CHINEA MANUEL 4

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.