Form 4: Popular, Inc. Director Receives Dividend Equivalents in Restricted Stock Units

Jose Ramon Rodriguez, a director at Popular, Inc., acquired 90 restricted stock units representing dividend equivalents accrued on previously granted RSUs.

Summary

• On January 2, 2025, Jose Ramon Rodriguez, a director of Popular, Inc. (BPOP), acquired 90 Restricted Stock Units (RSUs) as dividend equivalents.
• These RSUs are based on dividend equivalents accrued with respect to outstanding RSUs previously granted to Rodriguez.
• The dividend equivalents are accrued at the same rate and time as dividends paid to ordinary shareholders and are subject to the same terms and conditions as the underlying RSUs.
• The RSUs convert into common stock on a one-for-one basis and will be converted into shares of common stock and issued on August 15th following termination of service as a director.
• Following the transaction, Rodriguez directly owns 11,540 derivative securities.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing indicates standard compensation practices and alignment of director interests with shareholders through dividend equivalents.

Positives

• The acquisition of RSUs as dividend equivalents aligns the director's interests with those of the shareholders.

Future Outlook

The RSUs 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

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the holdings and transactions of company insiders.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the director's interests with theirs through dividend equivalents.

Key Dates