Popular, Inc 8-K, filed Dec 10, 2021
Popular, Inc. (BPOP)
About this 8-K
Popular, Inc filed this 8-K on December 10, 2021, reporting on events of December 9, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 December 9, 2021, the Talent and Compensation Committee (the “Committee”) of the Board of Directors of Popular, Inc. (the “Corporation”) approved the following compensation adjustments for Javier D. Ferrer, effective December 27, 2021 in connection with Mr. Ferrer’s promotion to Executive Vice President, Chief Operating Officer and Head of Business Strategy of the Corporation: (i) annual base salary of $750,000, (ii) a target opportunity under the short-term annual cash incentive of 80% of base salary and (iii) a target opportunity under the long-term equity incentive of 100% 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. Ferrer’s compensation under the Corporation’s compensation plans and programs, are as set forth on the Corporation’s 2021 Annual Meeting 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: December 10, 2021 | By: | /s/ Ignacio Alvarez | ||||
| Ignacio Alvarez | ||||||
| President and Chief Executive Officer | ||||||