Company: BPOPM
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010189
Chunk: 76

Company: POPULAR, INC.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 76
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, our current CEO, (B) the 2024 annual total compensation of our median employee identified in 2022, and (C) the ratio of our CEO’s 2024 annual total compensation compared to the 2024 annual total compensation of our median employee. For 2024, the ratio of Mr. Alvarez’s 2024 annual total compensation to the 2024 annual total compensation of our median employee was approximately 129 to 1.

| CEO 2024 annual total compensation (A)             |     | $6,158,410 |
| Median employee 2024 annual total compensation (B) |     |    $47,737 |
| Ratio of (A) to (B)                                |     |      129:1 |

The pay ratio rules allow issuers to use the same median employee for comparison purposes for up to three years. Our median employee was selected in 2022 and is used for comparison purposes in this Proxy Statement. As of December 18, 2022, when our median employee was selected, our global employee population consisted of 8,944 individuals, including full-time, part-time, temporary, and seasonal employees. U.S. employees comprised 8,880 of global employees and 64 were non-U.S. employees. In determining the identity of our median employee, we excluded 64 employees from the following countries, which in aggregate represents less than 5% of our workforce: Costa Rica (19 employees); Colombia (14 employees); and British Virgin Islands (31 employees). After excluding the countries and employees described above, we determined the identity of our median employee from a total population of 8,880 U.S. employees as of December 18, 2022, which was the closing date for the last payroll period in 2022 for our non-exempt employees. Compensation data for these employees was gathered as of the last date of the 2022 payroll period for non-exempt and exempt employees, December 18, 2022 and December 25, 2022, respectively (excluding our CEO). Total annual compensation was determined by applying a consistent compensation measure to all employees and using data reflected in our payroll records that included all elements of compensation paid in 2022 (salary, overtime pay, commissions, cash bonus, the value of vested restricted shares, dividends paid on nonvested restricted shares, etc.). We annualized base compensation for full-time and part-time employees who did not work for us the entire year. No full-time equivalent adjustments