CHINEA MANUEL 4
4 · POPULAR, INC. · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Popular (BPOP) EVP Manuel Chinea Receives Awards; Shares Withheld
What Happened
Manuel Chinea, Executive Vice President of Popular, Inc. (BPOP), received two equity awards on 2026-02-25 totaling 5,928 shares (3,684 and 2,244 shares) granted at $0.00. To satisfy tax obligations tied to awards/compensation, 2,414 shares were surrendered/withheld on the same date (1,509 and 905 shares) at $141.31 per share, generating total proceeds of about $341,123. The awards include restricted stock subject to multi-year vesting and phantom stock components (see key details).
Key Details
- Transaction date: 2026-02-25; Form 4 filed 2026-02-27 (timely filing).
- Grants: 3,684 and 2,244 shares (granted at $0.00).
- Withholdings/disposals (tax payment): 1,509 shares and 905 shares sold/forfeited at $141.31 each; total value ≈ $341,123.
- Vesting: Restricted stock award vests in equal annual installments on Feb 23 of 2027, 2028, 2029 and 2030 (footnote).
- Dividend reinvestment: filing notes 71.093 shares acquired via dividend reinvestment under Rule 16a-11 (exempt).
- Phantom stock: each phantom share is economically equivalent to one common share and is payable after termination; the account may be transferred into an alternative investment account (footnotes).
- Shares owned after the reported transactions: not specified in the provided summary of the filing.
Context
These transactions are award grants combined with routine tax-withholding disposals — common when restricted or phantom stock vests. The disposals were to cover tax liability (code F), not open-market selling to indicate new market conviction. The restricted stock vests over several years; phantom stock provides an economic equivalent and is payable upon termination per the filing.
Insider Transaction Report
- Award
Common Stock Par Value $0.01 per share
[F1]2026-02-25+3,684→ 34,998.89 total - Tax Payment
Common Stock Par Value $0.01 per share
2026-02-25$141.31/sh−1,509$213,237→ 33,489.89 total - Award
Common Stock Par Value $0.01 per share
[F2]2026-02-25+2,244→ 35,733.89 total - Tax Payment
Common Stock Par Value $0.01 per share
2026-02-25$141.31/sh−905$127,886→ 34,828.89 total
- 3,426.443
Phantom Stock
[F3][F4]→ Common Stock Par Value $0.01 per share (3,426.443 underlying)
Footnotes (4)
- [F1]Includes 71.093 shares acquired pursuant to reinvestment of dividends paid by the Corporation. The shares were acquired in transaction exempt from Section 16 of the Securities Exchange Act of 1934 pursuant to Rule 16a-11 thereunder.
- [F2]Award of restricted stock pursuant to Popular, Inc.'s Omnibus Incentive Plan. The award vests in equal annual installments on each of February 23, 2027, 2028, 2029, 2030.
- [F3]Each share of phantom stock is the economic equivalent of one share of the Corporation's common stock.
- [F4]Shares of phantom stock are payable following the termination of the reporting person's employment with the Corporation. The reporting person may transfer his phantom stock account into an alternative investment account at any time.