Company: BPOPM
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010189
Chunk: 81

Company: POPULAR, INC.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 81
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 75,000 |
| Additional Retainers                                                                     |     |          |
| Chairman Retainer                                                                        |     |  150,000 |
| Lead Independent Director Equity Grant                                                   |     |   25,000 |
| Audit and Risk Committee Chair Retainer                                                  |     |   30,000 |
| Talent and Compensation and Corporate Governance and Nominating Committee Chair Retainer |     |   20,000 |

The compensation program corresponds to the 12-month period that commences on the date of the annual meeting of shareholders. Under the current director compensation program, all retainers are paid in either cash or equity, at the director’s election. Similarly, all equity awards granted to the director may be paid in either common stock or restricted stock units under the Corporation’s omnibus incentive plan. All equity awards will vest and become non-forfeitable on the grant date of such award. At the director’s option, the shares of common stock underlying the restricted stock unit award are delivered to the director either on the 15 thday of August immediately following the date of retirement of the director or in equal annual installments on each 15 thof August of the 1 st, 2 nd, 3 rd, 4 thand 5 thyear after the date of retirement of the director. To the extent that cash dividends are paid on the Corporation’s outstanding common stock, the director will receive an additional number of restricted stock units that reflect reinvested dividend equivalents. Popular reimburses directors for travel expenses incurred in connection with attending Board, committee and shareholder meetings, participating in continuing director education programs and for other Popular-related business expenses, including the travel expenses of spouses if they are specifically invited to attend the event for appropriate business purposes. On July 1, 2019, after serving two years as Executive Chairman and 26 years as Chief Executive Officer of the Corporation, Mr. Carrión transitioned into service as non-executive Chairman of the Board. Upon Mr. Carrión’s transition, the Corporate Governance and Nominating Committee approved a compensation structure for Mr. Carrión in his role as non-executive chairman. Such compensation structure was determined after considering peer practices, the Chairman’s additional significant responsibilities and required time commitment, as well as the contributions that Mr. Carrión brings to the Board due to his experience and leadership in, and knowledge of, the financial services industry, the Corporation, its business and markets. The compensation program for the Chairman of the Board consists of an annual chairman ret