Company: BPOPM
Filing Date: 2025-06-27
Form Type: 8-K
Source: 0001193125-25-150720
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Company: POPULAR, INC.
Filing Date: 2025-06-27
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers  

On June 27, 2025, the Board of Directors of Popular, Inc. (the “ Corporation”) appointed Javier D. Ferrer to serve as a director of the Corporation, effective July 1, 2025.

Mr. Ferrer has been appointed President and Chief Executive Officer of the Corporation effective July 1, 2025. Mr. Ferrer has also been appointed as President and Chief Executive Officer of the Corporation’s bank holding company subsidiary, Popular North America, Inc. (“ PNA”), and its two banking subsidiaries, Banco Popular de Puerto Rico (“ BPPR”) and Popular Bank (“ PB”), in each case effective July 1, 2025. Mr. Ferrer has served, since May 2024, as President and Chief Operating Officer of the Corporation, PNA and BPPR and as President of PB, overseeing all business units in Puerto Rico, the mainland United States and the Virgin Islands, as well as directing the Corporation’s strategic planning and data and analytics functions.

There are no arrangements or understandings between Mr. Ferrer and any other person pursuant to which Mr. Ferrer was selected to serve as director of the Corporation. There are no family relationships between Mr. Ferrer and any director or executive officer of the Corporation. BPPR, the Corporation’s Puerto Rico-based banking subsidiary, has several outstanding loan transactions with Mr. Ferrer, his immediate family and entities controlled by them that were made in the ordinary course of business, on substantially the same terms, including interest rates and collateral, as those prevailing for comparable loan transactions with third parties, and did not involve and do not currently involve more than normal risks of collection or present other unfavorable features.