Open Capital Top Companies Administrators Remuneration Disclosure

480 Instruction, introduced by the CVM (Furniture Values Commission) in 2009, started an increase process of transparency to determine the obligation, from part of the companies listed in the Bovespa, of divulgating the details of their remuneration policies and practices from their administrators: Legal Board, Directors Board, Tax Council and its correspondent Committee.

On its 5th edition, Disclosure presents the qualification results of the information and analysis of the remuneration policies practiced by 130 companies based on the Reference Forms divulgated in 2016 (chapters 12 and 13) referred to the years 2012, 2013, 2014 and 2015.

Disclosure 2016 allows you to accompany your executive remunerations policies, of the director’s board, of the tax council and its correspondent committees complementing the typical market surveys.
  • Overview


Reports Available

The four reports available detail the administrator’s remuneration policies and are segmented by:

General Market:
Legal Board – General Market
Directors Board – General Market

Financial Market:
Legal Board - Financial Market
Directors Board – Financial Market

The reports comprise an analysis of items such as:
  • Fixed remuneration quantitative data
  • Remuneration positioning strategy
  • Ways of adjusting fixed remuneration
  • Short and long-term incentives quantitative data
  • Values payed through incentives versus indicators / financial results
  • Short and long-term incentives qualitative data
  • Directors and fiscal board remuneration
  • Council remuneration components


Mercer has available the four reports both in Portuguese and in English.

Data Delivery

The reports will be delivered in PDF format.


Talita Donha
(11) 3048-1954

Christian Pereira
(11) 3048-9213

Nelson Bravo
(11) 3806 1141
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  • Short DescriptionOpen Capital Top Companies Administrators Remuneration Disclosure
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