Aura Minerals director swaps BDRs for shares

A director-linked investment entity converted 210,000 Aura Minerals BDRs into 70,000 common shares in matched transactions.

Rhea-AI Filing Summary

Aura Minerals Inc. (AUGO) director Bruno Sousa Mauad reported transactions on September 18, 2026 in which an affiliated entity, Kapitalo Investimentos, converted its exposure from Brazilian Depositary Receipts (BDRs) into common shares. The entity sold BDRs indirectly and used the proceeds to acquire an equivalent interest in Aura Minerals common shares, with no net change in overall economic exposure disclosed.

Insider Trade Summary

210,000 shares exercised/converted

Exercise 6 txns

Insider Sousa Mauad Bruno

Role Director

Type	Security	Shares	Price	Value
Conversion	Brazilian Depositary Receipts F5, F6	208,381	$29.034	$6.05M
Conversion	Brazilian Depositary Receipts F5, F7	1,619	$29.8049	$48K
Conversion	Common Shares F1	15,823	$86.8442	$1.37M
Conversion	Common Shares F2	51,608	$87.4599	$4.51M
Conversion	Common Shares F3	1,469	$88.4064	$130K
Conversion	Common Shares F4	1,100	$89.5782	$99K

Holdings After Transaction: Brazilian Depositary Receipts — 12,789,310 contracts (Indirect, By Kapitalo Investimentos); Common Shares — 134,441 shares (Indirect, By Kapitalo Investimentos)

Footnotes (7)

1. F1. The price reported is a weighted average price. These shares were bought in multiple transactions at prices ranging from $86.16 to $87.10, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (1) to this Form 4. The source of funds for the purchase was the sale of an equivalent number of BDRs, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table II below.
2. F2. The price reported is a weighted average price. These shares were bought in multiple transactions at prices ranging from $87.11 to $88.00, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (2) to this Form 4. The source of funds for the purchase was the sale of an equivalent number of BDRs, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table II below.
3. F3. The price reported is a weighted average price. These shares were bought in multiple transactions at prices ranging from $88.13 to $88.95, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (3) to this Form 4. The source of funds for the purchase was the sale of an equivalent number of BDRs, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table II below.
4. F4. The price reported is a weighted average price. These shares were bought in multiple transactions at prices ranging from $89.33 to $89.76, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (4) to this Form 4. The source of funds for the purchase was the sale of an equivalent number of BDRs, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table II below.
5. F5. BDRs are certificates representing Common Shares of the Issuer. Three BDRs represent one Common Share of the Issuer.
6. F6. The price reported is a weighted average price. These BDRs were sold in multiple transactions at prices ranging from $28.68 to $29.61, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of BDRs sold at each separate price within the ranges set forth in footnote (6) to this Form 4. The weighted average price, R$149.74 Brazilian reais ("BRL") per BDR, has been converted to U.S. dollars ("USD") using the Banco Central do Brasil's conversion rate as of September 18, 2026. The proceeds of the sale were used to purchase an equivalent number of common shares, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table I above.
7. F7. The price reported is a weighted average price. These BDRs were sold in multiple transactions at prices ranging from $29.63 to $29.92, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of BDRs sold at each separate price within the ranges set forth in footnote (7) to this Form 4. The weighted average price, R$153.72 Brazilian reais ("BRL") per BDR, has been converted to U.S. dollars ("USD") using the Banco Central do Brasil's conversion rate as of September 18, 2026. The proceeds of the sale were used to purchase an equivalent number of common shares, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table I above.

Key Figures

BDRs sold: 210,000 Brazilian Depositary Receipts Common shares acquired: 70,000 common shares BDR to common share ratio: 3 BDRs per 1 common share +2 more

5 metrics

BDRs sold 210,000 Brazilian Depositary Receipts Indirectly disposed by Kapitalo Investimentos on September 18, 2026

Common shares acquired 70,000 common shares Indirectly acquired by Kapitalo Investimentos on September 18, 2026

BDR to common share ratio 3 BDRs per 1 common share Stated relationship between Aura Minerals BDRs and common shares

Weighted average BDR sale prices $29.03 and $29.80 per BDR Two BDR sale transactions with prices converted from BRL to USD

Weighted average common share purchase prices About $86.84–$89.58 per share Four common share purchases at weighted average prices within disclosed ranges

Key Terms

Brazilian Depositary Receipts, weighted average price, pecuniary interest, Banco Central do Brasil

4 terms

Brazilian Depositary Receipts financial

"BDRs are certificates representing Common Shares of the Issuer."

Brazilian Depositary Receipts (BDRs) are certificates traded on Brazilian exchanges that represent ownership of shares in foreign companies, allowing local investors to buy and sell exposure to those overseas stocks without opening foreign brokerage accounts. They matter because they let investors diversify across global companies using local currency and trading hours, similar to buying a locally issued voucher for a foreign product, while still exposing portfolios to the performance and risks of the underlying foreign shares.

weighted average price financial

"The price reported is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

pecuniary interest financial

"except to the extent of its pecuniary interest, if any, therein"

Banco Central do Brasil financial

"using the Banco Central do Brasil's conversion rate as of September 18, 2026"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Aura Minerals Inc. (AUGO) report in this Form 4?

