Management Compensation

The management proposal approved at the General Meeting on July 29, 2022, includes the setting of the annual global compensation of the administrators (Board of Directors and Executive Board) at up to R$ 54,810,102.18 (fifty-four million, eight hundred and ten thousand, one hundred and two reais and eighteen cents), of which R$ 8,574,053.28 (eight million, five hundred and seventy-four thousand, fifty-three reais and twenty-eight cents) refer to fees (fixed remuneration, and benefits) of the Boards of Directors; R$ 46,236,048.90 (forty-six million, two hundred and thirty-six thousand, forty-eight reais and ninety cents) from the Executive Board, of which R$ 36,817,373.92 (thirty-six million, eight hundred and seventeen thousand, three hundred and seventy-three reais and ninety-two cents) refer to the fees (fixed, variable and benefits) of the Executive Board and R$ 9,418,674.98 (nine million, four hundred and eighteen thousand, six hundred and seventy-four reais and ninety-eight cents) refer to the limit for granting virtual stock options (if they are granted to the administrators, by the Board of Directors' exclusive and discretionary decision during this year). The exercise value of virtual options granted in previous years will not be considered in this limit, as they are subject to variations in the term and market value of the inherent shares.

For further details please click here to see the management proposal (portuguese only).