Edgar Filing: CARRION RICHARD L

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

CARRION RICHARD L

2. Issuer Name and Ticker or Trading Symbol
POPULAR INC [BPOP]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
President & Chairman

(Last)

(First)

(Middle)

PO BOX 362708

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2009

(Street)

SAN JUAN, PR 00936-2708

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
8.25% Non-Cumulative Monthly Income Preferred Stock Series B	08/20/2009		D		4,000	D	⁽¹⁾	0	I	by wife
Common Stock Par Value $0.01 per share	08/20/2009		A		32,000	A	⁽¹⁾	34,077	I	By wife
Common Stock Par Value $0.01 per share	08/20/2009		A		57,248	A	⁽²⁾	1,811,520	I	Junior Investment ⁽³⁾
Preferred Stock, 2003 Series A	08/20/2009		D		7,156	D	⁽²⁾	0	I	Junior Investment ⁽³⁾
Common Stock Par Value $0.01 per share								1,450,943	D
Common Stock Par Value $0.01 per share								56,887	I	By children

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
CARRION RICHARD L PO BOX 362708 SAN JUAN, PR 00936-2708	X		President & Chairman

Signatures

Richard L. Carrion		09/02/2009
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The Reporting Person disposed 4,000 shares of 8.25% Non-cumulative Monthly Income Preferred Stock, Series B owned by wife in exchange for 32,000 shares of common stock, pursuant to the terms of the Issuer's Exchange Offer. The transactions reported in this Form 4 were approved by the Issuer's Board of Directors pursuant to Rule 16b-3(d) and Rule 16b-3(e).
(2)	The Reporting Person disposed 7,156 shares of Preferred Stock, 2003 Series A in exchange for 57,248 shares of common stock, pursuant to the terms of the Issuer's Exchange Offer. The transactions reported in this Form 4 were approved by the Issuer's Board of Directors pursuant to Rule 16b-3(d) and Rule 16b-3(e).
(3)	Ownership of 17.89% in Junior Investment Corporation, which owned 10,125,882 shares of Popular, Inc. at the end of August 20, 2009.

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