POPULAR, INC.
For the period ended May 8, 2026. Filed Mar 24, 2026.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 8, 2026 · Filed Mar 24, 2026
Contents
Executive Compensation Program Changes for 2026
In February 2026, the Committee approved the following changes to the Executive Compensation Program covering the Corporation’s NEOs to improve their competitive market positioning and motivate and reward high levels of performance while further aligning the interests of our executives and our shareholders. The changes also reflected competitive practices among Popular’s peers.
Base Salary:
| • | The base salary of Mr. Ferrer increased by approximately 14% to $1,200,000. |
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| • | The base salary of Mr. García increased by approximately 10% to $670,000. |
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Long-term incentives:
| • | The target equity incentive opportunity for Mr. Ferrer increased from 300% to 325%. |
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| • | The target equity incentive opportunity for Messrs. García and Soriano and Ms. Burckhart were increased from 100% to 120%, and for Mr. Chinea from 90% to 100%. |
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60 | 2026 POPULAR, INC. PROXY STATEMENT
These revised target opportunities will continue to be offered according to the existing program’s term, with target based one-half on performance shares and one-half on time-vested restricted stock. These revised targets were effective for the February 2026 equity grants.
Short-term incentives:
| • | For the corporate financial goals (net income and ROTCE), commencing with the 2026 performance year, above-target performance will be compensated using an accelerated payout scale. At maximum or “stretch” performance (120% of the goal), the maximum incentive payout would be 2 times the executive’s target award. Previously, maximum performance of 115% corresponded to 1.5 times the target award. The incentive for below-target performance remains unchanged. |
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