Grupo Cibest (CIB) ties board pay to SVA fund with 2-year lockup
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Grupo Cibest S.A. explains how its Board of Directors is compensated and clarifies a prior communication. Under the compensation policy approved by shareholders, 70% of each director’s pay is in cash and 30% is contributed to the SVA Institutional Fund managed by Protección S.A., which mainly invests in Grupo Cibest shares.
Each contribution to the SVA Fund has a two-year holding period. The company states that the Board’s authorization for Luis Fernando Restrepo Echavarría allows him to redeem only those SVA Fund participation units that have already fulfilled this holding requirement.
Positive
- None.
Negative
- None.
Key Figures
Board cash compensation share: 70% of compensation
Board SVA Fund compensation share: 30% of compensation
SVA Fund holding period: Two-year holding period
3 metrics
Board cash compensation share
70% of compensation
Board of Directors compensation policy approved by shareholders
Board SVA Fund compensation share
30% of compensation
Contributions to SVA Institutional Fund invested mainly in company shares
SVA Fund holding period
Two-year holding period
Applies to each SVA Institutional Fund contribution for directors
Key Terms
Board of Directors compensation policy, SVA Institutional Fund, holding period, units of participation, +1 more
5 terms
Board of Directors compensation policy financial
"pursuant to the current Board of Directors compensation policy approved by Grupo Cibest’s Shareholders’ Meeting"
SVA Institutional Fund financial
"paid through a contribution to the SVA Institutional Fund (the “SVA Fund”) managed by Protección S.A."
holding period financial
"Each contribution is subject to a two (2) year holding period."
units of participation financial
"to partially redeem units of participation in the SVA Fund that have already satisfied the applicable holding period requirement."
foreign private issuer regulatory
"REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16"
A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.
