Company: BPOPM
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010189
Chunk: 67

Company: POPULAR, INC.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 67
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 Vázquez’s retirement on March 31, 2024, the Committee approved a Long-Term Award of 80% of Mr. Vázquez’s base salary consisting of 7,332 shares of restricted stock determined based on the closing price of the Corporation’s common stock on the grant date, February 22, 2024, with a one-year vesting period, ending on March 31, 2025. The restricted stock awarded to Mr. Vázquez is subject to certain restrictive covenants, including customary confidentiality covenants, as well as non-competition and non-solicit restrictions that extend for one year after his retirement date.

| (d) | Represents the grant date fair value, in accordance with FASB ASC Topic 718, of the performance shares and restricted stock granted in 2024. |

2024 Outstanding Equity Awards at Fiscal Year End The following table sets forth certain information with respect to the value of all outstanding restricted stock and performance shares previously awarded to the NEOs (based on the closing price of Popular’s common stock as of December 31, 2024, which was $94.06).

| Stock Awards      |     |                        |     |                        |     |                            |     |                           |
| Name              |     |       Number of Shares 
 or Units of Stock That 
        Have Not Vested 
                 (#)(a) |     | Market Value of Shares 
 or Units of Stock That 
        Have Not Vested 
                    ($) |     |      Equity Incentive Plan 
                    Awards: 
 Number of Unearned Shares, 
 Units or Other Rights That 
            Have Not Vested 
                     (#)(b) |     |     Equity Incentive Plan 
                   Awards: 
 Market or Payout Value of 
 Unearned Shares, Units or 
         Other Rights That 
           Have Not Vested 
                       ($) |
| Ignacio Alvarez   |     |                 90,983 |     |             $8,557,861 |     |                     62,436 |     |                $5,872,730 |
| Jorge J. García   |     |                  9,183 |     |                863,753 |     |                      5,301 |     |                   498,612 |
| Carlos J. Vázquez |     |                 11,013 |     |              1,035,883 |     |                      6,177 |     |                   581,009 |
| Javier D