XP Inc. approves retirement of treasury shares and share repurchase program

XP Inc.’s (XP) board of directors has approved the retirement of treasury shares, and the authorization of a new share repurchase program. The company approved the retirement of 10,970,754 Class A common shares, representing approximately 2.1% of the company’s total shares. Total share count went from 530,859,761 to 519,889,007 after cancellation. The board also authorized a new share repurchase program, allowing the company to repurchase up to R$1.0B of its outstanding Class A common shares over a period beginning on November 18, 2025 continuing until the earlier of the completion of the repurchase or November 18, 2026, depending upon market conditions. XP expects to utilize its existing cash to fund repurchases made under the repurchase program.