SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report
of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934
For the month of August,
2024
Commission File Number 001-41129
Nu Holdings Ltd.
(Exact name of registrant as specified
in its charter)
Nu Holdings Ltd.
(Translation of Registrant's name
into English)
Campbells Corporate Services
Limited, Floor 4, Willow House, Cricket Square, KY1-9010 Grand Cayman, Cayman Islands
+1 345 949 2648
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F (X) Form 40-F
Indicate by check mark whether the registrant by furnishing
the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes No (X)
TABLE OF CONTENTS
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| |
Nu Holdings Ltd. |
| |
|
| |
By: |
/s/ Guilherme Lago |
| |
|
Guilherme Lago
Chief Financial Officer |
Date: August 13, 2024
NU
HOLDINGS LTD.
NOTICE
OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
To
Be Held on August 13, 2024
NOTICE
IS HEREBY GIVEN that an Annual General Meeting (“AGM”) of Nu Holdings Ltd. (the “Company” or
“we”) will be held on August 13, 2024 at 10:00 a.m. Brasilia time (UTC-3). The AGM will be held at the offices of the
Company, located at Rua Capote Valente, 39, Pinheiros, São Paulo-SP, 05409-000, Brazil.
The AGM
will be held in accordance with Cayman Islands law and the amended and restated memorandum and articles of association of the Company
and shareholders can attend in person or electronically. You will be able to attend the AGM online by visiting https://meetnow.global/MU7CRRJ.
You will also be able to vote your shares online by attending the AGM via this webcast. To participate in the AGM online, you will need
to review the information included on the proxy card or in the instructions that accompanied your proxy materials.
AGENDA
The AGM
will be held for the purpose of considering and, if thought fit, passing and approving the following resolutions:
| 1. | "To resolve, as an ordinary resolution, that the Company’s audited
financial statements and the Company’s Annual Report on Form 20-F for the fiscal year ended December 31, 2023 be approved and ratified." |
| 2. | “To resolve, as an ordinary resolution, that the reelection of the individuals
listed from “a” to “i”, as directors of the Company (the “Nominees”), each to serve for a term
ending on the date of the next annual general meeting of the Members, or until such person resigns or is removed in accordance with the
terms of the Memorandum and Articles of Association of the Company, be approved: |
| c. | Daniel Krepel Goldberg; |
| d. | David Alexandre Marcus; |
| g. | Luis Alberto Moreno Mejia; |
| h. | Rogério Paulo Calderón Peres; and |
Further
details regarding the proposals are set out in the attached proxy statement (which proxy statement is hereby incorporated into this notice
by reference). The board of directors of the Company (the “Board”) has fixed the close of business on July 5, 2024
Brasilia time (UTC-3) as the record date (the “Record Date”) for determining the shareholders of the Company entitled
to receive notice of the AGM or any adjournment thereof. The holders of record of the Class A ordinary shares and the Class B ordinary
shares of the Company as at the close of business on the Record Date are entitled to receive notice of and attend the AGM and any adjournment
thereof.
Please
refer to the proxy card which is attached to and made a part of this notice. The proxy statement and the proxy card are also available
for viewing on the Investor Relations section of our website at https://www.investidores.nu/en
and on the SEC’s website at https://www.sec.gov.
Your vote is
important. If you do not plan to attend the AGM either in person or virtually then you are urged to complete, sign, date and return the
accompanying proxy card to us, in accordance with the instructions set out therein, as promptly as possible and in any case by no later
than 11:59 p.m., Eastern time, on August 12, 2024 to ensure your representation at the AGM.
The Company’s
Annual Report on Form 20-F for the fiscal year ended December 31, 2023 was filed with the U.S. Securities and Exchange Commission (the
“Commission”) on April 20, 2024 (the “Form 20-F”). Shareholders may obtain a copy of the Form 20-F, free of charge,
from the Company’s website at https://www.investidores.nu/en and on the SEC’s website
at https://www.sec.gov or by contacting the Company’s Investor Relations Department by
email at investors@nubank.com.br. In addition to the other information included in the Form
20-F, you will find in the Form 20-F biographies for the incumbent members of the Board.
