Popular, Inc. Names Jorge J. García CEO; Lidio V. Soriano CFO (Effective 9/1/2026)

What Happened

• Popular, Inc. (BPOP) announced on July 23, 2026 (8-K filed Aug 20, 2026) that Jorge J. García will be promoted to President and Chief Executive Officer and Lidio V. Soriano will be promoted to Executive Vice President and Chief Financial Officer. Both appointments become effective September 1, 2026. The Talent and Compensation Committee approved their 2026 compensation arrangements on August 19, 2026.

Key Details

• Jorge J. García: annual base salary of $1,150,000 (effective Sept 1, 2026); target short-term cash incentive = 135% of base; target long-term equity incentive = 325% of base.
• One-time Promotion Award for García: $977,833 granted August 19, 2026 as restricted stock, representing the prorated four-month value of his new long-term equity target (shares determined by the closing stock price on Aug 19, 2026). Promotion Award follows same terms as García’s Feb 2026 restricted stock awards described in the 2026 Proxy Statement.
• Lidio V. Soriano: annual base salary of $670,000 (effective Sept 1, 2026); target short-term cash incentive = 80% of base; target long-term equity incentive = 120% of base. Other compensation terms follow the Corporation’s 2026 Proxy Statement for named executive officers.

Why It Matters

• These are material leadership and compensation changes: a new CEO and CFO start Sept 1, 2026 with approved base pay and incentive targets that align significant pay to cash and equity performance. Investors should note the one-time restricted stock grant for the CEO (value and grant date disclosed) and refer to the 2026 Proxy Statement for full terms, vesting, and potential impact on share-based compensation.