XML 41 R15.htm IDEA: XBRL DOCUMENT
v3.25.1

Related Parties | 12 Months Ended
--- | ---
Dec. 31, 2024
Related Parties |
Related Parties | 8. Related parties a. Related parties Balances and transactions between the Company and its subsidiaries have been eliminated in consolidation and are not disclosed in this Note. The balances and transactions between the Company and its subsidiaries with other related parties are highlighted below:
| Assets |  |  | Liabilities |  |  | Operating result - Sales/(Purchases) |
| 12/31/2024 |  |  | 12/31/2023 |  |  | 12/31/2024 |  |  | 12/31/2023 |  |  | 12/31/2024 |  |  | 12/31/2023 |  |  | 12/31/2022 |
Transactions with subsidiaries and joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transactions with joint ventures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Refinaria de Petróleo Riograndense S.A. | ‐ |  |  | ‐ |  |  | 9,846 |  |  | 29,278 |  |  | (457,885 | ) |  | (510,510 | ) |  | (336,781 | )
Latitude Logística Portuária S.A. | 10,862 |  |  | 11,393 |  |  | ‐ |  |  | 20 |  |  | ‐ |  |  | ‐ |  |  | - |
Navegantes Logística Portuária S.A. | 29,406 |  |  | 13,703 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | - |
Others | 7,943 |  |  | 6,874 |  |  | 2,875 |  |  | 2,917 |  |  | 851 |  |  | 571 |  |  | 784 |
Transactions with associates |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hidrovias do Brasil S.A. | 416 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | - |
Transactions with other related parties |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chevron Oronite Brasil Ltda. (1) | ‐ |  |  | ‐ |  |  | 13,434 |  |  | 53,466 |  |  | (195,925 | ) |  | (175,053 | ) |  | (162,006 | )
Chevron Products Company (1) | ‐ |  |  | ‐ |  |  | 159,432 |  |  | 63,263 |  |  | (745,812 | ) |  | (370,137 | ) |  | (699,154 | )
Others | 8,760 |  |  | 3,065 |  |  | 1,449 |  |  | 1,626 |  |  | (3,718 | ) |  | (13,157 | ) |  | 1,421 |
Total | 57,387 |  |  | 35,035 |  |  | 187,036 |  |  | 150,570 |  |  | (1,402,489 | ) |  | (1,068,286 | ) |  | 1,195,736 |
Trade receivables (Note 5) | 8,662 |  |  | 3,143 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | - |
Other receivables | 416 |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | - |
Trade payables (Note 16) | ‐ |  |  | ‐ |  |  | 183,520 |  |  | 147,452 |  |  | ‐ |  |  | ‐ |  |  | - |
Related parties | 48,309 |  |  | 31,892 |  |  | 3,516 |  |  | 3,118 |  |  | ‐ |  |  | ‐ |  |  | - |
Sales and services provided | ‐ |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | 21,125 |  |  | 14,779 |  |  | 16,090 |
Purchases | ‐ |  |  | ‐ |  |  | ‐ |  |  | ‐ |  |  | (1,423,614 | ) |  | (1,083,065 | ) |  | (1,211,826 | )
(1)Non-controlling shareholders and other related parties of Iconic. Purchase and sale transactions relate substantially to the purchase of raw materials, feedstock, transportation, and storage services based on prices and terms negotiated between the parties, with customers and suppliers with comparable operational performance. b. Key executives The Ultrapar’s compensation policy and practices are designed to align short and long-term interests with shareholders and the Company’s sustainability. The short and long-term variable compensation is linked to growth goals in results and generated economic value, aligned with shareholders’ interests. Variable compensation also directs the professionals’ focus to the strategic plan approved by the Board of Directors, and is linked to annual growth targets in financial results and priority matters for the Company. For details about post-employment benefits see Note 17.b. The expenses for compensation of its key executives (Company’s directors and executive officers) are shown below:
| 12/31/2024 |  |  | 12/31/2023 |  |  | 12/31/2022 |
Short-term compensation | 51,814 |  |  | 54,396 |  |  | 62,285 |
Stock compensation | 62,952 |  |  | 35,165 |  |  | 18,424 |
Post-employment benefits | 4,767 |  |  | 4,206 |  |  | 4,035 |
Termination benefits | ‐ |  |  | 1,007 |  |  | - |
Total | 119,533 |  |  | 94,774 |  |  | 84,744 |
c. Stock plan 2017 Plan On April 19, 2017, the Ordinary and Extraordinary General Shareholders’ Meeting (“OEGM”) approved a share-based incentive plan (“2017 Plan”), which establishes the general terms and conditions for granting common shares issued by the Company and held in treasury, that may or may not involve the granting of usufruct of part of these shares for later transfer of the ownership of the shares, with vesting periods determined in each Program, to directors or employees of the Company or its subsidiaries. As a result of the Plan approved in 2017, common shares representing at most 1% of the Company's share capital could be delivered to the participants, which corresponded, at the date of approval of this Plan, to 11,128,102 common shares. At the OEGM held on April 19, 2023, the 2017 Plan was amended, permitting that, if the participant becomes a member of the Company's Board of Directors, thus ceasing to hold any other executive position, the right to receive ownership of the shares will be preserved, maintaining the conditions and other requirements established in the applicable programs and in each agreement. 