SEC Form 4 · accession 0001209191-19-005702
POPULAR, INC. · BPOP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ignacio Alvarez
Officer — CEO & PRESIDENT · Director
Period of report
Jan 25, 2019
Accepted (ET)
Jan 29, 2019 · 12:40 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 shareF1,F2 | Jan 27, 2019 | M | 11,674 | — | A | 112,655 | D | |
| Common Stock Par Value $0.01 per share | Jan 27, 2019 | F | 4,127 | $53.48 | D | 108,528 | D | |
| Common Stock Par Value $0.01 per share | Jan 27, 2019 | F | 1,199 | $53.48 | D | 107,329 | D | |
| Common Stock Par Value $0.01 per shareF3 | holding | — | — | — | 3,260 | I | by son |
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,F5 | $0.00 | Jan 25, 2019 | A | 11,674 | A | — | — | Common Stock Par Value $0.01 per share | 11,674 | 11,674 | D |
| Restricted Stock UnitsF1,F6 | — | Jan 27, 2019 | M | 11,674 | D | — | — | Common Stock Par Value $0.01 per share | 11,674 | 0 | D |
Explanation of responses
- F1Restricted Stock Units convert into an equivalent number of shares of Common Stock.
- F2Includes 408.921 shares acquired since Mr. Alvarez's last Form 4, pursuant to reinvestment of dividends paid by the Corporation in transactions exempt from Section 16 of the Securities Exchange Act.
- F3Includes 34.822 shares acquired since Mr. Alvarez's last Form 4, pursuant to reinvestment of dividends paid by the Corporation in transactions exempt from Section 16 of the Securities Exchange Act.
- F4Reflects performance-based vesting of performance share units granted to the reporting person on January 27, 2016 and accrued dividend equivalents thereunder converted into restricted stock units ("RSUs"), in each case, subject to continued time-based vesting conditions.
- F5The underlying RSUs remain subject to continued time-based vesting conditions through January 27, 2019. Upon vesting, restricted stock units are converted into an equivalent number of shares of Common Stock that are distributed to the reporting person.
- F6On January 25, 2019, 11,674 performance share units granted to the reporting person on January 27, 2016 were converted into restricted stock units upon their performance-based vesting. The restricted stock units remained subject to continued time-based vesting conditions through January 27, 2019.