POPULAR, INC. — Director's Dealing 2020

Jul 6, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POPULAR INC (BPOP)
CIK: 0000763901
Period of Report: 2020-07-01

Reporting Person: CARRION RICHARD L (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-07-01	Restricted Stock Units	$	A	61	Acquired		Common Stock Par Value $0.01 per share (61)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock Par Value $0.01 per share	219952	Direct
Common Stock Par Value $0.01 per share	73694	Indirect
Common Stock Par Value $0.01 per share	211.199	Indirect

Footnotes

F1: Represents Mr. Carrion's indirect ownership in the shares of the Corporation owned by Junior Investment Corporation in which he has approximately 20.4729% interest.

F2: Includes 2.058 shares acquired pursuant to reinvestment of dividends paid by the Corporation in transactions exempt from Section 16 of the Securities Exchange Act.

F3: The reporting person no longer has a reportable beneficial interest in 3,222 shares of Popular, Inc. common stock owned by his son and included in the reporting person's prior ownership reports.

F4: Shares held by the estate of Mr. Carrion's deceased spouse.

F5: Restricted stock units convert into common stock on a one-for-one basis.

F6: Reflects Restricted Stock Units (RSUs") received by the reporting person as a result of dividend equivalents accrued with respect to outstanding RSUs granted to the reporting person. Dividend equivalents are accrued at the same rate and at the same time as dividends are paid to ordinary shareholders. Dividend equivalents on RSUs are subject to the same terms and conditions as the underlying RSUs.

F7: Restricted stock units are converted into an equivalent number of shares of common stock and issued to the reporting person on the 15th of August following the date of termination of service as a director.