$BBD · BANK BRADESCO
Director Denise Aguiar Alvarez reported purchasing 1,950,000 shares of Bank Bradesco across 12 open-market transactions at prices ranging from $17.14 to $17.26, totaling $33,581,299.08. No 10b5-1 trading plan was used. Post-transaction, Aguiar holds 8,344,984 shares.
- Director Denise Aguiar purchased 1,950,000 shares for $33,581,299.08 total across 12 separate transactions.
- Prices ranged from $17.14 to $17.26 per share, all executed on the same filing date.
- Post-transaction, Aguiar holds 8,344,984 shares directly.
- No 10b5-1 plan was used — purchases were discretionary open-market buys.
- This is one of the largest single-filing insider purchases by dollar value for a Brazilian bank ADR.
BBD is up +19.78% today to $4.37, though the Form 4 purchase prices ($17.14–$17.26) reflect the NYSE-listed ADR at a different ratio or class. The +1.44% move since filing time suggests the insider buy is being read as a confidence signal but is not the primary driver of today's outsized rally.
A $33.6M discretionary insider purchase by a sitting director is an exceptionally large confidence signal, especially without a 10b5-1 plan.
Large insider buys at Brazilian banks are rare and notable; peer Itaú (ITUB) and Banco Santander Brasil (BSBR) have not seen comparable director-level open-market purchases recently.
Insider purchases signal confidence but do not guarantee future performance; the ADR price discrepancy ($4.37 vs. $17+ filing prices) warrants verification of share class or ratio.
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