[Form 4] POPULAR, INC. Insider Trading Activity

Rhea-AI Filing Summary

Betty K. DeVita, a director of POPULAR, INC. (BPOP), reported receipt of 54 restricted stock units (RSUs) on 10/01/2025. The RSUs convert one-for-one into common stock and were credited as dividend equivalents tied to outstanding RSUs. After the transaction the reporting person directly beneficially owns 8,734 shares of common stock. The RSUs are payable as shares on the 15th of August following termination of service as a director, and dividend equivalents follow the same terms as the underlying RSUs.

Positive

• 54 RSUs credited to the reporting director on 10/01/2025
• Reporting person holds 8,734 shares of common stock following the transaction
• RSUs convert one-for-one into common stock; terms clearly disclosed

Negative

• None.

Insights

Corporate Governance Analyst

Director received 54 RSUs; total direct ownership now 8,734 shares.

The filing documents a routine equity compensation credit: 54 RSUs were allocated as dividend equivalents on existing RSU awards on 10/01/2025. These RSUs convert one-for-one into common shares and are subject to the issuer's post-service delivery schedule.

This is administratively important for shareholder registry and insider ownership calculations but does not indicate a change in control, executive hiring, or large-scale dilution. The timing and nature (dividend equivalents on RSUs) are explicitly disclosed in the form.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

DeVita Betty K

(Last) (First) (Middle)

P O BOX 362708

(Street)

SAN JUAN PR 00936-2708

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
POPULAR, INC. [ BPOP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	10/01/2025		A(2)		54		(3)	(3)	Common Stock Par Value $0.01 per share	54	$0	8,734	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. Reflects Restricted Stock Units ("RSUs") received by the reporting person as a result of dividend equivalents accrued with respect to outstanding RSUs granted to the reporting person. Dividend equivalents are accrued at the same rate and at the same time as dividends are paid to ordinary shareholders. Dividend equivalents on RSUs are subject to the same terms and conditions as the underlying RSUs.

3. Restricted stock units are converted into an equivalent number of shares of common stock and issued to the reporting person on the 15th of August following the date of termination of service as a director.

	Marie Reyes-Rodriguez, Attorney-in-fact	10/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did BPOP director Betty K. DeVita report on Form 4?

The director reported receipt of 54 restricted stock units (RSUs) dated 10/01/2025 and a total direct beneficial ownership of 8,734 common shares.

When do the RSUs reported for BPOP convert into shares?

The RSUs convert one-for-one into common stock and are issued on the 15th of August following termination of service as a director.

Why were the 54 RSUs granted to the reporting person?

The filing states the 54 RSUs were received as dividend equivalents accrued with respect to outstanding RSUs granted to the reporting person.

How many shares does the reporting person own after the transaction?

After the reported transaction the reporting person directly beneficially owns 8,734 shares of POPULAR, INC. common stock.