Company: BPOPM
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010189
Chunk: 78

Company: POPULAR, INC.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 78
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, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (1) for restricted stock awards, closing price on applicable year-end dates or, in the case of vesting dates, the actual vesting price, (2) for performance-based awards (excluding TSR Awards), the same valuation methodology as restricted stock awards above except year-end and vesting date values are multiplied by the probability of achievement as of each such date, and (3) for TSR-based performance awards, the fair value calculated by a Monte Carlo simulation model as of the applicable year-end date(s) or, in the case of vesting date, the actual vesting price and probability of achievement. |

| (iii) | The adjustments (exclusions and additions) made to the Summary Compensation Total (SCT) to calculate the Compensation Actually Paid (CAP) amount are the following: |

|      |     |           CEO |     |                     |     |                |     |  Non-CEO NEOs |     |                      |     |                  |
|      |     |  Stock Awards 
 Excluded from 
           SCT |     | Change in Pension   
 Value Excluded from 
 SCT(a)              |     | Value of Stock 
         Awards 
   Added to CAP 
      Amount(b) |     | Average Stock 
        Awards 
 Excluded from 
           SCT |     | Average Change in    
 Pension Value        
 Excluded from SCT(a) |     | Average Value of 
     Stock Awards 
  Included in CAP 
        Amount(b) |
| 2024 |     |    $3,491,878 |     | —                   |     |     $4,866,526 |     |      $758,965 |     | —                    |     |       $1,001,492 |

| (a) | This column contains the required accounting representation of the annual change in present value of the pension benefit as of December 31st. No additional pension benefits were earned in 2024, as the Corporation’s defined benefit plans have been frozen since 2009. |

| (b) | The amounts deducted or added in calculating the equity award adjustments are as follows: |

|              |     | Year |     |      Year-end 
 fair value of 
        equity 
        awards 
       granted 
    during the 
          year 
           ($) |     | Year over year 
 change in fair 
       value of 
    outstanding 
   and unvested 
  equity awards