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SHARE-BASED PAYMENTS (Tables)
 12 Months Ended
Dec. 31, 2022
Share-based Payments  
Schedule of weighted average fair value of the options and assumptions
           
In R$ 2022   2021   2020 (i)
 
Fair value of options granted              -                   -      4.04   
Share price              -                   -      18.05   
Exercise price              -                   -      18.05   
Expected volatility              -                   -      22.3%  
Vesting year              -                   -      5   
Expected dividends              -                   -      5%  
Risk-free interest rate               -                   -      6.8% (ii)

 

(i) Information based on weighted average plans granted, except for the expected dividends and risk-free interest rate.

 

(ii) The percentages include the grants of stock options and ADRs during the period, with the risk-free interest rate of ADRs calculated in U.S. Dollar.
Schedule of number of outstanding options developed
         
Thousand options 2022   2021   2020
 
Options outstanding at January 113,760    127,265    141,736 
Options issued during the period              -                   -      22 
Options exercised during the period              -      (5,247)   (5,730)
Options forfeited during the period (14,043)   (8,258)   (8,763)
Options outstanding at the end of the year 99,717    113,760    127,265 
Schedule of weighted average exercise price
         
In R$ per share 2022   2021   2020
 
Options outstanding at January 1 19.92    19.81    18.53 
Options issued during the period              -                   -      18.05 
Options forfeited during the period 22.60    25.27    22.96 
Options exercised during the period              -      13.16    8.30 
Options outstanding at the end of the period 19.39    19.92    19.81 
Options exercisable at the end of the period 20.12    21.14    23.70 
Schedule of deferred shares
         
Thousand deferred shares 2022   2021   2020
 
Deferred shares outstanding at January 1,168    6,065    7,926 
New deferred shares during the period 44    110    153 
Deferred shares granted during the period (214)   (4,964)   (1,901)
Deferred shares forfeited during the period (109)   (43)   (113)
Deferred shares outstanding at the end of the year 889    1,168    6,065 

 

Restricted and performance shares

 

           
Thousand restricted shares 2022   2021   2020
 
Restricted shares outstanding at January 62,545    43,458    23,836 
New restricted shares during the period 49,328    20,629    21,066 
Restricted shares granted during the period (12)   (22)                -   
Restricted shares forfeited during the period (3,007)   (1,520)   (1,444)
Restricted shares outstanding at the end of the year 108,854    62,545    43,458