The Board recommends that
shareholders of the Company vote “FOR” the resolutions at the AGM. Your vote is very important to the Company.
By Order
of the Board of Directors,
/s/ David Vélez Osorno
Name: David
Vélez Osorno
Title:
Chairman of the Board of Directors
Dated:
July 12, 2024
Registered
Office:
c/o Campbells
Corporate Services Limited
Floor 4,
Willow House, Cricket Square
Grand Cayman
KY1-9010
Cayman Islands
NU HOLDINGS
LTD.
Floor 4,
Willow House, Cricket Square
Grand Cayman,
KY1-9010, Cayman Islands
PROXY STATEMENT
The Board of Directors
of Nu Holdings Ltd. (the “Company” or “we”) is soliciting proxies for the annual general meeting
of shareholders (the “AGM”) of the Company to be held on August 13, 2024 at 10:00 a.m., Brasilia time (UTC3). The AGM
will be held at the offices of the Company, located at Rua Capote Valente, 39, Pinheiros, São Paulo-SP, 05409-000, Brazil.
The AGM will
be held in accordance with Cayman Islands law and the amended and restated memorandum and articles of association of the Company and shareholders
can attend in person or electronically. You will be able to attend the AGM online by visiting https://meetnow.global/MU7CRRJ. You will
also be able to vote your shares online by attending the AGM via this webcast. To participate in the AGM, you will need to review the
information included on the proxy card or in the instructions that accompanied your proxy materials.
On July 12, 2024,
we published a notice of the AGM and our proxy materials on the Investor Relations section of the Company’s website at https://www.investidores.nu/en
and on the SEC’s website at https://www.sec.gov and mailed to our shareholders our proxy materials, including our proxy statement,
the notice to shareholders of our AGM and the proxy card, along with instructions on how to vote using the proxy card provided therewith.
Record Date,
Share Ownership and Quorum
Only the holders
of record of Class A ordinary shares (the “Class A Ordinary Shares”) and Class B ordinary shares (the “Class
B Ordinary Shares” and together with the Class A Ordinary Shares, the “Ordinary Shares”) of the Company as
at the close of business on July 5, 2024 (Brasilia time (UTC-3)) (the “Record Date”) are entitled to receive notice
of and attend the AGM and any adjournment thereof. No person shall be entitled to vote at the AGM unless it is registered as a shareholder
of the Company on the Record Date for the AGM.
As of the close
of business on the Record Date, 4,789,323,508 Ordinary Shares were issued and outstanding, including 3,706,856,366 Class A Ordinary Shares
and 1,082,467,142 Class B Ordinary Shares. One or more shareholders holding not less than a majority in aggregate of all shares in issue
and entitled to vote, present in person or by proxy or, if a corporation or other non-natural person, by its duly authorized representative,
constitutes a quorum of the shareholders.
Voting and Solicitation
Each Class A Ordinary
Share issued and outstanding as of the close of business on the Record Date is entitled to one vote at the AGM. Each Class B Ordinary
Share issued and outstanding as of the close of business on the Record Date is entitled to twenty votes at the AGM. The resolutions to
be put to the vote at the AGM will be approved by an ordinary resolution (i.e. a simple majority of the votes cast, by or on behalf of,
the shareholders attending and voting at the AGM).
Voting by Holders
of Ordinary Shares
Ordinary Shares
that are properly voted, for which proxy cards are properly executed and returned within the deadline set forth below, will be voted at
the AGM in accordance with the directions given. If no specific instructions are given in such proxy cards, the proxy holder will vote
in favour of the item(s) set forth in the proxy card. The proxy holder will also vote in the discretion of such proxy holder on any other
matters that may properly come before the AGM, or
at any adjournment thereof. Where any
holder of Ordinary Shares affirmatively abstains from voting on any particular resolution, the votes attaching to such Ordinary Shares
will not be included or counted in the determination of the number of Ordinary Shares present and voting for the purposes of determining
whether such resolution has been passed (but they will be counted for the purposes of determining the quorum, as described above).
