SEC Form 4 · accession 0001209191-18-013718
POPULAR, INC. · BPOP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Javier D. Ferrer
Officer — Executive VP & General Counsel
Period of report
Jan 27, 2018
Accepted (ET)
Feb 27, 2018 · 9:00 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000763901
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock Par Value $0.01 per share | Jan 27, 2018 | F | 612 | $40.40 | D | 24,099 | D | |
| Common Stock Par Value $0.01 per share | Feb 23, 2018 | A | 5,125 | $0.00 | A | 29,224 | D | |
| Common Stock Par Value $0.01 per share | Feb 24, 2018 | F | 238 | $42.93 | D | 28,986 | D | |
| Common Stock Par Value $0.01 per shareF2 | holding | — | — | — | 1,167 | I | by wife |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3 | $0.00 | holding | — | — | — | — | — | Common Stock Par Value $0.01 per share | 2,049 | 2,049 | D |
Explanation of responses
- F1Award of restricted stock pursuant to Popular, Inc.'s Omnibus Incentive Plan. Eighty percent (80%) of the award vests in equal annual installments on each of the first four (4) anniversaries of the grant date, and twenty percent (20%) of the award vests upon termination of the executive's employment after attaining (x) age 55 with 10 years of service or (y) age 60 with 5 years of service.
- F2Mr. Ferrer disclaims beneficial ownership of Popular Inc.'s shares held by his wife and has no investment authority over those shares.
- F3The underlying RSUs remain subject to continued time-based vesting conditions through February 27, 2018. Upon vesting, restricted stock units are converted into an equivalent number of shares of Common Stock that are distributed to the reporting person.