Company: BPOPM
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0001193125-25-147021
Chunk: 5

Company: POPULAR, INC.
Filing Date: 2025-06-25
Form: 11-K
Chunk 5
---
 employment with the Corporation. These contributions and actual earnings thereon vest in accordance with the following schedule:

| Years of Service |     | Vesting % |     |
| At least 1       |     |           |  20 |
| At least 2       |     |           |  40 |
| At least 3       |     |           |  60 |
| At least 4       |     |           |  80 |
| 5 or more        |     |           | 100 |

Notes receivable from participants Participants may borrow against their fund accounts a minimum of $1,000 up to a maximum of the lesser of $50,000 or 50% of the vested portion of the participant’s equity in the Plan. Loan transactions are treated as a transfer to (from) the investment fund from (to) notes receivable from participants. Loan terms range from one to five years, or longer if used to acquire a principal residence. Loans are collateralized by the balance in the participant’s account and bear interest at a rate commensurate with prevailing rates as determined by the Plan Administrator. As of December 31, 2024, and 2023 interest rates ranged from 4.25% to 9.50%. Principal and interest are paid ratably through bi-weeklypayroll deductions. Payment of Benefits and Withdrawals Plan participants are permitted to make withdrawals from the Plan from after-taxcontributions balance, subject to provisions in the Plan Document as amended. If a participant suffers financial hardship, as defined in the Plan Document, the participant may request a withdrawal from his/her pre-taxcontributions balance. Upon termination of service due to disability, retirement or other reasons, the Plan provides that benefits be distributed in a lump sum distribution in cash, with the exception of those participants that are required to receive required minimum distributions, in flexible installment distributions. In the case of participant termination due to death, the entire vested amount is paid to the person or persons legally entitled thereto. Plan termination Although it has not expressed any intent to do so, the Plan Sponsor may terminate the Plan for any reason at any time, in which event there shall be no employer duty to make contributions. In the event of termination, all participants become fully vested and have a non-forfeitableright to their full account balance. Plan Expenses and Administration The Plan is administered by Popular, Inc.’s Benefits Committee (the “Committee”) which, in turn, may delegate certain administrative functions to other committees and/or