Proxies submitted
by registered shareholders and street shareholders (by returning the proxy card) must be received by us no later than 11:59 p.m., Eastern
time, on August 12, 2024 to ensure your representation at our
The manner in which
your shares may be voted depends on how your shares are held. If you own shares of record, meaning that your shares are represented by
book entries in your name so that you appear as a shareholder on the records of Computershare Inc. (“Computershare”)
(i.e., you are a registered shareholder), our stock transfer agent, this proxy statement, the notice of AGM and the proxy card will be
mailed to you by Computershare. You may provide voting instructions by returning a proxy card. You also may attend the AGM and vote in
person. If you own Ordinary Shares of record and you do not vote by proxy or in person at the Annual Meeting, your shares will not be
voted.
If you own shares
in street name (i.e., you are a street shareholder), meaning that your shares are held by a bank, brokerage firm, or other nominee, you
are then considered the “beneficial owner” of shares held in “street name,” and as a result, this proxy statement,
the notice of AGM and the proxy card will be provided to you by your bank, brokerage firm, or other nominee holding the shares. You may
provide voting instructions to them directly by returning a voting instruction form received from that institution. If you own Ordinary
Shares in street name and attend the AGM, you must obtain a “legal proxy” from the bank, brokerage firm, or other nominee
that holds your shares in order to vote your shares at the meeting and present your voting information card.
Revocability
of Proxies
Registered shareholders
may revoke their proxy or change voting instructions before shares are voted at the AGM by submitting a written notice of revocation to
our Investor Relations Department at investors@nubank.com.br, or a duly executed proxy bearing a later date (which must be received by
us no later than the date set forth below) or by attending the AGM and voting in person. A beneficial owner owning Ordinary Shares in
street name may revoke or change voting instructions by contacting the bank, brokerage firm, or other nominee holding the shares or by
obtaining a legal proxy from such institution and voting in person at the AGM. If you are not planning to attend in person our AGM,
to ensure your representation at our AGM, revocation of proxies submitted by registered shareholders and street shareholders (by returning
a proxy card) must be received by us no later than 11:59 p.m., Eastern time, on August 12, 2024.
PROPOSAL 1:
TO RESOLVE, AS
AN ORDINARY RESOLUTION, THAT THE COMPANY’S AUDITED FINANCIAL STATEMENTS AND THE COMPANY’S ANNUAL REPORT ON FORM 20-F FOR THE
FISCAL YEAR ENDED DECEMBER 31, 2023 BE APPROVED AND RATIFIED.
The Company seeks shareholder approval
and ratification of the Company’s 2023 audited consolidated financial statements (the “Audited Accounts”), which
have been prepared in accordance with International Financial Reporting Standards, in respect of the fiscal year ended December 31, 2023.
A copy of the Company’s Audited Accounts is included in the 2023 annual report on Form 20-F which is available on the Company’s
website at https://www.investidores.nu/en.
The affirmative
vote by the holders of a simple majority of the votes cast, by or on behalf of, the shareholders attending and voting at the AGM is required
for this proposal. If proxies are properly submitted by signing, dating and returning a proxy card, Ordinary Shares represented thereby
will be voted in the manner specified therein. If not otherwise specified, and the proxy card is signed, Ordinary Shares represented by
the proxies will be voted in favour of this proposal.
THE BOARD OF DIRECTORS
RECOMMENDS A VOTE “FOR” THE APPROVAL AND RATIFICATION OF THE COMPANY’S AUDITED FINANCIAL STATEMENTS AND THE COMPANY’S
ANNUAL REPORT ON FORM 20-F FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023.
