Aura Minerals (AUGO) Director Bruno Sousa Mauad Converts BDRs to Shares

What Happened

• Bruno Sousa Mauad, a director of Aura Minerals (AUGO), effected conversions of derivative securities on September 18, 2026. He acquired a total of 70,000 common shares through four conversion transactions (15,823 @ $86.84 = $1,374,136; 51,608 @ $87.46 = $4,513,631; 1,469 @ $88.41 = $129,869; 1,100 @ $89.58 = $98,536 — total ≈ $6,116,172).
• At the same time he disposed of 210,000 derivative/BDR units in two related transactions (208,381 @ $29.03 = $6,050,134; 1,619 @ $29.80 = $48,254 — total ≈ $6,098,388). The filing and footnotes indicate these disposals of BDRs funded the purchases, i.e., a conversion of BDR/derivative interests into common shares rather than a traditional buy or sale for market speculation.

Key Details

• Transaction date: September 18, 2026; Form 4 filed September 21, 2026. Filing appears within the routine timeframe shown on the form.
• Acquired: 70,000 common shares for a combined ≈ $6,116,172 (weighted-average prices reported; see footnotes for price ranges).
• Disposed: 210,000 derivative/BDR units for a combined ≈ $6,098,388 (weighted-average BRL prices converted to USD per footnotes).
• Notable footnotes: weighted-average price ranges for the purchases (footnotes F1–F4) and sales (F6–F7); F5 notes 3 BDRs = 1 common share; proceeds from BDR sales were used to buy the common shares (conversion).
• Shares owned after transaction: not specified in the excerpt provided.
• Transaction code: (C) — conversion of derivative security. No 10b5-1 plan, tax withholding or late-filing flag mentioned in the provided excerpt.

Context

• BDRs are Brazilian Depositary Receipts representing common shares (footnote F5). The filing describes a conversion process where BDRs/derivative holdings were sold and the proceeds used to purchase common shares, effectively shifting economic exposure from BDRs to direct common shares.
• This is not a straightforward buy (P) or sale (S) in the open market but a conversion of derivative/BDR positions into common stock; such conversions are often administrative/structural and do not by themselves signal management intent beyond changing the form of ownership.