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

Director Richard L. Carrion reports acquisition of restricted stock units in Popular, Inc., vesting in 2026 and converting to common stock upon termination of service.

Summary

• Richard L. Carrion, a director of Popular, Inc. [BPOP], filed a Form 4 to report changes in beneficial ownership.
• The report indicates that on May 8, 2025, Mr. Carrion acquired 1,344 restricted stock units (RSUs) under the company's 2020 Omnibus Incentive Plan.
• These RSUs will vest on May 8, 2026, and convert into common stock on a one-for-one basis.
• The RSUs will be converted into shares of common stock and issued on the 15th of August following the date of termination of service as a director.
• Following the reported transaction, Mr. Carrion directly owns 218,020 shares of Popular, Inc. common stock.
• Mr. Carrion also indirectly owns 74,467 shares through Junior Investment Corporation, in which he has approximately a 22.0140% interest.
• He also owns 15,143 derivative securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it is a standard regulatory filing reporting a routine transaction. The acquisition of RSUs is generally viewed positively as it aligns management's interests with shareholders.

Positives

• The acquisition of restricted stock units aligns Mr. Carrion's interests with the long-term performance of Popular, Inc.

Future Outlook

The restricted stock units will convert into common stock upon termination of service as a director, indicating a future increase in Mr. Carrion's direct shareholding.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their alignment with shareholder interests.

Stakeholder Impact

• The reported transaction provides transparency to shareholders regarding insider ownership.

Key Dates

Keywords

Form 4, beneficial ownership, restricted stock units, Popular, Inc., BPOP, director, Richard L. Carrion, Junior Investment Corporation