Ambev Delivers R$130M+ in Restricted Shares in December 2023

TL;DR

**Ambev delivered over R$130 million in restricted shares in December, watch for dilution.**

AI Summary

Ambev S.A. (ABEV) reported transactions in December 2023 involving the delivery of restricted common shares directly with the company. On December 1st, 2023, 3,692,579 common shares were delivered at R$13.69 per share, totaling R$50,551,406.51. On December 3rd, 2023, an additional 5,655,804 common shares were delivered at R$14.08 per share, amounting to R$79,633,720.32. These transactions, totaling over R$130 million, indicate the company is issuing shares, which could dilute existing shareholders if not part of a pre-approved compensation plan, potentially impacting the stock's value.

Why It Matters

These share deliveries could be part of employee compensation or other corporate actions, and understanding their purpose is crucial as they can impact share count and potentially dilute existing shareholders.

Risk Assessment

Risk Level: medium — The delivery of a significant number of restricted shares could lead to dilution if not offset by buybacks or part of a pre-existing, well-understood compensation plan, posing a moderate risk to current shareholders.

Analyst Insight

Investors should monitor Ambev's next earnings report or subsequent filings for details on the purpose of these restricted share deliveries, specifically if they are part of a compensation plan or if they represent new share issuance that could dilute existing holdings. Understanding the impact on the total share count is key.

Key Numbers

• 3,692,579 — Common Shares (quantity delivered on December 1, 2023)
• 5,655,804 — Common Shares (quantity delivered on December 3, 2023)
• R$13.69 — Price per Share (price for shares delivered on December 1, 2023)
• R$14.08 — Price per Share (price for shares delivered on December 3, 2023)
• R$50,551,406.51 — Transaction Volume (total value of shares delivered on December 1, 2023)
• R$79,633,720.32 — Transaction Volume (total value of shares delivered on December 3, 2023)

Key Players & Entities

• Ambev S.A. (company) — the registrant reporting the transactions
• R$13.69 (dollar_amount) — price per common share on December 1, 2023
• R$14.08 (dollar_amount) — price per common share on December 3, 2023
• R$50,551,406.51 (dollar_amount) — total volume for shares delivered on December 1, 2023
• R$79,633,720.32 (dollar_amount) — total volume for shares delivered on December 3, 2023

Forward-Looking Statements

• Ambev's outstanding share count will increase due to these restricted share deliveries. (Ambev S.A.) — medium confidence, target: Q1 2024
• The market will seek further clarification on the purpose of these restricted share deliveries. (Ambev S.A.) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• abevcvm358dec23_6k.htm (6-K) — 29KB
• 0001292814-24-000036.txt ( ) — 30KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of January, 2024 Commission File Number 1565025 AMBEV S.A. (Exact name of registrant as specified in its charter) AMBEV S.A. (Translation of Registrant's name into English) Rua Dr. Renato Paes de Barros, 1017 - 3rd Floor 04530-000 São Paulo, SP Federative Republic of Brazil (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F ___X___ Form 40-F _______ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes _______ No ___X____ INDIVIDUAL FORM Article 11 - CVM Instruction # 358/2002 In December 2023: ( X) the only transactions with securities and derivatives were those presented below, in compliance with Article 11 - CVM Instruction # 358/2002. (1) ( ) no securities and derivatives operations took place, in compliance with Article 11 - CVM Instruction # 358/2002, with my securities and derivatives positions as follows. Company Name: Ambev S.A. Name: Ambev S.A. CPF/CNPJ: 07.526.557/0001-00 Qualification: Outstanding Shares in Treasury Initial Balance Securities / Derivatives Securities Characteristics (2) Quantity Shares Common 13,858,139 ADR Common 0 Transactions in the month Securities / Derivatives Securities Characteristics (2) Intermediary Operation Day Quantity Price Volume (R$) (3) Shares Common Direct with the Company Delivery Restricted Shares 01 3,692,579 13.69 50,551,406.51 Shares Common Direct with the Company Delivery Restricted Shares 03 5,655,804 14.08 79,633,720.32 Shares Common Direct with the Company Delivery Restricted Shares 14 66,766 14.85 991,475.10 Shares Common Direct with the Company Delivery Restricted Shares 19 100,053 14.55 1,455,771,15 Shares Common Direct with the Company Buy - Plan of Shares 20 41,481 13.74 569,948.94 Final Balance Securities / Derivatives Securities Characteristics (2) Quantity Shares Common 4,384,418 ADR Common 0,00 (1) When filling in the form, delete the lines that do not have any information. If there is no acquisition/change in the position of any person in relation to Article 11 - CVM Instruction # 358/2002, send a statement with that information. (2) Issue/Series, convertibility, simple, term, guaranties, type/class, among others. (3) Quantity multiplied by price. (*) Each ADR is equivalent to 1 (one) share. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: January 9, 2024 AMBEV S.A. By: /s/ Lucas Machado Lira Lucas Machado Lira Chief Financial and Investor Relations Officer

View Full Filing

View this 6-K filing on SEC EDGAR