2023 Plan The share-based incentive plan ("2023 Plan") establishes the general terms and conditions for the Company or its subsidiaries to grant common shares issued by them and held in treasury, to the Management, including the members of Ultrapar's Board of Directors, or employees of the Company or of companies under its direct or indirect control, that may involve the granting of usufruct for later transfer of the ownership of the shares, subject to the terms and conditions set forth in the 2023 Plan. In the case of members of the Board of Directors, the grants will be mandatorily linked to the remuneration approved by the shareholders at the Ordinary General Shareholders’ Meeting. As a result of the 2023 Plan, common shares representing at most 5% of the Company's share capital may be delivered to the participants, which corresponded, at the date of approval of said Plan, to 55,760,215 common shares. Annually, a maximum of 1% of this limit may be used. The table below summarizes the restricted and performance stock programs under the 2017 Plan and the 2023 Plan:
Program | Grant date | Number of shares granted (Quantity) |  |  | Vesting period |  |  | Fair value of shares on the grant date (in R$) |  |  | Total exercisable grant costs, including taxes (in R$ thousands) |  |  | Accumulated recognized exercisable grant costs (in R$ thousands) |  |  | Unrecognized exercisable grant costs (in R$ thousands) |
Restricted | September 2, 2019 | 240,000 |  |  | 2025 |  |  | 16.42 |  |  | 6,774 |  |  | (6,024 | ) |  | 750 |
Restricted | April 1, 2020 | 39,084 |  |  | 2025 |  |  | 12.53 |  |  | 1,124 |  |  | (1,074 | ) |  | 50 |
Performance | April 1, 2020 | 55,074 |  |  | 2025 |  |  | 12.53 |  |  | 1,324 |  |  | (1,268 | ) |  | 56 |
Restricted | September 16, 2020 | 140,000 |  |  | 2026 |  |  | 23.03 |  |  | 5,464 |  |  | (3,946 | ) |  | 1,518 |
Restricted | September 22, 2021 | 1,000,000 |  |  | 2027 |  |  | 14.17 |  |  | 24,093 |  |  | (13,339 | ) |  | 10,754 |
Restricted | April 6, 2022 | 634,165 |  |  | 2025 |  |  | 14.16 |  |  | 16,906 |  |  | (15,508 | ) |  | 1,398 |
Performance | April 6, 2022 | 1,007,324 |  |  | 2025 |  |  | 14.16 |  |  | 26,829 |  |  | (24,802 | ) |  | 2,027 |
Restricted | September 21, 2022 | 2,640,000 |  |  | 2032 |  |  | 12.98 |  |  | 64,048 |  |  | (14,945 | ) |  | 49,103 |
Restricted | December 7, 2022 | 1,500,000 |  |  | 2032 |  |  | 13.47 |  |  | 37,711 |  |  | (7,860 | ) |  | 29,851 |
Restricted | April 20, 2023 | 311,324 |  |  | 2025 |  |  | 14.50 |  |  | 7,472 |  |  | (6,538 | ) |  | 934 |
Restricted | April 20, 2023 | 1,146,194 |  |  | 2026 |  |  | 14.50 |  |  | 31,039 |  |  | (18,129 | ) |  | 12,910 |
Performance | April 20, 2023 | 1,156,903 |  |  | 2026 |  |  | 14.50 |  |  | 31,320 |  |  | (18,410 | ) |  | 12,910 |
Restricted | September 20, 2023 | 3,800,000 |  |  | 2033 |  |  | 18.75 |  |  | 132,784 |  |  | (17,712 | ) |  | 115,072 |
Restricted | April 17, 2024 | 3,495,953 |  |  | 2027 to 2029 |  |  | 26.94 |  |  | 177,651 |  |  | (31,656 | ) |  | 145,995 |
Restricted | June 19, 2024 | 60,683 |  |  | 2027 |  |  | 21.47 |  |  | 2,468 |  |  | (411 | ) |  | 2,057 |
Restricted | October 1, 2024 | 1,295,000 |  |  | 2034 |  |  | 23.10 |  |  | 55,785 |  |  | (1,395 | ) |  | 54,390 |
| 18,521,704 |  |  |  |  |  |  |  |  | 622,792 |  |  | (183,017 | ) |  | 439,775 |
Number of shares as of December 31, 2021 | 4,415,294 |
Shares granted during the year | 5,702,027 |
Cancellation of granted shares due to termination of executive employment | (934,310 | )
Shares transferred (vesting) | (484,651 | )
Reclassification from assets held for sale | 236,344 |
Number of shares as of December 31, 2022 | 8,934,704 |
Shares granted during the year | 6,930,871 |
Cancellation of granted shares due to termination of executive employment | (583,180 | )
Shares transferred (vesting) | (447,800 | )
Number of shares as of December 31, 2023 | 14,834,595 |
Shares granted during the year | 5,061,396 |
Cancellation of granted shares due to termination of executive employment | (139,105 | )
Shares transferred (vesting) | (1,235,182 | )
Number of shares as of December 31, 2024 | 18,521,704 |
The Company does not have shares that were not transferred after the period for transfer of the ownership of the shares. For the year ended December 31, 2024, an expense in the amount of R$ 112,277 was recognized in relation to the Plan (R$ 70,770 for the year ended December 31, 2023 and R$ 38,204 for the year ended December 31,2022). For all plans, settlements are made only with the delivery of treasury shares. The values of the grants were determined on the granting date based on the market value of these shares on B3 (the Brazilian Stock Exchange).

X
- Definition The entire disclosure for related parties. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 24 -IssueDate 2024-01-01 -Section Disclosures -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=24&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IAS24_g13-24_TI -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfRelatedPartyExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract
Namespace Prefix: | ifrs-full_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration