Ambev S.A. filed a Form 6-K with the SEC on October 29, 2026, disclosing that its Board of Directors approved a share repurchase program of up to 190,000,000 common shares at a meeting held on October 28, 2026.

Key Highlights

  • Repurchase limit: The program authorizes the buyback of up to 190,000,000 common shares issued by Ambev S.A.
  • Primary purpose: The filing states the primary purpose of the repurchase is cancelation of the shares, with any remaining shares eligible to be held in treasury or used under share-based compensation plans.
  • Program duration: The program will remain in effect until April 28, 2028, according to the filing.
  • Outstanding shares: The company reported 4,043,503,937 outstanding shares as defined under CVM Resolution 77/2022.
  • Balance sheet treatment: The filing states the acquisition will be recorded as a debit on the capital reserve in the balance sheet dated as of September 30, 2026.
  • Executing brokers: Transactions will be carried out through Santander Institucional Corretora de Câmbio e Valores Mobiliários S.A., Ágora Corretora de Títulos e Valores Mobiliários S.A., and Goldman Sachs do Brasil Corretora de Títulos e Valores Mobiliários S.A.

Ambev Discloses Board-Approved Share Repurchase Details

Ambev S.A. (NYSE:ABEV) disclosed in a Form 6-K that its Board of Directors, at a meeting held on October 28, 2026, approved a share buyback program pursuant to article 30, Paragraph 1st, "b", of Law 6,404/76 and CVM Resolution 77/2022. The program permits the repurchase of up to 190,000,000 common shares, with cancelation cited as the primary purpose. Any shares not canceled may be held in treasury, transferred, or delivered under the company's share-based compensation plans, according to the filing.

The filing states that the company had 4,043,503,937 outstanding shares as defined under CVM Resolution 77/2022 at the time of disclosure. Repurchases are to be executed through three named brokerage firms: Santander Institucional Corretora de Câmbio e Valores Mobiliários S.A., Ágora Corretora de Títulos e Valores Mobiliários S.A., and Goldman Sachs do Brasil Corretora de Títulos e Valores Mobiliários S.A. The acquisition will be recorded as a debit on the capital reserve in the balance sheet dated as of September 30, 2026, according to the company.

The program is set to remain in effect until April 28, 2028. The filing notes that additional information is available on the websites of the Brazilian Securities and Exchange Commission, B3 S.A. - Brasil, Bolsa, Balcão, and the company's investor relations site. The Form 6-K was signed by Guilherme Fleury de Figueiredo Ferraz Parolari, Chief Financial and Investor Relations Officer.

What Was Disclosed

Ambev S.A. filed a Form 6-K reporting board approval on October 28, 2026 of a share buyback program covering up to 190,000,000 common shares, primarily for cancelation, with a program end date of April 28, 2028.