PROPOSAL 2:
REELECTION OF
DIRECTORS
TO RESOLVE,
AS AN ORDINARY RESOLUTION, THAT THE REELECTION OF THE INDIVIDUALS
LISTED FROM
“A” TO “I”, AS DIRECTORS OF THE COMPANY (THE “NOMINEES”), EACH TO SERVE FOR A TERM ENDING
ON THE DATE OF THE NEXT ANNUAL GENERAL MEETING OF THE MEMBERS, OR UNTIL SUCH PERSON RESIGNS OR IS REMOVED IN ACCORDANCE WITH THE TERMS
OF THE MEMORANDUM AND ARTICLES OF ASSOCIATION OF THE COMPANY, BE APPROVED:
| c. | Daniel Krepel Goldberg; |
| d. | David Alexandre Marcus; |
| g. | Luis Alberto Moreno Mejia; |
| h. | Rogério Paulo Calderón Peres; and |
Pursuant to Article
21 of the Company’s Twelfth Amended and Restated Memorandum and Articles of Association (the “Memorandum and Articles of
Association”), the Company’s board of directors and the Founding Shareholder (as defined in the Memorandum and Articles
of Association), have nominated David Vélez Osorno; Anita Mary Sands; Daniel Krepel Goldberg; David Alexandre Marcus; Douglas Mauro
Leone; Jacqueline Dawn Reses; Luis Alberto Moreno Mejia; Rogério Paulo Calderón Peres; and Thuan Quang Pham for reelection,
each as a director of the Company, to serve until the next annual general meeting of shareholders or until such person resigns or is removed
in accordance with the Company’s Memorandum and Articles of Association.
Information relating
to the Nominees is set forth below:
| Name
|
Age
|
Position(s)
|
| David Vélez Osorno |
42 |
Founder, Chairman and Chief Executive Officer |
| Anita Mary Sands |
48 |
Director(1)* |
| Daniel Krepel Goldberg |
48 |
Director* |
| David Alexandre Marcus |
51 |
Director(2)* |
| Douglas Mauro Leone |
67 |
Director(2)* |
| Jacqueline Dawn Reses |
54 |
Director(2)* |
| Luis Alberto Moreno Mejía |
71 |
Director(2)* |
| Rogério Paulo Calderón Peres |
62 |
Director(1)* |
| Thuan Quang Pham |
56 |
Director(1)* |
| (1) | Member of the Audit and Risk Committee. |
| (2) | Member of the Compensation and People Committee. |
* Independent Director.
David Vélez
Osorno is our Founder, the Chairman of our Board of Directors and our Chief Executive Officer. Before founding Nu in 2013,
David was a partner at Sequoia Capital between January 2011 and March 2013, in charge of the firm’s Latin American investments group.
Before Sequoia, David worked in investment banking and growth equity at Goldman Sachs, Morgan Stanley and General Atlantic. He holds a
Bachelors of Science in Management Science and Engineering and a Masters in Business Administration, both from Stanford University.
Anita Mary
Sands is a member of our Board of Directors, a position she has held since October 2020. She has acted as our Lead Independent
Director since October 2022, and is also a member of our Audit and Risk Committee since June 2021. Dr. Sands has served on the board
of directors of ServiceNow, Inc. since July 2014, besides other private Boards of directors, such as JumpCloud, Inc. (since December
2021), Circle Internet Financial, Inc. (since January 2022) and Cyderes (since January 2022). She also served on the Board of directors
of Pure Storage, Inc. (2015 until 2021), Khosla SPAC (2021), and SVF SPAC (2021 until 2023). From April 2012 to September 2013, Dr. Sands
served as group managing director, head of change leadership and a member of the wealth management Americas executive committee of UBS
Financial Services, a global financial services firm. Prior to that, from April 2010 to April 2012, Dr. Sands was group managing director
and chief operating officer of UBS Wealth Management Americas at UBS Financial Services, and from October 2009 to April 2010, Dr. Sands
was a transformation consultant at UBS Wealth Management Americas. Prior to joining UBS Financial Services, Dr. Sands was managing director,
head of transformation management at Citigroup N.A.’s global operations and technology organization. Dr. Sands also held several
leadership positions with RBC Financial Group and the Canadian Imperial Bank of Commerce (CIBC). Dr. Sands holds a Bachelor’s of
Science in Physics and Applied Mathematics and a Doctoral Degree in Atomic and Molecular Physics, both from The Queen’s University
of Belfast, Northern Ireland, and a Master’s of Science in Public Policy and Management from Carnegie Mellon University. She is
currently the James Wei Visiting Professor in Entrepreneurship at Princeton University.
