Popular, Inc. filed an 8-K on August 20, 2026, disclosing the compensation arrangements approved by its Talent and Compensation Committee on August 19, 2026, for Jorge J. García as incoming President and Chief Executive Officer and Lidio V. Soriano as incoming Executive Vice President and Chief Financial Officer, both effective September 1, 2026.

Key Highlights

  • CEO base salary: Jorge J. García was approved an annual base salary of $1,150,000, effective September 1, 2026.
  • CEO incentive targets: García's target short-term annual cash incentive is 135% of base salary and his target long-term equity incentive is 325% of base salary.
  • CEO promotion award: García received a one-time equity incentive award of $977,833 in the form of restricted stock, granted August 19, 2026, based on the prorated value of his new long-term equity incentive target for the four-month period in 2026 during which he will serve as CEO.
  • CFO base salary: Lidio V. Soriano was approved an annual base salary of $670,000, effective September 1, 2026.
  • CFO incentive targets: Soriano's target short-term annual cash incentive is 80% of base salary and his target long-term equity incentive is 120% of base salary.
  • Appointments announced earlier: Both appointments were announced on July 23, 2026, with an effective date of September 1, 2026.

Popular, Inc. Details Executive Compensation for Incoming Leadership Team

According to the filing, Popular, Inc. (NASDAQ:BPOP) disclosed that its Talent and Compensation Committee approved compensation terms for two executives on August 19, 2026. Jorge J. García, who was announced as incoming President and Chief Executive Officer on July 23, 2026, will receive an annual base salary of $1,150,000 beginning September 1, 2026. The filing states that in his new role, García will be eligible for a short-term annual cash incentive target of 135% of base salary and a long-term equity incentive target of 325% of base salary.

In addition, the Committee approved what the filing describes as a "one-time equity incentive award of $977,833" for García, calculated as the prorated value of his long-term equity incentive target for the four-month period in 2026 during which he will serve as CEO. The filing states this Promotion Award was granted on August 19, 2026 as restricted stock, with the number of shares determined using the closing price of the Corporation's common stock on that date. The filing notes the award follows the same terms and conditions as the 2026 restricted stock long-term equity incentive awards granted to García in February 2026, as set forth in the Corporation's 2026 Proxy Statement.

For Lidio V. Soriano, the incoming Executive Vice President and Chief Financial Officer, the Committee approved an annual base salary of $670,000, also effective September 1, 2026. According to the filing, Soriano's target short-term annual cash incentive is 80% of base salary and his target long-term equity incentive is 120% of base salary. The filing states that terms and conditions of Soriano's compensation are as set forth in the Corporation's 2026 Proxy Statement for named executive officers other than the President and Chief Executive Officer.

What Was Disclosed

Popular, Inc. reported Committee-approved compensation packages for its incoming CEO Jorge J. García and incoming CFO Lidio V. Soriano, including base salaries, incentive target percentages, and a one-time restricted stock promotion award for García, all effective September 1, 2026.