Popular (BPOP) director boosts indirect holdings via Junior Investment

Rhea-AI Filing Summary

POPULAR, INC. director Richard L. Carrion reported a change in his indirect holdings of the company’s common stock through Junior Investment Corporation (JIC). His indirect ownership in Popular shares held by JIC increased by 564 shares after JIC redeemed a portion of shares from another JIC stockholder and reallocated Popular shares among remaining JIC shareholders on a pro rata basis.

Following this non-cash, internal reallocation, 75,031 Popular common shares are attributed to Carrion as indirect holdings through JIC, where he has approximately 23.3234% interest. He also directly holds 193,020 common shares and 15,429 restricted stock units. Each restricted stock unit converts into one share of common stock, which is issued on the 15th of August following his termination of service as a director.

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

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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)
02/19/2026

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	02/19/2026		J(1)		564	A	$0	75,031	I(2)	Junior Investment
Common Stock Par Value $0.01 per share								193,020	D

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	15,429		15,429	D

Explanation of Responses:

1. The reporting person's indirect ownership in the shares of Popular, Inc. owned by Junior Investment Corporation (JIC) increased by 564 shares as a result of JIC's redemption of a portion of the shares of JIC held by one of its stockholders. Upon such redemption, for purposes of ascribing indirect ownership in Popular, Inc. shares to the reporting person, the shares of Popular, Inc. held by JIC were reallocated among the shareholders of JIC on a pro rata basis in accordance with each stockholder's resulting ownership percentage in JIC after the redemption, resulting in the aforementioned increase.

2. 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.

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.

	Marie Reyes-Rodriguez, Attorney-in-act	02/20/2026
	** 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).
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FAQ

What insider transaction did Richard L. Carrion report at POPULAR, INC. (BPOP)?

Richard L. Carrion reported an increase of 564 indirect shares of Popular common stock. The change arose from an internal redemption and pro rata reallocation of Popular shares held by Junior Investment Corporation, not from an open-market purchase or sale.

How many POPULAR, INC. (BPOP) shares does Richard L. Carrion now hold indirectly?

After the reported change, 75,031 Popular common shares are attributed to Richard L. Carrion as indirect holdings through Junior Investment Corporation. This reflects his approximately 23.3234% interest in that entity following its redemption and reallocation transaction.

Did Richard L. Carrion buy or sell POPULAR, INC. (BPOP) shares on the open market?

The filing does not show an open-market buy or sell. The 564-share change in indirect ownership resulted from Junior Investment Corporation redeeming a stockholder’s JIC shares and reallocating its Popular holdings among remaining owners on a pro rata basis.

What are Richard L. Carrion’s direct share holdings in POPULAR, INC. (BPOP)?

Richard L. Carrion directly owns 193,020 shares of Popular common stock. These are separate from his indirect holdings through Junior Investment Corporation and represent his personal direct equity position in the company’s common shares.

How many restricted stock units does Richard L. Carrion hold in POPULAR, INC. (BPOP)?

He holds 15,429 restricted stock units. Each restricted stock unit converts into one share of common stock, which is issued on the 15th of August following the date he terminates service as a director.

When do Richard L. Carrion’s POPULAR, INC. (BPOP) restricted stock units convert to shares?

The restricted stock units convert into an equivalent number of common shares on a one-for-one basis. The shares are issued on the 15th of August following Richard L. Carrion’s termination of service as a director.