting dates.

	/s/ Gustavo de Souza Portes Meirelles	03/18/2026
	** 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 5 (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 3: SEC 1473 (03-26)

SEC Form 3 filed by new insider De Souza Portes Meirelles Gustavo