Company: BPOPM
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001140361-25-010189
Chunk: 75

Company: POPULAR, INC.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 75
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ested      |
| Change in Control         |     | Become Vested    |     | Become Vested      |
| Resignation               |     | Forfeiture       |     | Forfeiture         |
| Termination With Cause    |     | Forfeiture       |     | Forfeiture         |
| Termination Without Cause |     | Prorated Vesting |     | Prorated Vesting   |

| (c) | For grants prior to January 2014, retirement is defined as termination of employment on or after attaining age 55 and completing 10 years of service (except when termination is for cause). For grants after January 2014, the retirement definition was modified to be termination of employment on or after attaining the earlier of: (x) age 55 and completing 10 years of service, or (y) age 60 and 5 years of service (except when termination is for cause). Upon retirement, (i) regular restricted stock becomes vested and (ii) performance shares become vested with respect to the service requirement, but the actual number of shares earned is determined based on the achievement of the performance goals at the end of the performance period. |

| (d) | Outstanding awards are subject to double trigger for accelerated vesting in the event of a change in control. The following amounts are subject to double trigger: I. Alvarez, $12,473,014; J. García, $1,196,161; J. Ferrer, $4,237,497; L. Soriano, $2,436,248; and M. Chinea, $1,529,416. |

EXECUTIVE AND DIRECTOR COMPENSATION | 71

TABLE OF CONTENTS

| (e) | For I. Alvarez, J. Ferrer, L. Soriano and M. Chinea with respect to restricted stock, any resignation or termination without cause would be considered retirement since they are retirement eligible. Upon a termination without cause for NEOs that are not retirement eligible, outstanding regular restricted stock and performance shares are awarded on a prorated basis based on the number of full months in the vesting schedule in which the person was an active employee and such reduced award will vest immediately upon the termination of employment, calculated in the case of performance shares as if the target number of performance shares had in fact been earned. |

CEO Pay Ratio The table below sets forth comparative information regarding (A) the 2024 annual total compensation of Mr. Alvarez