Form 4: Richard L. Carrion Reports Changes in Beneficial Ownership of Popular, Inc. Stock

Director Richard L. Carrion reports changes in his beneficial ownership of Popular, Inc. stock, including the acquisition of restricted stock units due to dividend equivalents.

Summary

• Richard L. Carrion, a director of Popular, Inc., filed a Form 4 with the SEC on July 3, 2024, reporting changes in his beneficial ownership of the company's stock.
• The reported transactions include the acquisition of 98 restricted stock units (RSUs) on July 1, 2024, resulting from dividend equivalents accrued on previously granted RSUs.
• These RSUs convert into common stock on a one-for-one basis and will be issued on the 15th of August following the termination of his service as a director.
• Carrion's direct ownership of Popular, Inc. common stock remains at 217,968 shares.
• He also has indirect ownership of 74,467 shares through Junior Investment Corporation, in which he holds approximately a 22.0140% interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing is a standard disclosure of stock ownership changes, primarily related to dividend equivalents on existing RSUs. There is no indication of positive or negative performance.

Positives

• The acquisition of RSUs due to dividend equivalents suggests the company is performing well enough to pay dividends.

Future Outlook

The RSUs will convert into common stock on the 15th of August following the date of termination of service as a director.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates activity by a director of a publicly traded company.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the stock ownership of a company director.

Key Dates