UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 22, 2022, the Talent and Compensation Committee of the Board of Directors of Popular, Inc. (the “Corporation”), as part of its annual review of executive compensation, approved the following compensation adjustments for Ignacio Alvarez, President and Chief Executive Officer of the Corporation, effective February 22, 2022: (i) annual base salary of $1,130,000, (ii) a target opportunity under the short-term annual cash incentive of 135% of base salary and (iii) a target opportunity under the long-term equity incentive of 270% of base salary. The terms and conditions of the short-term annual cash incentive and long-term equity incentive, as well as all other components of Mr. Alvarez’s compensation under the Corporation’s compensation plans and programs, are as set forth on the Corporation’s 2021 Annual Proxy Statement.
Item 9.01. Financial Statements and Exhibits.
| 101 | Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language). | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). | |
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: February 23, 2022 | By: | /s/ José R. Coleman Tió | ||||
| José R. Coleman Tió | ||||||
| Executive Vice President and Chief Legal Officer | ||||||