Popular Shareholders Approve Corporate Charter Amendments
Popular, Inc. shareholders approved significant amendments to the company's Restated Certificate of Incorporation at the Annual Meeting on May 8, 2026. These changes include modernizing indemnification provisions and adding director and officer exculpation to the fullest extent permitted by Puerto Rico law. Additionally, the company's Amended and Restated By-Laws were adopted to align with these indemnification changes. Shareholders also elected eleven directors and approved executive compensation on an advisory basis.
Key Highlights
- Shareholders approved amendments to Popular's Restated Certificate of Incorporation.
- Amendments modernize indemnification provisions for directors and officers.
- New provision added for director and officer exculpation under Puerto Rico law.
- Old director election procedures removed as the Board became fully declassified in 2023.
- Amended and Restated By-Laws became effective, aligning with the indemnification changes.
- All eleven nominated directors were elected for a one-year term.
- Executive compensation was approved on an advisory basis by shareholders.
Price Impact
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