Form 4: Popular, Inc. Director Myrna Soto Reports Acquisition of Restricted Stock Units

Director Myrna Soto reports acquisition of restricted stock units and shares through dividend reinvestment.

Summary

• On October 1, 2024, Myrna Soto, a director of Popular, Inc., reported changes in beneficial ownership of the company's securities.
• Soto acquired 127 restricted stock units (RSUs) due to dividend equivalents accrued on previously granted RSUs.
• These RSUs convert into common stock on a one-for-one basis.
• Soto also acquired 3,251.627 shares of common stock through dividend reinvestment.
• Following these transactions, Soto directly owns 18,989 derivative securities and 3,251.627 shares of common stock.
• The dividend reinvestment shares were acquired in transactions exempt from Section 16 of the Securities Exchange Act of 1934 pursuant to Rule 16a-11 thereunder.
• The RSUs will be converted into shares and issued in equal annual installments on each 15th of August of the first five years following the date of termination of service as a director.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects routine transactions related to director compensation and dividend reinvestment, indicating stability and confidence.

Positives

• The acquisition of shares through dividend reinvestment indicates confidence in the company's future performance.

Future Outlook

The RSUs will be converted into shares and issued in equal annual installments on each 15th of August of the first five years following the date of termination of service as a director.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company insider, which is common in the financial industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders to report transactions in their company's stock, ensuring transparency and compliance with SEC regulations.
• Similar filings are made by insiders at companies like JPMorgan Chase, Bank of America, and Citigroup when they buy or sell shares of their respective companies.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to director compensation and dividend reinvestment.

Key Dates