Company: BPOPM
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0001193125-25-147021
Chunk: 13

Company: POPULAR, INC.
Filing Date: 2025-06-25
Form: 11-K
Chunk 13
---
.

Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a
tax liability (or asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has concluded that as of December 31, 2024 and December 31, 2023,
there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions. At December 31,
2024, the years 2021 and thereafter remained subject to examination; however, there are currently no audits for any tax periods in progress.

6. Risks and Uncertainties

The Plan’s investments are exposed to various risks, such as interest rate, market and credit risks. Due to the level of
risk associated with certain investments and the level of uncertainty related to changes in the values of investments, it is at least reasonably possible that changes in these factors in the near term could materially affect participants’
account balances and the amounts reported in the Statements of Net Assets Available for Benefits and the Statement of Changes in Net Assets Available for Benefits. Individual participants’ accounts bear the risk of loss resulting from
fluctuations in investment values.

7. Related Party Transactions

At December 31, 2024 and 2023, the Plan held 125,770 and 135,001 common shares of Popular, Inc., with a quoted market value of $11,829,920 and
$11,079,559, respectively. During the year ended December 31, 2024, the Plan purchased 10,231 common shares of Popular, Inc., with an acquisition price of $915,375 and completed sales and distributions of 19,462 shares which had a carrying
value of $885,596, resulting in a realized gain of $908,657. These transactions are permitted party-in-interest transactions under provisions of ERISA and the
regulations promulgated thereunder.

During the year ended December 31, 2024, the Plan Sponsor incurred in administrative expenses on behalf of the
Plan amounting to $13,041.

The accompanying Statements of Net Assets Available for Benefits, includes accrued dividend income of $88,131 and $83,131,
related to the dividends declared on Popular Inc.’s common stock during the fourth quarter of 2024 and 2023,