CARRADY ROBERT 4

What Happened

Robert Carrady, a director of Popular, Inc. (BPOP), received an award of 1,477 restricted stock units (RSUs) on May 8, 2026. The RSUs were granted at $0.00 per unit (transaction code A) — a derivative equity award rather than a purchase — so the reported acquisition value is $0.00.

Key Details

• Transaction date: May 8, 2026; Form 4 filed May 11, 2026.
• Security/amount: 1,477 restricted stock units (convertible one-for-one into common shares).
• Price: $0.00 per RSU; reported acquisition value $0.00.
• Vesting: Award vests on May 8, 2027 (per filing).
• Conversion/issuance: RSUs convert 1:1 into common stock; if director service ends, converted shares are issued on the August 15 following termination (per filing).
• Indirect holdings: Some Popular common stock is held by Plaza Escorial Cinema Corp., of which Mr. Carrady owns a 62.5% interest (footnote).
• Shares owned after transaction: Not disclosed in the provided filing.
• Filing timeliness: Form filed May 11 for the May 8 transaction; no late-filing flag noted in the filing provided.

Context

RSUs are a form of equity compensation that convert into company shares on vesting; this grant increases Mr. Carrady’s potential future equity stake if vesting conditions are met. This was a compensation award (not an open-market purchase or sale) and should be viewed as a grant under the company’s 2020 Omnibus Incentive Plan, not as an immediate cash-based investment decision.