Daniel Krepel
Goldberg is a member of our Board of Directors, a position he has held since April 2021. Daniel is also a permanent observer
of our Audit and Risk Committee since December, 2023. He is currently managing partner and CIO at Lumina Capital Management and formerly
was a partner and head of Latin America at Farallon Capital Management, position he held from August 2011 to December 2021. He was the
president of Morgan Stanley in Brazil from April 2010 to August 2011. Between January 2003 and December 2006, he headed the Economic Law
Secretariat of the Ministry of Justice, a former body of the Brazilian antitrust and consumer protection system. He holds a Bachelor’s
Degree and a Doctoral Degree in Law from the University of São Paulo. In addition, he received a Master’s of Laws from Harvard
Law School.
David Alexandre
Marcus is a member of our Board of Directors, a position he has held since March, 2023. He is also a member of our Compensation
and People Committee since March 2023. Mr. Marcus is CEO and co-founder of Lightspark. Lightspark is building core infrastructure on the
Lightning Network. Most recently he led all payments and crypto efforts at Meta. In 2018, Mr. Marcus started Diem (fka Libra). He joined
Meta, then called Facebook, in 2014 to lead Messenger, which he took from under 200M monthly users to over 1.5B. Previously, he was PayPal’s
President. A lifelong entrepreneur, Mr. Marcus launched two companies in Europe, then founded mobile payments company Zong in Silicon
Valley, which was acquired by PayPal in 2011.
Douglas
Mauro Leone is a member of our Board of Directors, a position he has held since 2016. He has also been a member of our Compensation
and People Committee since July 2021. Doug is a Partner at Sequoia Capital, which he joined in 1988 and become a Partner in 1993. From
2012 to 2022, he served as its Global Managing Partner, and from 1996 to 2012 he served as Co-Head of the Partnership. Doug also serves
on the Board of Directors of ActionIQ, Cresta, Cyera, Island.io, Sequoia Heritage, Soley Pharmaceutical, StrongDM, Trade Republic, Wiz,
and Zafran. Before Sequoia, Doug began his career in tech at Sun Microsystems, HewlettPackard, and Prime Computer.
He holds a
Bachelor’s of Science in Mechanical Engineering from Cornell University, a Master’s of Science in Industrial Engineering
from Columbia University, and a Master’s of Science in Management from the Massachusetts Institute of Technology.
Jacqueline
Dawn Reses is a member of our Board of Directors, a position she has held since March 2021. She has also been the Chair of
our Compensation and People Committee since July 2021, and acted as a member of our Audit and Risk Committee from June 2021 until December
2023. She is the current Chairwoman and Chief Executive Officer of Lead Bank (since October 2021) and most recently served as executive
chair of Square Financial Services LLC and capital lead at Block, Inc. (Square, Inc.), a publicly traded financial services company which
provides services to small businesses and consumers, from October 2015 to October 2020. From February 2016 to July 2018, she also served
as people lead at Square, Inc. From September 2012 to October 2015, she served as chief development officer of Yahoo! Inc. Prior to Yahoo,
she led the U.S. media group as a partner at Apax Partners Worldwide LLP, a global private equity firm, which she joined in 2001. She
serves on the board of directors of Affirm, Endeavor and Taskus and she was the chairperson of the Economic Advisory Council of the Federal
Reserve Bank of San Francisco until October 2022. She holds a Bachelor’s of Science in Economics with honors from the Wharton School
of the University of Pennsylvania.
