Banco Santander (Brasil) Officer Cabral Mendes Sells 20,000 Shares

What Happened

• Cabral Leonardo Mendes, an officer of Banco Santander (Brasil) S.A., disposed of 20,000 common shares in an open-market sale on September 24, 2026.
• The shares were sold at $5.68 per share, for total proceeds of $113,600. The filing classifies the transaction as a sale (S), not a purchase or option exercise.
• The filing includes a currency-conversion footnote: the sale price is equivalent to R$29.44 per share using the Brazilian Central Bank rate of R$5.1789 = $1.00 on Sep 24, 2026.

Key Details

• Transaction date and price: Sept 24, 2026 — 20,000 shares at $5.68 each.
• Total proceeds: $113,600 (equivalent to R$588,800 at R$29.44/share).
• Shares owned after transaction: not reported in the information provided in this summary (not specified in the supplied filing details).
• Footnotes: F1 notes the BRL-to-USD conversion (R$29.44/share; R$5.1789 per USD on Sept 24, 2026). No 10b5-1 plan, tax-withholding, or other special instructions were disclosed in the provided notes.
• Filing timeliness: Form 4 was filed on Sept 28, 2026; that is within the two-business-day SEC deadline for reporting officer/director trades following the Sept 24 transaction.

Context

• This was a cash sale (disposition) of existing shares rather than a purchase, award, or option exercise. Insider sales disclose liquidity events but do not, by themselves, explain the insider’s reasons or signal a change in company fundamentals.