Banco Santander (Brasil) S.A. Board Holds Routine Meeting Jan 24

TL;DR

**Santander Brasil's board met on Jan 24, just a routine governance update.**

AI Summary

On January 24, 2024, Banco Santander (Brasil) S.A.'s Board of Directors held a meeting via videoconference, with all members present. This 6-K filing simply reports the occurrence of this routine board meeting, indicating standard corporate governance. For investors, this filing itself doesn't contain new financial data or strategic shifts, but rather confirms ongoing operational oversight by the board, which is a positive sign of stable management.

Why It Matters

This filing confirms that Banco Santander (Brasil) S.A.'s Board of Directors is actively meeting and overseeing the company, which is a fundamental aspect of good corporate governance and operational stability.

Risk Assessment

Risk Level: low — This filing is a standard procedural report of a board meeting and does not introduce any new financial or operational risks.

Analyst Insight

Investors should view this as a routine update confirming standard corporate governance. No immediate action is warranted based solely on this filing, but it reinforces the company's adherence to reporting requirements.

Key Players & Entities

• Banco Santander (Brasil) S.A. (company) — the registrant filing the 6-K
• Board of Directors (company) — the governing body that met
• Deborah Ster (person) — mentioned as part of the meeting board

FAQ

Filing Documents

• bsbr20240124_6k.htm (6-K) — 33KB
• bsbr202401246k_001.jpg (GRAPHIC) — 2KB
• 0001292814-24-000187.txt ( ) — 38KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January, 2024 Commission File Number: 001-34476 BANCO SANTANDER (BRASIL) S.A. (Exact name of registrant as specified in its charter) Avenida Presidente Juscelino Kubitschek, 2041 and 2235 Bloco A – Vila Olimpia So Paulo, SP 04543-011 Federative Republic of Brazil (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F ___X___ Form 40-F _______ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes _______ No ___X____ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes _______ No ___X____ Indicate by check mark whether by furnishing the information contained in this Form, the Registrant 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____ If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A BANCO SANTANDER (BRASIL) S.A. Public Company with Authorized Capital Corporate Taxpayer´s Registry No. 90.400.888/0001-42 Company Registry No. 35.300.332.067 Minutes of the Board of Directors Meeting held on January 24, 2024 DATE, TIME AND PLACE : On January 24, 2024, at 3 p.m., by videoconference, the Board of Directors of Banco Santander (Brasil) S.A. (“Company” or “Santander”) have met, with the attendance of all of its members. CALL NOTICE AND NOTICE: The call notice was dismissed due to the attendance of the Directors fully representing the Company’s Board of Directors. MEETING BOARD: Deborah Stern Vieitas, Chairman. Daniel Pareto, Secretary. AGENDA: To approve the new buyback program of Units or American Depositary Receipts (“ADRs”) issued by the Company (“Buyback Program”), pursuant to CVM Resolution No. 77 of March 29 th , 2022 (“CVM Resolution 77”). RESOLUTIONS: The matter was discussed, and all the Directors approved the new buyback program of (i) Units, each representing one (1) common share and one (1) preferred share issued by the Company, or (ii) ADRs, by the Company or by its branch in Cayman, to be held in treasury or subsequently sold, according to Schedule I . The Buyback Program shall respect the following conditions: (i) Scope and purpose of the Buyback Program : The buyback has the purpose (1) to maximize the creation of value to shareholders by means of an efficient capital structure management; and (2) to enable the payment of officers, directors, management level employees and other employees of the Company and companies under its control, in accordance with the National Monetary Council Resolution No. 3921, of November 25 th , 2010, pursuant to the Long Term Incentive Plans; (ii) Amount to be purchased : up to 36,205,005 Units, representing 36,205,005 common shares and 36,205,005 preferred shares, or ADRs, corresponding, on December 31 st , 2023, to approximately 1% of the Company´s total capital stock, to be purchased by the Company or by its branch in Cayman, being certain that the effective buyback of the total number of shares just established shall observe, at the acquisition moment, the limit set forth on Article 9 of CVM Resolution 77; (iii) Term for the purchase : eighteen (18) months from February 06, 2024, expiring on August 06, 2025; (iv) Amount of outstanding shares/Units (free float): the Company had, on December 31 st , 2023, 348,147,839 outstanding common shares and 375,952,252 outstanding preferred shares (excluding treasury shares; shares held by the Company's controllers and administrators); (v) Available funds : according to the latest financial information of the Company regarding the accrued balance until December, 2023, the Company has available funds in the amount of R$ 28.47 billion in its capital reserve and revenues reserve accounts (excluding the legal reserve). The effective buyback shall depend of the existence of available funds at the acquisition moment, pursuant to Article 8 of CVM Resolution 77; (vi) Amount of shares held in treasury: the Company held, on December 31 st , 2023, 27,192,697 common shares and 27,192,697 preferred shares in treasury; and (vii) Authorized brokers: in Brazil : Santander Corretora de Câmbio e Valores Mobiliários S.A., enrolled with the CNPJ/MF under No. 51.014.223/0001-49, with headquarters at Av. Presidente Juscelino Kubistchek, No. 2041 – CJ 241, Bloco A, Cond. Wtorre JK - Vila Nova Conceição – São Paulo – SP – CEP 04543-01

View Full Filing

View this 6-K filing on SEC EDGAR