Business Context and Reporting Period
This Form 6-K filing by Banco Bradesco S.A. (Bank Bradesco) covers the month of April 2017. The report is a consolidated disclosure of transactions involving securities and derivatives conducted by the company's administration, family dependents, and controlled/related entities, in accordance with Instruction CVM No. 358/2002, Paragraph 11. The filing was signed on May 11, 2017.
Key Financial Metrics and Shareholder Activity
The filing does not contain consolidated financial statements, revenue, profit, or cash flow data for the period. Instead, it details specific share transactions by insiders and related parties:
- Group and Family Dependents:
- Opening Balance: 18,949,111 Common Shares; 28,294,920 Non-Voting Shares.
- Activity: Net sale of 393,396 Non-Voting Shares. Total sales value was approximately R$ 12.58 million, while purchases totaled R$ 7,936.
- Closing Balance: 18,949,111 Common Shares; 27,901,524 Non-Voting Shares.
- Board of Executive Officers:
- Opening Balance: 69,168 Common Shares; 3,093,201 Non-Voting Shares.
- Activity: Net sale of 32,751 Non-Voting Shares. Total sales value was approximately R$ 1.09 million.
- Closing Balance: 69,168 Common Shares; 3,060,450 Non-Voting Shares.
- Bradesco S.A. Corretora de Títulos e Valores Mobiliários (Controlled Company):
- Activity: Net purchase of 4,183 Common Shares and 1,999 Non-Voting Shares.
- Closing Balance: 1,334 Common Shares; 11,510 Non-Voting Shares.
- Treasury: No operations reported. Holdings remained at 4,575,045 Common Shares and 17,141,588 Non-Voting Shares.
Material Changes
The primary material change reported is the reduction in shareholdings by the Group and Family Dependents and the Board of Executive Officers during April 2017. The Group and Family Dependents reduced their Non-Voting share position by approximately 1.4% (from 28.3M to 27.9M shares). The Board of Executive Officers reduced their Non-Voting share position by approximately 1.1%. No changes were reported for the Treasury or the vast majority of controlled/related companies listed in the filing.
Guidance, Outlook, and Risks
The filing includes a standard Forward-Looking Statements disclaimer. It notes that any statements regarding future economic circumstances, industry conditions, company performance, dividend declarations, or capital expenditure plans are based on management's current views and estimates. The document explicitly states that there is no guarantee that expected events or trends will occur and that actual results may differ materially due to risks and uncertainties.
Important Facts for Investor Verification
- Insider Selling: Verify the intent behind the net sales of approximately 426,000 Non-Voting shares by the controlling family group and executive officers in April 2017.
- Share Price Range: Transactions occurred with Non-Voting shares trading between approximately R$ 31.45 and R$ 33.64 during the month.
- Control Structure: The Group and Family Dependents maintained a controlling interest, holding approximately 36.53% of Common Shares and 1.13% of Non-Voting Shares (totaling significant voting power) at the close of the period.
- Scope of Filing: Confirm that this document is a regulatory disclosure of insider transactions and does not replace the company's quarterly financial results (Form 20-F or local reports).