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

Director Jose Ramon Rodriguez receives 76 restricted stock units of Popular, Inc. due to dividend equivalents accrued on existing RSUs.

Summary

• On October 1, 2024, Jose Ramon Rodriguez, a director of Popular, Inc., acquired 76 restricted stock units (RSUs) as a result of dividend equivalents accrued on previously granted RSUs.
• These RSUs are convertible into common stock on a one-for-one basis.
• The dividend equivalents are accrued at the same rate and time as dividends paid to ordinary shareholders and are subject to the same terms as the underlying RSUs.
• The RSUs will be converted into shares of common stock and issued on August 15 following the termination of service as a director.
• Following the transaction, Rodriguez directly owns 11,450 shares.
• The transaction was reported on October 3, 2024.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a stable and well-governed company. The sentiment is neutral to slightly positive.

Positives

• The receipt of dividend equivalents in the form of RSUs aligns the director's interests with those of the shareholders.

Industry Context

This is a routine disclosure related to insider transactions, specifically the receipt of dividend equivalents in the form of restricted stock units, which is a common practice for aligning director compensation with shareholder returns.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director compensation with dividend payouts.

Key Dates