Luis Alberto
Moreno Mejía is a member of our board of directors, a position he has held since April 2021. He has also been a member
of our Compensation and People Committee since July 2021. He joined us after his 15-year tenure as the President of the Inter-American
Development Bank Group from October 2005 to September 2020, and has served as a Managing Director at Allen & Co. since February 2021.
He has also served as Colombia’s Ambassador to the United States for seven years from October 1998 to June 2005. He had a distinguished
career in business and government. As Minister of Economic Development between July 1992 and January 1994, he was head of the Instituto
de Fomento Industrial, Colombia’s public sector holding company. In the private sector he was the executive producer of TV Hoy.
He holds a Degree in Business Administration and Economics from Florida Atlantic University and a Master’s in Business Administration
from the Thunderbird School of Global Management. In 1990, Harvard University awarded him a Neiman Fellowship for his achievements in
the field of journalism.
Rogério
Paulo Calderón Peres is a member of our Board of Directors and also the chairman of our Audit and Risk Committee, positions
he has held since June 2021 and July 2021, respectively. As a financial expert, he served in PricewaterhouseCoopers Brazil as audit partner
for nearly ten years until 2003 and then served as senior executive and chief financial officer at Bunge Brasil S.A. from 2003 to 2007,
Unibanco S.A. and Itaú Unibanco Holdings S.A. between 2007 and 2014, and HSBC Brasil S.A. (HSBC LatAm) between 2014 and 2016. He
also serves as a Board member in Alupar Investimentos S.A. since December 2016, and Grupo Casas Bahia S.A. since September 2019, both
listed companies in Brazil. He also acted as the chairman of the audit committee and designated financial expert at B3 from April 2018
to May 2024. He holds a Bachelor’s in Business Administration from Fundação Getulio Vargas and a Bachelor’s
in Accounting from Fundação FAPEI, both in Brazil. He also holds a Brazilian registered accountant certification (Brazilian
CPA) and has also attended several extension programs in strategy, finance, human resources and governance at Harvard University, Princeton
University, University of Western Ontario, Fundação Getulio Vargas and Fundação Dom Cabral.
Thuan Quang
Pham is our Board Member and also Member of our Audit and Risk Committee since September 2022. He also acts as a Technology
Advisor of The Routing Company since June 2020, and most recently assumed the position of CTO of Faire (since May 2024). Mr. Pham served
as Chief Technology Officer of Coupang from September 2020 until September 2022, and of Uber Technologies, Inc. from April 2013 to May
2020. From December 2004 to January 2013, Mr. Pham served in various Vice President roles at VMWare, Inc., a software and technology company,
including as Vice President of R&D - Cloud Management Platform from June 2012 to January 2013. Mr. Pham holds both B.S. and M.S. degrees
in Computer Science and Electrical Engineering from the Massachusetts Institute of Technology.
The affirmative
vote by the holders of a simple majority of the votes cast, by or on behalf of, the shareholders attending and voting at the AGM is required
for this proposal. If proxies are properly submitted by signing, dating and returning a proxy card, Ordinary Shares represented thereby
will be voted in the manner specified therein. If not otherwise specified, and the proxy card is signed, Ordinary Shares represented by
the proxies will be voted in favour of this proposal.
THE BOARD OF DIRECTORS
RECOMMENDS A VOTE “FOR” THE REELECTION TO THE BOARD OF DIRECTORS OF EACH OF THE ABOVEMENTIONED NOMINEES.
ANNUAL REPORT
AND COMPANY INFORMATION
A copy of
our 2023 Annual Report to shareholders on Form 20-F, along with a copy of this proxy statement, can be accessed, free of charge, on the
Investor Relations section of the Company’s website at https://www.investidores.nu/en and on the SEC’s website at https://www.sec.gov.
OTHER MATTERS
We know of no other
matters to be submitted to the AGM. If any other matters properly come before the AGM, it is the intention of the persons named in the
enclosed form of proxy to vote the Ordinary Shares they represent as the board of directors may recommend.
By Order of the
Board of Directors,
David Vélez
Osorno
Dated: July 12,
2024
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