Popular, Inc. Adjusts Executive Compensation Arrangements

TL;DR

**Popular, Inc. is tweaking how it pays its top brass, watch for impact on costs and leadership stability.**

AI Summary

Popular, Inc. filed an 8-K on January 22, 2024, reporting an event that occurred on January 17, 2024, related to changes in their executive compensation arrangements. This filing indicates that the company is making adjustments to how it compensates its officers, which could impact future financial performance and executive retention. For investors, understanding these changes is crucial as they can influence the company's operational costs and the stability of its leadership team.

Why It Matters

Changes in executive compensation can affect a company's financial health and its ability to attract and retain top talent, directly impacting shareholder value.

Risk Assessment

Risk Level: low — This filing is a routine disclosure about executive compensation arrangements, which typically carries a low direct risk unless specific details reveal excessive or problematic changes.

Analyst Insight

Investors should monitor future filings or press releases for specific details regarding the new compensatory arrangements to assess their financial impact and potential effects on executive motivation and retention.

Key Players & Entities

• POPULAR, INC. (company) — the registrant filing the 8-K
• January 17, 2024 (date) — date of the earliest event reported
• January 22, 2024 (date) — date the 8-K was filed

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock ($0.01 par value) BPOP The NASDAQ Stock Ma

Filing Documents

• d929172d8k.htm (8-K) — 24KB
• 0001193125-24-011958.txt ( ) — 174KB
• bpop-20240117.xsd (EX-101.SCH) — 4KB
• bpop-20240117_def.xml (EX-101.DEF) — 13KB
• bpop-20240117_lab.xml (EX-101.LAB) — 21KB
• bpop-20240117_pre.xml (EX-101.PRE) — 14KB
• d929172d8k_htm.xml (XML) — 5KB

From the Filing

Form 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 17, 2024 POPULAR, INC. (Exact name of registrant as specified in its charter) Puerto Rico 001-34084 66-0667416 (State or other jurisdiction of incorporation or organization) (Commission File Number) (IRS Employer Identification Number) 209 Muoz Rivera Avenue Hato Rey , Puerto Rico 00918 (Address of principal executive offices) (Zip code) (787) 765-9800 (Registrant's telephone number, including area code) NOT APPLICABLE (Former name, former address and former fiscal year, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock ($0.01 par value) BPOP The NASDAQ Stock Market 6.125% Cumulative Monthly Income Trust Preferred Securities BPOPM The NASDAQ Stock Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On January 17, 2024, Joaqun E. Bacard, III informed the Corporate Governance and Nominating Committee of the Board of Directors (the "Board") of Popular, Inc. (the "Corporation") of his decision not to stand for re-election to the Corporation's Board upon the expiration of his current term, which expires at the Corporation's 2024 Annual Meeting of Shareholders, scheduled for May 9, 2024. Mr. Bacard has served as a director of the Corporation and its two banking subsidiaries, Banco Popular de Puerto Rico and Popular Bank, since 2013. Mr. Bacard's decision not to stand for re-election did not result from any disagreement with the Corporation on any matter relating to the Corporation's operations, policies or practices. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. POPULAR, INC. (Registrant) Date: January 22, 2024 By: /s/ Jos R. Coleman Ti Jos R. Coleman Ti Executive Vice President and Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR