Aura Minerals (AUGO) Director Sousa Mauad Bruno Converts BDRs, Sells 32,000 Shares

What Happened

• Sousa Mauad Bruno, a director of Aura Minerals (AUGO), executed a set of derivative conversions and sales on September 24, 2026. The filing shows an acquisition of 8,000 common shares via conversion (reported at a weighted avg price of $83.14; total $665,113) and disposals of 24,000 shares via derivative conversion (weighted avg $27.74; total $665,818) plus an open-market/private sale of 32,000 shares at $27.53 (total $881,011). The two disposals together generated roughly $1.547 million in proceeds.
• The 8,000-share “acquisition” was effectively funded by sales of Brazilian Depositary Receipts (BDRs), so this was largely a conversion from BDRs to common shares rather than a fresh cash-funded purchase.

Key Details

• Transaction date: September 24, 2026.
  • Acquired (Conversion): 8,000 shares @ $83.14, total $665,113 (weighted avg; multiple prices in $83.00–$83.60 range — see footnote F1).
  • Disposed (Conversion): 24,000 shares @ $27.74, total $665,818 (BDRs sold at R$143.69/BDR converted to USD — see F3).
  • Disposed (Sale): 32,000 shares @ $27.53, total $881,011 (settlement of a cash-settled TRS at $27.53 — see F4).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Notable footnotes: BDRs represent common shares (3 BDRs = 1 common share, F2). Several prices reported are weighted averages from multiple trades; the reporter says full breakdowns are available on request (F1, F3). Proceeds from BDR sales were used to acquire common shares (conversion), per the filing.
• Filing timing: Form 4 was filed Sep 28, 2026 for Sep 24 transactions (filed 4 days after transactions), which is outside the typical 2-business-day reporting window.

Context

• These transactions involve conversions of BDRs and a cash-settled total return swap (TRS) — effectively a restructuring of holdings rather than a straightforward market purchase. The 8,000-share conversion was funded by selling BDRs, so it does not necessarily reflect a new cash investment by the director.
• Routine administrative conversions and derivative settlements are common and do not by themselves indicate the insider’s view on the stock. The report includes a standard disclaimer that the reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.