SEC Form 4 · accession 0001209191-18-013828
POPULAR, INC. · BPOP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Richard L Carrion
Officer — Executive Chairman · Director
Period of report
Jan 27, 2018
Accepted (ET)
Feb 27, 2018 · 3:30 pm 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 | 4,022 | $40.40 | D | 361,781 | D | |
| Common Stock Par Value $0.01 per share | Feb 23, 2018 | A | 11,880 | $0.00 | A | 373,661 | D | |
| Common Stock Par Value $0.01 per share | Feb 24, 2018 | F | 1,563 | $42.93 | D | 372,098 | D | |
| Common Stock Par Value $0.01 per share | holding | — | — | — | 23 | I | by son | |
| Common Stock Par Value $0.01 per shareF2 | holding | — | — | — | 3,408 | I | by Spouse | |
| Common Stock Par Value $0.01 per shareF3 | holding | — | — | — | 81,955 | I | Junior Investment |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF4 | $0.00 | holding | — | — | — | — | — | Common Stock Par Value $0.01 per share | 10,429 | 10,429 | 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.
- F2Shares held by the estate of Mr. Carrion's deceased spouse.
- F3Represents Mr. Carrion's indirect ownership in the shares of the Corporation owned by Junior Investment Corporation in which he has approximately 16.99% interest.
- F4The 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.