Form 4: Popular, Inc. Executive Vice President Jorge J. Garcia Reports Acquisition of Restricted Stock

Executive Vice President and CFO of Popular, Inc., Jorge J. Garcia, reports the acquisition of 3,704 shares of restricted stock.

Summary

• On February 25, 2025, Jorge J. Garcia, Executive Vice President & CFO of Popular, Inc., acquired 3,704 shares of common stock.
• The acquisition was an award of restricted stock pursuant to Popular, Inc.'s Omnibus Incentive Plan.
• The stock was acquired at a price of $0 per share.
• Following the transaction, Garcia directly owns 16,659.782 shares of Popular, Inc. common stock.
• The restricted stock vests in equal annual installments on February 23 of 2026, 2027, 2028, and 2029.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard disclosure of stock acquisition by an executive, which doesn't inherently indicate positive or negative sentiment.

Positives

• The acquisition of restricted stock by a key executive could be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the holdings of company insiders.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock awards to align management's interests with those of shareholders.
• Vesting schedules, like the one described in the document, are common practice to incentivize long-term performance.
• Companies like First BanCorp. and OFG Bancorp, which operate in a similar market to Popular, Inc., also utilize stock-based compensation for their executives.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholder sentiment, as it signals confidence from a key executive.

Key Dates