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Ultrapar Participações S.A. has disclosed its Corporate Executive Compensation Policy, detailing the compensation structure for its board, fiscal council, and executive officers, including fixed and variable components, share-based incentives, and governance procedures.
Key Takeaways
1Board members receive 60% of fixed fees in cash and 40% in a single share grant at the beginning of their term, with a 2-year vesting and 2-year lock-up period.
2Statutory Executive Officers have variable compensation linked to short-term financial goals (EBITDA, operational cash flow) and long-term stock-based incentives measured by TSR and EVA over three-year periods.
3Executive Officers are subject to Stock Ownership Guidelines requiring minimum shareholdings, such as 5 times annual fixed compensation for the CEO and 3 times for the CFO and business CEOs.
4Long-term incentive agreements include a malus clause allowing retention of unvested shares in cases of fraud or material mistakes in financial statements.
5The People and Sustainability Committee supervises the policy and proposes revisions to the Board of Directors, with aggregate compensation determined by the General Shareholders' Meeting.