Form 4: Popular, Inc. Director Rodriguez Reports Acquisition of Restricted Stock Units Due to Dividend Equivalents

Director Jose Ramon Rodriguez of Popular, Inc. reports acquiring 65 restricted stock units (RSUs) due to accrued dividend equivalents.

Summary

• On April 1, 2024, Jose Ramon Rodriguez, a director of Popular, Inc., acquired 65 restricted stock units (RSUs) as a result of dividend equivalents accrued on previously granted RSUs.
• These 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 and issued on August 15th following the termination of service as a director.
• Following the transaction, Rodriguez directly owns 9,065 shares.
• The reporting was signed by Marie Reyes-Rodriguez, Attorney-in-fact, on April 3, 2024.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of an insider transaction. It doesn't inherently indicate positive or negative sentiment about the company's performance.

Future Outlook

The RSUs will be converted into shares of common stock on August 15th following termination of service as a director.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the holdings and transactions of company directors. It is a standard practice for publicly traded companies.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects a change in the director's holdings.

Key Dates