Company: BPOPM
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010189
Chunk: 3

Company: POPULAR, INC.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 3
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TABLE OF CONTENTS

This summary highlights information contained elsewhere in this Proxy Statement. You should read the entire Proxy Statement before voting. Meeting Agenda and Voting Recommendations

| Proposal 1                                                                                                                                                                                                                                                                                                              |     |   |
| Election of Directors                                                                                                                                                                                                                                                                                                   |     |   |
| We are asking shareholders to elect 11 directors for a one-year term. The graph below sets forth information with respect to the 11 nominees. Additional information about the candidates and their respective qualifications can be found on the “Nominees for Election as Directors” section of this Proxy Statement. |     | ​ |

| Proposal 2                                                                                                                                                                                                                                                                                                               |
| Advisory Vote to Approve Executive Compensation                                                                                                                                                                                                                                                                          |
| ​We are asking shareholders to approve, on an advisory basis, the compensation of our named executive officers (“NEOs”) as described in the sections titled “Compensation Discussion and Analysis” and “2024 Executive Compensation Tables and Compensation Information.” We hold this advisory vote on an annual basis. |

| Proposal 3                                                                                                                                                                                                                                                                                                                                                                                 |
| Ratification of Auditors                                                                                                                                                                                                                                                                                                                                                                   |
| We are asking shareholders to ratify the Audit Committee’s appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for 2025. Information on fees paid to PricewaterhouseCoopers LLP during 2024 and 2023 appears in the “Proposal 3: Ratification of Appointment of Independent Registered Public Accounting Firm” section of this Proxy Statement. |

| 2 | 2025 POPULAR, INC. PROXY STATEMENT |

TABLE OF CONTENTS 2024 Corporate Governance Highlights

| PROXY STATEMENT SUMMARY  | 3 |

TABLE OF CONTENTS 2024 Corporate Performance and Executive
Compensation Highlights 2024 Financial Highlights Popular’s GAAP net income for 2024 amounted to approximately $614.2 million, compared to $541.3 million in 2023. Excluding expenses incurred in connection with the FDIC Special Assessment and the impact of the tax expense related to prior year intercompany distributions, adjusted net income for the year 2024 was approximately $646.1 million, a 10% increase compared to the previous year. This variance was mainly driven by higher net interest income, partially offset by higher provision for credit losses and higher operating expenses. The increase in net interest income was due to a higher volume of loans and to the increase of our net interest margin by 11 basis points due to higher yields, partially offset by higher deposit