4/A: Popular, Inc. Director Corrects Stock Unit Title in Amended SEC Filing

Bertil E. Chappuis, a director of Popular, Inc., filed an amendment to a previous Form 4 to correct the security title of a reported transaction involving restricted stock units.

Summary

• Bertil E. Chappuis, a director at Popular, Inc., filed an amended Form 4 with the SEC.
• The amendment corrects a mistake in the original filing from July 3, 2024, which incorrectly identified the security title as 'Common Stock Par Value $0.01 per share'.
• The correct title of the security for the reported transaction is 'Restricted Stock Units'.
• The transaction on July 1, 2024, involved the acquisition of 10 Restricted Stock Units (RSUs) due to dividend equivalents accrued on existing RSUs.
• These RSUs will convert to common stock on a one-for-one basis upon termination of service as a director, specifically on the 15th of August following termination.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing, indicating standard corporate governance practices. The sentiment is neutral to slightly positive as it reflects transparency and adherence to regulatory requirements.

Future Outlook

The RSUs will be converted into an equivalent number of 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

This filing is a routine disclosure related to insider transactions and is required by the SEC to ensure transparency in the market.

Stakeholder Impact

• The correction ensures accurate information is available to shareholders regarding insider holdings.
• The filing demonstrates compliance with SEC regulations, which is important for maintaining investor confidence.

Key Dates