Form 4: Popular, Inc. Director Bertil E. Chappuis Reports Changes in Beneficial Ownership

Director Bertil E. Chappuis reports acquisition of restricted stock units due to dividend equivalents.

Summary

• On October 1, 2024, Bertil E. Chappuis, a director of Popular, Inc., acquired 10 restricted stock units (RSUs) as a result of dividend equivalents accrued on previously granted RSUs.
• These RSUs convert into common stock on a one-for-one basis.
• Following the transaction, Chappuis directly owns 1,412 derivative securities.
• The RSUs will be converted into shares of common stock and issued on the 15th of August following termination of service as a director.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing. The acquisition of RSUs due to dividend equivalents is a neutral event.

Positives

• The acquisition of RSUs due to dividend equivalents suggests the company is performing well enough to pay dividends.

Future Outlook

The restricted stock units will be converted into shares of common stock and issued to the reporting person on the 15th of August following the date of termination of service as a director.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a director's acquisition of RSUs due to dividend equivalents, which is a common practice.

Stakeholder Impact

• The transaction has a minimal impact on stakeholders as it involves a small number of RSUs granted as dividend equivalents.

Key Dates