POPULAR, INC. — Director's Dealing 2015

May 1, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POPULAR INC (BPOP)
CIK: 0000763901
Period of Report: 2015-04-29

Reporting Person: ALVAREZ IGNACIO (PRESIDENT & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-29	Common Stock Par Value $0.01 per share	A	16070	$0.00	Acquired	67141	Direct

Footnotes

F1: Award of restricted stock pursuant to Popular, Inc.'s 2004 Omnibus Incentive Plan. The dollar value of the award was approved on February 27, 2015. The number of shares subject to the award was determined based on the closing price of Popular, Inc.'s common stock on April 29, 2015. Eighty percent (80%) of the award vests in equal annual installments on each of the first four (4) anniversaries of the approval date, and twenty percent (20%) of the award vests upon termination of the executive's employment after attaining (x) age 55 with 10 years of service or (y) age 60 with 5 years of service.

F2: Includes 13,508 shares that were held by the Reporting Person and his deceased spouse as community property, and to which the Reporting Person has an undivided interest pending liquidation of the conjugal partnership and estate of the deceased spouse.