POPULAR, INC. — Director's Dealing 2018

Jan 30, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POPULAR INC (BPOP)
CIK: 0000763901
Period of Report: 2018-01-26

Reporting Person: CARRION RICHARD L (Director, Executive Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-01-26	Restricted Stock Units	$0.00	A	10429	Acquired		Common Stock Par Value $0.01 per share (10429)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock Par Value $0.01 per share	365802.817	Direct
Common Stock Par Value $0.01 per share	23	Indirect
Common Stock Par Value $0.01 per share	3408	Indirect
Common Stock Par Value $0.01 per share	81955	Indirect

Footnotes

F1: Includes 6,856.497 shares acquired since Mr. Carrion's last Form 4, pursuant to reinvestment of dividends paid by the Corporation in transactions exempt from Section 16 of the Securities Exchange Act.

F2: Shares held by the estate of Mr. Carrion's deceased spouse.

F3: Represents Mr. Carrion's indirect ownership in the shares of the Corporation owned by Junior Investment Corporation in which he has approximately 16.99% interest.

F4: Reflects performance-based vesting of performance share units granted to the reporting person on February 27, 2015 and accrued dividend equivalents thereunder converted into restricted stock units ("RSUs"), in each case, subject to continued time-based vesting conditions.

F5: The underlying RSUs remain subject to continued time-based vesting conditions through February 27, 2018. Upon vesting, restricted stock units are converted into an equivalent number of shares of Common Stock that are distributed to the reporting person.