On September 18, 2026, an entity associated with director Bruno Sousa Mauad sold 210,000 BDRs and used the proceeds to buy 70,000 Aura Minerals common shares, effectively converting its interest from BDRs into common equity.

Who executed the Aura Minerals (AUGO) trades reported, and how is ownership held?

The trades were reported for director Bruno Sousa Mauad but the securities are held indirectly through Kapitalo Investimentos. The reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.

What is the relationship between Aura Minerals BDRs and common shares in this filing?

The filing states that three BDRs represent one common share of Aura Minerals. The 210,000 BDRs sold correspond to 70,000 common shares acquired, matching this 3:1 ratio.

Were the Aura Minerals (AUGO) insider transactions under a Rule 10b5-1 trading plan?

No Rule 10b5-1 trading plan is reported. The document-level checkbox is not marked as affirming a 10b5-1 plan, and the footnotes do not describe the transactions as executed under such a plan.

What prices were involved in the BDR and share trades for Aura Minerals (AUGO)?

BDRs were sold at weighted average prices of about $29.03 and $29.80 per BDR, and common shares were bought at weighted average prices around $86.84–$89.58 per share, each based on multiple trades within stated price ranges.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/21/2026 - 02:44 PM Accepted by SEC EDGAR 09/21/2026 - 02:43 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sousa Mauad Bruno

(Last) (First) (Middle)

C/O AURA TECHNICAL SERVICES INC.

3390 MARY ST, SUITE 116

(Street)

COCONUT GROVE FLORIDA 33133

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Aura Minerals Inc. [ AUGO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	09/18/2026		C		15,823	A	$86.8442(1)	80,264	I	By Kapitalo Investimentos
Common Shares	09/18/2026		C		51,608	A	$87.4599(2)	131,872	I	By Kapitalo Investimentos
Common Shares	09/18/2026		C		1,469	A	$88.4064(3)	133,341	I	By Kapitalo Investimentos
Common Shares	09/18/2026		C		1,100	A	$89.5782(4)	134,441	I	By Kapitalo Investimentos

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Brazilian Depositary Receipts	(5)	09/18/2026		C			208,381	(5)	(5)	Common shares, no par value	69,460.33	$29.034(6)	12,790,929	I	By Kapitalo Investimentos
Brazilian Depositary Receipts	(5)	09/18/2026		C			1,619	(5)	(5)	Common shares, no par value	539.67	$29.8049(7)	12,789,310	I	By Kapitalo Investimentos

Explanation of Responses:

1. The price reported is a weighted average price. These shares were bought in multiple transactions at prices ranging from $86.16 to $87.10, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (1) to this Form 4. The source of funds for the purchase was the sale of an equivalent number of BDRs, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table II below.

2. The price reported is a weighted average price. These shares were bought in multiple transactions at prices ranging from $87.11 to $88.00, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (2) to this Form 4. The source of funds for the purchase was the sale of an equivalent number of BDRs, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table II below.

3. The price reported is a weighted average price. These shares were bought in multiple transactions at prices ranging from $88.13 to $88.95, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (3) to this Form 4. The source of funds for the purchase was the sale of an equivalent number of BDRs, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table II below.

4. The price reported is a weighted average price. These shares were bought in multiple transactions at prices ranging from $89.33 to $89.76, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares bought at each separate price within the ranges set forth in footnote (4) to this Form 4. The source of funds for the purchase was the sale of an equivalent number of BDRs, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table II below.

5. BDRs are certificates representing Common Shares of the Issuer. Three BDRs represent one Common Share of the Issuer.

6. The price reported is a weighted average price. These BDRs were sold in multiple transactions at prices ranging from $28.68 to $29.61, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of BDRs sold at each separate price within the ranges set forth in footnote (6) to this Form 4. The weighted average price, R$149.74 Brazilian reais ("BRL") per BDR, has been converted to U.S. dollars ("USD") using the Banco Central do Brasil's conversion rate as of September 18, 2026. The proceeds of the sale were used to purchase an equivalent number of common shares, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table I above.

7. The price reported is a weighted average price. These BDRs were sold in multiple transactions at prices ranging from $29.63 to $29.92, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of BDRs sold at each separate price within the ranges set forth in footnote (7) to this Form 4. The weighted average price, R$153.72 Brazilian reais ("BRL") per BDR, has been converted to U.S. dollars ("USD") using the Banco Central do Brasil's conversion rate as of September 18, 2026. The proceeds of the sale were used to purchase an equivalent number of common shares, therefore effectively converting the interest in BDRs to an equivalent interest in common shares. See corresponding transaction in table I above.

Remarks:

Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

	Bruno Sousa Mauad	09/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)