Sousa Mauad Bruno 4
4 · Aura Minerals Inc. · Filed Jun 23, 2026
Research Summary
AI-generated summary of this filing
Aura Minerals (AUGO) Director Bruno Sousa Mauad Sells BDRs via Swap Settlement
What Happened
Bruno Sousa Mauad, a director of Aura Minerals (AUGO), through entities managed by Kapitalo Investimentos, settled cash‑settled total return swaps and recorded derivative dispositions on June 19, 2026. The filing shows dispositions of 57,988 BDRs at $20.68 (≈ $1,199,192) and 9,623 BDRs at $20.86 (≈ $200,736), for combined proceeds of about $1,399,928. He also made a small open‑market purchase of 200 BDRs on June 19 for $21.25 each (≈ $4,250). Several zero‑price “other” entries reflect internal transfers/adjustments and did not change economic exposure.
Key Details
- Transaction dates: June 18–19, 2026; filing date: June 23, 2026 (appears later than the typical two‑business‑day Form 4 deadline).
- Sales (derivative settlements): 57,988 BDRs @ $20.68 = $1,199,192 (F8) and 9,623 BDRs @ $20.86 = $200,736 (F6).
- Purchase: 200 BDRs @ $21.25 = $4,250 (F4 explains USD conversion).
- Zero‑price “Other” entries (29,700 and 10,120 BDRs) reflect transfers/adjustments with no cash consideration.
- Shares owned after transaction: not specified in the supplied filing excerpt.
- Notable footnotes: BDRs = Brazilian Depositary Receipts (3 BDRs = 1 common share) (F1); securities held by entities managed by Kapitalo, for which Mauad may be deemed an indirect beneficial owner (F2); some positions involved securities lending and swap arrangements (F3, F5, F7).
Context
- The large dispositions were settlements of cash‑settled total return swaps (i.e., Kapitalo closed swap exposure and received/paid cash based on settlement prices), not necessarily open‑market block sales of underlying common shares.
- The small open‑market buy (200 BDRs) is a direct purchase and is more informative as a straightforward buy; the swap settlements are derivative transactions reflecting the end of swap exposure.
- Because the securities are held via Kapitalo and some were subject to lending arrangements, beneficial ownership and economic exposure may persist differently than direct shareholdings.
Insider Transaction Report
Form 4
Sousa Mauad Bruno
Director
Transactions
- Other
Brazilian Depositary Receipts
[F1][F2]2026-06-18−29,700→ 15,280,340 total(indirect: See Footnote)→ Common Shares, no par value (9,900 underlying) - Other
Securities Lending Agreement
[F3][F2]2026-06-18+29,700→ 419,506 total(indirect: See Footnote)→ Common Shares, no par value (9,900 underlying) - Other
Brazilian Depositary Receipts
[F1][F2]2026-06-19−10,120→ 15,270,220 total(indirect: See Footnote)→ Common Shares, no par value (3,373.33 underlying) - Other
Securities Lending Agreement
[F3][F2]2026-06-19+10,120→ 429,626 total(indirect: See Footnote)→ Common Shares, no par value (3,373.33 underlying) - Purchase
Brazilian Depositary Receipts
[F1][F4][F2]2026-06-19$21.25/sh+200$4,250→ 15,270,420 total(indirect: See Footnote)→ Common Shares, no par value (66.67 underlying) - SaleSwap
Cash-Settled Total Return Swap
[F5][F6][F2]2026-06-19$20.86/sh−9,623$200,736→ 378,052 total(indirect: See Footnote)→ Common Shares, no par value (3,207.67 underlying) - SaleSwap
Cash-Settled Total Return Swap
[F7][F8][F5][F2]2026-06-19$20.68/sh−57,988$1,199,192→ 70,278 total(indirect: See Footnote)→ Common Shares, no par value (19,329.33 underlying)
Footnotes (8)
- [F1]Brazilian Depositary Receipts ("BDR") are certificates representing Common Shares, no par value ("Common Shares") of the Issuer. Three BDRs represent one Common Share of the Issuer.
- [F2]The securities are owned directly by entities managed by Kapitalo Investimentos Ltda. ("Kapitalo") and may be deemed to be indirectly beneficially owned by Bruno Sousa Mauad, a partner of Kapitalo.
- [F3]Certain clients managed by Kapitalo entered into securities lending agreements whereby title to the securities of the Issuer transferred to a counterparty for the duration of the arrangement. Notwithstanding the foregoing transactions, such clients may be deemed to continue to have beneficial ownership over the securities reported herein as the arrangements may be discontinued at any time by the clients.
- [F4]The purchase was executed in a sole transaction and the price has been converted to U.S. dollars ("USD") using the Brazilian Central Bank's conversion rate as of June 19, 2026.
- [F5]As previously disclosed, Kapitalo entered into a cash-settled total return swap pursuant to which it will pay any increase in, and receive any decrease in, the price of certain Brazilian Depository Receipts, from an initial price per Brazilian Depository Receipt of BRL107.334. The final valuation date (subject to early termination by the parties) is May 25, 2027.
- [F6]Kapitalo settled their position in a certain cash-settled total return swap agreement pursuant to its terms at a settlement price of $20.86 using the Banco Central do Brasil's conversion rate as of June 19, 2026.
- [F7]As previously disclosed, Kapitalo entered into a cash-settled total return swap pursuant to which it will pay any increase in, and receive any decrease in, the price of certain Brazilian Depository Receipts, from an initial price per Brazilian Depository Receipt of BRL106.404374. The final valuation date (subject to early termination by the parties) is July 31, 2026.
- [F8]Kapitalo settled their position in a certain cash-settled total return swap agreement pursuant to its terms at a settlement price of $20.68 using the Banco Central do Brasil's conversion rate as of June 19, 2026.
Signature
/s/ Bruno Mauad|2026-06-23