Form 4: Popular, Inc. Director Richard L. Carrion Reports Acquisition of Restricted Stock Units and Existing Holdings

Popular, Inc. Director Richard L. Carrion reported the acquisition of 98 Restricted Stock Units as dividend equivalents, alongside his existing direct and indirect holdings of common stock, effective July 1, 2025.

Summary

• Director Richard L. Carrion reported his beneficial ownership and a recent transaction in Popular, Inc. securities.
• As of the filing, Mr. Carrion directly owns 218,020 shares of Common Stock (Par Value $0.01 per share).
• He indirectly owns 74,467 shares of Common Stock through Junior Investment Corporation, where he holds approximately a 22.0140% interest.
• On July 1, 2025, Mr. Carrion acquired 98 Restricted Stock Units (RSUs) as dividend equivalents. These RSUs accrue at the same rate as dividends paid to ordinary shareholders and are subject to the same terms as the underlying RSUs.
• Following this transaction, Mr. Carrion beneficially owns 15,241 Restricted Stock Units.
• The RSUs convert into common stock on a one-for-one basis and are issued to the reporting person on August 15th following the date of termination of service as a director.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 7

Explanation: The filing indicates a routine, pre-planned acquisition of equity compensation by a director, which is generally a positive sign of continued alignment with shareholder interests and confidence in the company. There are no negative disclosures.

Positives

• Acquisition of 98 Restricted Stock Units (RSUs) by a director, indicating continued alignment of interests with shareholders through equity compensation.
• The RSUs are dividend equivalents, meaning the director is receiving additional equity based on dividends paid to common shareholders, which is a positive mechanism for long-term retention and alignment.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged, compliant transaction.

Future Outlook

The filing indicates that Restricted Stock Units (RSUs) will convert into common stock on a one-for-one basis and be issued to the reporting person on August 15th following the date of termination of service as a director, aligning future compensation with long-term service.

Industry Context

This Form 4 filing reflects a routine insider transaction, specifically the acquisition of dividend equivalent Restricted Stock Units by a director. Such transactions are common in the financial services industry, where executive and director compensation often includes equity components to align interests with shareholders. It does not provide broader industry trends but rather details a specific compensation event for a key individual at Popular, Inc.

Comparison to Industry Standards

• This filing details a standard equity compensation mechanism (Restricted Stock Units with dividend equivalents) for a director, which is a common practice across publicly traded companies, including those in the financial sector.
• The structure of RSUs vesting upon termination of service is a typical long-term incentive design.
• No specific comparable companies or projects are mentioned in the document to allow for a direct comparative assessment of results.

Related Party Transactions

• Richard L. Carrion's indirect ownership of 74,467 shares of Common Stock through Junior Investment Corporation, in which he has approximately a 22.0140% interest, constitutes a related party transaction.

Stakeholder Impact

• Shareholders: The acquisition of additional equity by a director, particularly through dividend equivalents, aligns the director's interests more closely with shareholders, potentially fostering long-term value creation.

Next Steps

• Restricted Stock Units will convert into common stock on a one-for-one basis.
• The converted shares will be issued to the reporting person on August 15th following the date of termination of service as a director.

Key Dates

Keywords

Popular Inc., BPOP, SEC Form 4, Insider Trading, Director Holdings, Restricted Stock Units, Equity Compensation, Dividend Equivalents, Richard L. Carrion, Corporate Governance