Popular, Inc. (BPOP) EVP Chinea reports stock grants and tax withholding moves
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
POPULAR, INC. Executive Vice President Manuel Chinea reported equity compensation activity in company stock. He received grants of 3,684 and 2,244 shares of common stock at no cost, described as restricted stock awards under Popular, Inc.'s Omnibus Incentive Plan that vest in equal annual installments on each of February 23, 2027, 2028, 2029, and 2030. On the same date, 1,509 and 905 shares of common stock were disposed of at $141.31 per share to cover tax liabilities through share withholding, rather than open-market sales. The filing also notes 3,426.443 phantom stock units outstanding, each economically equivalent to one common share and generally payable after his employment ends.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
CHINEA MANUEL
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock Par Value $0.01 per share | 3,684 | $0.00 | -- |
| Tax Withholding | Common Stock Par Value $0.01 per share | 1,509 | $141.31 | $213K |
| Grant/Award | Common Stock Par Value $0.01 per share | 2,244 | $0.00 | -- |
| Tax Withholding | Common Stock Par Value $0.01 per share | 905 | $141.31 | $128K |
| holding | Phantom Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock Par Value $0.01 per share — 34,998.89 shares (Direct);
Phantom Stock — 3,426.443 shares (Direct)
Footnotes (1)
- Includes 71.093 shares acquired pursuant to reinvestment of dividends paid by the Corporation. The shares were acquired in transaction exempt from Section 16 of the Securities Exchange Act of 1934 pursuant to Rule 16a-11 thereunder. Award of restricted stock pursuant to Popular, Inc.'s Omnibus Incentive Plan. The award vests in equal annual installments on each of February 23, 2027, 2028, 2029, 2030. Each share of phantom stock is the economic equivalent of one share of the Corporation's common stock. Shares of phantom stock are payable following the termination of the reporting person's employment with the Corporation. The reporting person may transfer his phantom stock account into an alternative investment account at any time.
FAQ
What insider transactions did BPOP executive Manuel Chinea report on this Form 4?
Manuel Chinea reported stock-based compensation activity, including grants and tax-related share withholding. He received new Popular, Inc. common shares as restricted stock awards and had some shares withheld at a stated price to satisfy associated tax obligations, rather than selling shares in the open market.
What does the tax-withholding disposition in Manuel Chinea’s BPOP Form 4 mean?
The filing shows dispositions of 1,509 and 905 Popular, Inc. shares at $141.31 per share for tax withholding. This indicates shares were delivered back to the issuer to cover tax liabilities tied to equity awards, not discretionary sales into the open market by the executive.
When do Manuel Chinea’s BPOP restricted stock awards vest?
The restricted stock awards to Manuel Chinea vest in equal annual installments on February 23 of 2027, 2028, 2029, and 2030. This multi-year vesting schedule ties his equity compensation to continued service with Popular, Inc. over that period, aligning incentives with long-term employment.
What is the phantom stock reported for BPOP’s Manuel Chinea, and how does it work?
The Form 4 notes 3,426.443 phantom stock units for Manuel Chinea, each economically equal to one Popular, Inc. common share. These units are generally payable after his employment ends, and he may transfer the phantom stock balance into an alternative investment account at any time.