Popular (BPOP) director adds 79 RSUs as dividend equivalents and details indirect stake

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

POPULAR, INC. director Richard L. Carrion reported a small equity compensation update tied to existing awards. He received 79 restricted stock units (RSUs) as dividend equivalents on previously granted RSUs, with each unit convertible into one share of common stock.

After these entries, he holds 193,020 shares of common stock directly and has an indirect interest in 75,031 shares owned by Junior Investment Corporation, where he holds about 23.3234% interest. His outstanding RSU balance increased to 16,503 units, which convert into common stock on the 15th of August following the end of his board service.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider CARRION RICHARD L

Role null

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	79	$0.00	--
holding	Common Stock Par Value $0.01 per share	--	--	--
holding	Common Stock Par Value $0.01 per share	--	--	--

Holdings After Transaction: Restricted Stock Units — 16,503 shares (Direct, null); Common Stock Par Value $0.01 per share — 193,020 shares (Direct, null); Common Stock Par Value $0.01 per share — 75,031 shares (Indirect, Junior Investment Corporation)

Footnotes (1)

Represents Mr. Carrion's indirect ownership in the shares of Popular, Inc. owned by Junior Investment Corporation in which he has approximately 23.3234% interest. Restricted stock units convert into common stock on a one-for-one basis. 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. 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.

Key Figures

RSUs granted: 79 units RSUs outstanding: 16,503 units Direct common shares: 193,020 shares +3 more

6 metrics

RSUs granted 79 units Dividend equivalent RSUs granted to director

RSUs outstanding 16,503 units Total restricted stock units after transaction

Direct common shares 193,020 shares Direct POPULAR, INC. common stock holdings

Indirect common shares 75,031 shares Shares held by Junior Investment Corporation

Interest in entity 23.3234% Carrion’s interest in Junior Investment Corporation

RSU conversion ratio 1:1 Each RSU converts into one common share

Key Terms

Restricted Stock Units, dividend equivalents, indirect ownership, derivative transaction

4 terms

Restricted Stock Units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

dividend equivalents financial

"Dividend equivalents are accrued at the same rate and at the same time as dividends are paid"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

indirect ownership financial

"Represents Mr. Carrion's indirect ownership in the shares of Popular, Inc. owned by Junior Investment Corporation"

derivative transaction financial

"Reflects Restricted Stock Units ("RSUs") received by the reporting person as a result of dividend equivalents accrued"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:21 PM Accepted by SEC EDGAR 07/02/2026 - 04:21 PM

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).

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

PUERTO RICO

00936-2708

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock Par Value $0.01 per share								193,020	D
Common Stock Par Value $0.01 per share								75,031	I⁽¹⁾	Junior Investment Corporation

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽²⁾	07/01/2026		A⁽³⁾		79		⁽⁴⁾	⁽⁴⁾	Common Stock Par Value $0.01 per share	79	$0	16,503	D

Explanation of Responses:

1. Represents Mr. Carrion's indirect ownership in the shares of Popular, Inc. owned by Junior Investment Corporation in which he has approximately 23.3234% interest.

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

3. 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.

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.

	Marie Reyes-Rodriguez, Attorney-in-fact	07/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did POPULAR, INC. (BPOP) disclose for Richard L. Carrion?

POPULAR, INC. disclosed that director Richard L. Carrion received 79 restricted stock units as dividend equivalents on existing RSUs. These are compensation-related awards, not open-market trades, and increase his total RSU holdings while leaving his reported share counts otherwise unchanged.

How many POPULAR, INC. shares does Richard L. Carrion hold after this filing?

After this filing, Richard L. Carrion holds 193,020 shares of POPULAR, INC. common stock directly. He also has an indirect interest in 75,031 additional shares held by Junior Investment Corporation, giving investors a clearer view of his overall reported equity exposure.

What restricted stock units did Richard L. Carrion receive from POPULAR, INC. (BPOP)?

Richard L. Carrion received 79 restricted stock units as a grant categorized as a derivative transaction. These RSUs stem from dividend equivalents on outstanding awards and convert into an equal number of POPULAR, INC. common shares when ultimately settled under the plan’s terms.

How many restricted stock units does Richard L. Carrion now hold at POPULAR, INC.?

Following the 79-unit dividend equivalent grant, Richard L. Carrion holds 16,503 restricted stock units. Each RSU converts into one POPULAR, INC. common share, providing stock-based compensation that is generally settled after his service as a director ends under the specified schedule.

When are POPULAR, INC. restricted stock units for Richard L. Carrion delivered?

According to the disclosure, Richard L. Carrion’s restricted stock units are converted into an equivalent number of POPULAR, INC. common shares and issued on the 15th of August following the date his service as a director terminates, aligning delivery with his departure from the board.

What does Richard L. Carrion’s indirect ownership in POPULAR, INC. represent?

The filing states that 75,031 POPULAR, INC. shares are owned by Junior Investment Corporation. Richard L. Carrion’s reported indirect ownership reflects approximately 23.3234% interest in that entity, giving him an economic stake in those shares rather than direct share registration in his own name.