[Form 4] POPULAR, INC. Insider Trading Activity

Rhea-AI Filing Summary

Maria Luisa Ferre, a director of POPULAR, Inc. (BPOP), reported changes in her beneficial ownership on 10/01/2025. The filing shows a disposition of 36,940.763 shares of common stock and indirect ownership of 13,541 shares held by The Luis A. Ferre Foundation, Inc. The report also records receipt of 98 restricted stock units (RSUs) dated 10/01/2025, which convert one-for-one into common shares and are issued on the 15th of August following termination of directorship. Following the reported derivative transaction, the filing lists 16,080 shares beneficially owned by the reporting person.

Positive

• Received 98 RSUs as dividend equivalents, increasing long-term equity alignment
• Indirect holdings of 13,541 shares remain via The Luis A. Ferre Foundation, Inc.

Negative

• Disposed 36,940.763 shares on 10/01/2025, reducing direct share count
• Reported beneficial ownership after transactions shows 16,080 shares, indicating a net decline in direct holdings compared with the disposed amount

Insights

Insider Transactions Analyst

Director sold 36,940.763 shares and received 98 RSUs on 10/01/2025.

The Form 4 discloses a disposition of 36,940.763 shares and the acquisition of 98 RSUs tied to dividend equivalents. The filing separately records 13,541 shares held indirectly by The Luis A. Ferre Foundation, Inc.

Reported RSUs convert into common stock one-for-one and are issued on the 15th of August after a director's service termination; the report shows 16,080 total shares beneficially owned after the derivative entry.

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
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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^*

Ferre Maria Luisa

(Last) (First) (Middle)

P.O. BOX 11924

(Street)

SAN JUAN PR 00922-1924

(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
Common Stock Par Value $0.01 per share								36,940.763(1)	D
Common Stock Par Value $0.01 per share								13,541	I(2)	The Luis A. Ferre Foundation, Inc.

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	(3)	10/01/2025		A(4)		98		(5)	(5)	Common Stock Par Value $0.01 per share	98	$0	16,080	D

Explanation of Responses:

1. Includes 193.632 shares acquired pursuant to reinvestment of dividends paid by the Corporation. The shares were acquired in transactions exempt from Section 16 of the Securities Exchange Act of 1934 pursuant to Rule 16a-11 thereunder.

2. Ms. Ferre is the President and a Trustee of the Luis A Ferre Foundation, Inc.

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

4. 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.

5. 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 Maria Luisa Ferre file in the Form 4 for BPOP?

The Form 4 reports a disposition of 36,940.763 shares and the acquisition of 98 restricted stock units (RSUs) on 10/01/2025.

How many shares does Maria Luisa Ferre indirectly own via the foundation?

The filing shows 13,541 shares held indirectly by The Luis A. Ferre Foundation, Inc.

When do the reported RSUs convert into common stock?

The RSUs convert on a one-for-one basis and are issued on the 15th of August following termination of service as a director, per the filing.

What is the beneficial ownership after the reported derivative transaction?

The Form 4 lists 16,080 shares beneficially owned following the reported derivative transaction.

Who signed the Form 4 on behalf of the reporting person?

The form is signed by Marie Reyes-Rodriguez, Attorney-in-fact on 10/03/2025.