SEC Form 4 · accession 0001209191-18-013769
POPULAR, INC. · BPOP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Manuel Chinea
Officer — Executive Vice President
Period of report
Feb 24, 2018
Accepted (ET)
Feb 27, 2018 · 11:47 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 shareF2 | Feb 23, 2018 | A | 3,727 | $0.00 | A | 19,315 | D | |
| Common Stock Par Value $0.01 per share | Feb 24, 2018 | F | 261 | $42.93 | D | 19,054 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF3,F4 | — | holding | — | — | — | — | — | Common Stock Par Value $0.01 per share | 2,721 | 2,721 | 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.
- F2Includes 93.38 shares acquired since Mr. Chinea's last Form 5, pursuant to reinvestment of dividends paid by the Corporation in transactions exempt from Section 16 of the Securities Exchange Act
- F3Each share of phantom stock is the economic equivalent of one share of the Corporation's common stock.
- F4Shares 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.