[Form 4] POPULAR, INC. Insider Trading Activity

Rhea-AI Filing Summary

Popular, Inc. (BPOP) director reported a sale of common stock. On 11/24/2025, the director sold 25,000 shares of Popular common stock at a weighted average price of $113.50, with individual trade prices ranging from $113.50 to $113.53. After this sale, the director beneficially owns 193,020 shares directly and 74,467 shares indirectly through Junior Investment Corporation, in which he has approximately 22.014% interest. The filing also notes 15,335 restricted stock units, which convert into common shares on a one-for-one basis and are issued on the 15th of August following the date the director’s service ends.

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

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CARRION RICHARD L

(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)
11/24/2025

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	11/24/2025		S		25,000	D	$113.5(1)	193,020	D
Common Stock Par Value $0.01 per share								74,467	I(2)	Junior Investment

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)							(4)	(4)	Common Stock Par Value $0.01 per share	0		15,335	D

Explanation of Responses:

1. The price is a weighted average price. The shares were sold in multiple transactions ranging from $113.50 to $113.53, inclusive. The reporting person undertakes to provide to the Corporation, any security holder of the Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

2. Represents Mr. Carrion's indirect ownership in the shares of Popular, Inc. owned by Junior Investment Corporation in which he has approximately 22.014% interest.

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

4. 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.

	Daniel E. Gonzalez Ortiz, Attorney-in-fact	11/25/2025
	** 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 insider transaction did Popular, Inc. (BPOP) report in this Form 4?

The filing reports that a director of Popular, Inc. sold 25,000 shares of common stock on 11/24/2025, coded as a sale transaction.

At what price were the BPOP shares sold in the reported insider transaction?

The 25,000 shares of Popular, Inc. common stock were sold at a weighted average price of $113.50, with individual sales occurring between $113.50 and $113.53.

How many Popular, Inc. (BPOP) shares does the director own after the sale?

After the reported sale, the director beneficially owns 193,020 shares directly and 74,467 shares indirectly through Junior Investment Corporation.

What is the nature of the indirect ownership reported for BPOP?

The indirect holdings represent shares of Popular, Inc. owned by Junior Investment Corporation, in which the director has an approximately 22.014% interest.

What restricted stock units (RSUs) does the Popular, Inc. director hold?

The director holds 15,335 restricted stock units, each converting one-for-one into Popular, Inc. common stock and issued on the 15th of August following the director’s termination of service.

What type of security was involved in the Popular, Inc. Form 4 transaction?

The transaction involved common stock, par value $0.01 per share, of Popular, Inc., reported as a sale in Table I of the Form 4.