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Braskem S.A. is postponing its previously scheduled extraordinary shareholders’ meeting and reconvening it digitally on June 8, 2026 at 3 p.m. via Webex. Shareholders will vote on a broad reformulation of the bylaws to clarify wording, update governance rules and reflect a new shareholders’ agreement.
The agenda includes formalizing several board committees in the bylaws, such as Finance and Investment; Strategy, Sustainability and Communication; People and Organization; and Safety, Environment and Health. Shareholders will also decide whether to align the Executive Board’s term to a new two‑year cycle that coincides with the Board of Directors’ mandate that began after the April 29, 2026 annual meeting.
Braskem S.A. reports a change in the composition of its Statutory Compliance and Audit Committee (CCAE). The Board of Directors approved the election and re-election of five members, all classified as independent under Brazilian corporate governance rules, with a term lasting until the first Board meeting after the 2028 Annual General Meeting.
The committee will include Board members Gesner José de Oliveira Filho (who remains the CCAE Coordinator), Paulo Roberto Britto Guimarães and José Mauro Mettrau Carneiro da Cunha, plus external independent members and financial experts Gustavo Raldi Tancini and Maria Helena Pettersson. The notice highlights their extensive experience in governance, auditing, accounting, regulation and infrastructure, reinforcing the company’s oversight and compliance structure.
BRASKEM SA executive Carlos Plachta, Chief Consumer & Log Officer, filed an initial Form 3 as a reporting person of the company. The filing does not list any equity or derivative holdings and shows no reported transactions, serving as a baseline disclosure of his insider status.
Braskem S.A. explains the financial challenges at its subsidiary Braskem Idesa and responds to a regulator query about media reports. The company reiterates that Braskem Idesa is evaluating ways to reorganize its capital structure and is in ongoing discussions with an ad hoc group of its financial creditors.
Braskem Idesa previously failed to pay scheduled interest due on its senior secured notes maturing in 2029 and 2032 on November 18, 2025 and February 20, 2026. Braskem also highlights its Equity Support Agreement for Mexican terminal operator TQPM, under which it guaranteed 50% of TQPM’s financing balance as of the end of March 2026.
The company notes that potential protective measures for Braskem Idesa, including a possible Chapter 11 process in the U.S., could affect Braskem and its control of Braskem Idesa, as well as the equity support guarantee. Braskem states that, as of this date, no decision has been made on which alternative or combination of alternatives will be implemented.
BRASKEM SA director Jeronimo dos Santos Julio Cezar filed an initial Form 3 to report his status as an insider of the company. The filing shows no reported purchases, sales, gifts, or other transactions and lists no derivative positions or holding entries at this time.
Braskem reported a sharp rebound in operating results for 1Q26 but under significant financial strain. Recurring EBITDA reached US$192 million, up 76% versus 4Q25, with an EBITDA margin of 6.5%. Utilization rates improved in Brazil to 69% and in U.S. & Europe to 79%, though Mexico’s operations generated a negative recurring EBITDA of US$15 million due to lower ethane supply and import restrictions.
Cash usage was heavy: recurring cash consumption was driven mainly by a negative change in working capital and interest payments, contributing to US$8.5 billion in adjusted net debt and corporate leverage of 16.81x. Gross debt stood at US$9.4 billion with about 61% maturing from 2030 onward and an average term of ~7.4 years. Provisions related to the Alagoas geological event totaled R$18.1 billion, with a remaining provision balance of about R$3.4 billion as of March 2026. Credit ratings remained distressed, with Fitch at CC and S&P at CCC- with a negative outlook.
Braskem SA director Andrea Barcellos de Aragao filed an initial Form 3 insider ownership report. This filing identifies her as a director of the company but does not show any share purchases, sales, or other transactions, serving only as a baseline disclosure of insider status.
BRASKEM SA director Andre da Costa Santos submitted an initial Form 3, which is the first statement of beneficial ownership required for insiders. The filing shows no reported transactions or derivative positions, indicating no buy or sell activity disclosed in this report.
Braskem reports a difficult but mixed first quarter of 2026. Consolidated Recurring EBITDA reached US$192 million (R$1,006 million), up 76% from 4Q25, helped by stronger results in Brazil/South America and in the United States and Europe, including around US$32 million COGS benefit from the expanded REIQ tax credits.
Despite better operating margins, cash generation and leverage remain pressured. Braskem consumed R$3.2 billion in operating cash and around R$4.6 billion in recurring cash, largely due to working capital swings and semiannual interest on international bonds. Adjusted net debt rose to US$8.483 billion, and corporate leverage climbed to 16.81x Recurring EBITDA, with consolidated gross debt of US$12.046 billion and significantly lower cash. Provisions related to the Alagoas geological event totaled R$3.367 billion at quarter-end, with cumulative provisioned amounts of R$18.096 billion and R$15.603 billion already paid or reclassified, while 99.9% of affected residents have been relocated. Subsidiary Braskem Idesa continues debt negotiations after missing interest payments on 2029 and 2032 notes and now carries default-level credit ratings, adding to the group’s restructuring agenda.
Braskem S.A. reported a net profit of R$1,246 million for the quarter ended March 31, 2026, with consolidated net revenue of R$15,488 million. Despite this profit, the balance sheet shows serious financial stress.
According to KPMG’s review, current liabilities exceeded total assets by R$10,718 million on a consolidated basis, and shareholders’ equity was negative R$16,233 million. The auditors highlighted a material uncertainty that may cast significant doubt on Braskem’s ability to continue as a going concern.
Subsidiary Braskem Idesa is in a prolonged industry downturn, has defaulted on interest for 2029 and 2032 bonds, and its debt was reclassified to current. Braskem is negotiating capital structure reorganization, faces high leverage and liquidity pressure, but also benefits from recent Brazilian tax and trade measures that support the domestic chemical industry.