Monitor the pace of actual share repurchases under the program over the next 12 months. The buyback is small relative to market cap (~$5.2B) and primarily for incentive plan purposes, so it is unlikely to provide meaningful price support. No immediate catalyst — wait for next quarterly earnings for fundamental read-through.
Price Chart
Executive Summary
Ultrapar's Board of Directors approved a share buyback program authorizing the repurchase of up to 18,000,000 common shares (1.61% of share capital) over 12 months. The program is intended primarily for the company's stock-based incentive plan, with shares also eligible to be held in treasury, canceled, or sold. The filing is a routine capital allocation decision with no accompanying financial results or guidance.
Key Facts
- Buyback program approved for up to 18,000,000 common shares, representing 1.61% of share capital
- Program runs from June 18, 2026 to June 17, 2027 (12 months)
- Shares may be used for stock-based incentive plan, held in treasury, canceled, or sold
- Company has R$7,662,403,059.12 in profit reserves available for the buyback
- Intermediaries include BTG Pactual, Itaú, J.P. Morgan, Merrill Lynch, Morgan Stanley, and UBS Brasil
Financial Impact
Maximum buyback of 1.61% of outstanding shares; no financial impact disclosed beyond available profit reserves of R$7.66 billion
Risk Factors
- Buyback may not be executed if management deems market conditions unfavorable
- Program primarily for incentive plan, not a signal of undervaluation or capital return to shareholders
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (UGP) — Batch item 1 | 0001554855-26-001358 |
| Document: 0001554855-26-001358-index-headers.html | 0001554855-26-001357 |
| Document: 0001554855-26-001358-index.html | 0001554855-26-001358 |
| Document: 0001554855-26-001358.txt | 0001554855-26-001358 |
| 6-K Filing (UGP) — Batch item 5 | 0001554855-26-001357 |
| Document: 0001554855-26-001357-index-headers.html | 0001554855-26-001358 |
| Document: 0001554855-26-001357-index.html | 0001554855-26-001358 |
| Document: 0001554855-26-001357.txt | 0001554855-26-001358 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 6-K | $6.20 | awaiting T+20 | — | $6.46 (+4.19%) |
Sep 14, 2026 6w ago | Insider Cluster | $7.44 $7.89 | ▼ −6.05% | ▼ −3.79% | $6.46 (+13.17%) |
Sep 14, 2026 6w ago | Insider Cluster | $7.44 $7.89 | ▲ +6.05% | ▲ +3.79% | $6.46 (−13.17%) |
Jun 17, 2026 18w ago | 6-K | $4.80 $6.24 | ▲ +30.00% | ▲ +29.47% | $6.46 (+34.58%) |
Jun 2, 2026 21w ago | 6-K | $5.11 $4.97 | ▼ −2.74% | ▼ −1.17% | $6.46 (+26.42%) |
US Market Status
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