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<TITLE>POPULAR, INC.</TITLE>
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<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
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<P align="center" style="font-size: 18pt"><B>Form&nbsp;S-8</B>


<P align="center" style="font-size: 10pt">REGISTRATION STATEMENT<BR>
Under<BR>
THE SECURITIES ACT OF 1933



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="35%" align="center">


<P align="center" style="font-size: 24pt"><B>POPULAR, INC.</B>



<P align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)

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<TR valign="bottom">
    <TD align="center" valign="top"><B>Puerto Rico</B><BR>
(State or other jurisdiction of<BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>66-0416582</B><BR>
(I.R.S. employer<BR>
identification no.)</TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top">209 Mu&#241;oz Rivera Avenue<BR>
Hato Rey, Puerto Rico<BR>
(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">00918<BR>
(Zip code)</TD>
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<P align="center" style="font-size: 10pt"><B>POPULAR, INC.<BR>
2004 OMNIBUS INCENTIVE PLAN</B><BR>
(Full title of the plan)



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="35%" align="center">



<P align="center" style="font-size: 10pt"><B>Jorge A. Junquera<BR>
Senior Executive Vice President<BR>
and Chief Financial Officer<BR>
209 Mu&#241;oz Rivera Avenue<BR>
San Juan, Puerto Rico 00918</B><BR>
(Name and address of agent for service)



<P align="center" style="font-size: 10pt"><B>(787)&nbsp;765-9800</B><BR>
(Telephone number, including area code, of agent for service)



<P align="center" style="font-size: 10pt"><HR size="1" noshade width="35%" align="center">



<P align="center" style="font-size: 10pt">Copies to:



<P align="center" style="font-size: 10pt"><B>Brunilda Santos de Alvarez<BR>
Executive Vice President and General Counsel<BR>
209 Mu&#241;oz Rivera Avenue<BR>
San Juan, Puerto Rico 00918</B>



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<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


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    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
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    <TD nowrap align="left"><B>Title of each Class</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
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    <TD nowrap align="left"><B>of Securities to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount to be</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering Price Per</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Aggregate Offering</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
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<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Registered(1)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Share(2)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Price(2)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registration Fee</B></TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Common Stock, par
value $6 per share,
together with
attached rights to
purchase Series&nbsp;A
Participating
Cumulative
Preferred Stock, no
par value
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">5,000,000 Shares
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">40.17</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">200,850,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">$</TD>
    <TD align="right" valign="bottom">25,448</TD>
    <TD nowrap valign="top">&nbsp;</TD>
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    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">The amount being registered also includes an indeterminate number of
shares of Common Stock which may be issuable as a result of stock splits,
stock dividends and antidilution provisions and other terms, in accordance
with Rule&nbsp;416 under the Securities Act.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="96%">Estimated solely for the purpose of calculating the registration fee.
Such estimate has been computed in accordance with Rule 457(h) based upon
the average of the high and low price of the Common Stock on the NASDAQ
National Market System on May&nbsp;10, 2004, namely $40.17.</TD>
</TR>

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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">PART II<BR> INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">POWER OF ATTORNEY</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="g89160exv4w4.txt">EX-4.4 POPULAR, INC. 2004 OMNIBUS INCENTIVE PLAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="g89160exv5.txt">EX-5 OPINION OF BRUNILDA SANTOS DE ALVAREZ, ESQ.</A></TD></TR>
<TR><TD colspan="9"><A HREF="g89160exv23w2.txt">EX-23.2 CONSENT OF INDEPENDENT ACCOUNTANTS</A></TD></TR>
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<P align="center" style="font-size: 10pt"><B>PART I</B>


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<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As permitted by Rule&nbsp;428 under the Securities Act of 1933, as amended (the
&#147;Securities Act&#148;), this Registration Statement omits the information specified
in Part&nbsp;I of Form S-8. The documents containing the information specified in
Part&nbsp;I will be delivered to the participants in the plan covered by this
Registration Statement as required by Rule&nbsp;428(b). Such documents are not
being filed with the Securities and Exchange Commission (the &#147;Commission&#148;) as
part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule&nbsp;424 under the Securities Act.


<P align="center" style="font-size: 10pt">&nbsp;
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<P align="center" style="font-size: 10pt"><B>PART II<BR>
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>



<P>
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    <TD width="1%"></TD>
    <TD width="99%"></TD>
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<TR valign="top">
    <TD nowrap><B>Item&nbsp;3.</B>&nbsp;</TD>
    <TD><B>INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Commission by Popular, Inc. (the
&#147;Company&#148;) are incorporated herein by reference:



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Company&#146;s Annual Report on Form 10-K for the fiscal year ended December
31, 2003 filed with the Commission on March&nbsp;15, 2004;



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Company&#146;s Quarterly Report on Form&nbsp;10 Q for the quarter ended
March&nbsp;31, 2004 filed with the Commission on May&nbsp;10, 2004; and



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Company&#146;s Current Reports on Form 8-K dated as of January&nbsp;16, 2004,
March&nbsp;19, 2004, April&nbsp;5, 2004, April&nbsp;14, 1004 and April&nbsp;28, 2004 filed pursuant
to Section&nbsp;13 of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;).


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Company pursuant to Sections&nbsp;13(a), 13(c), 14
and 15(d) of the Exchange Act, subsequent to the date of this Registration
Statement shall be deemed to be incorporated by reference in this Registration
Statement and to be a part hereof from the date of filing of such documents.
Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes
of this Registration Statement to the extent that a statement contained herein
or in any other subsequently filed document which also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.


<P>
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    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Item&nbsp;4.</B>&nbsp;</TD>
    <TD><B>DESCRIPTION OF SECURITIES</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable. The Company&#146;s Common Stock is registered under Section&nbsp;12
of the Exchange Act.


<P>
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    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Item&nbsp;5.</B>&nbsp;</TD>
    <TD><B>INTERESTS OF NAMED EXPERTS AND COUNSEL</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the shares of the Company to be issued in connection with
this Registration Statement will be passed upon for the Company by Brunilda
Santos de Alvarez, Esq., its Executive Vice President and General Counsel. As
of April&nbsp;30, 2004, Ms.&nbsp;Santos de Alvarez beneficially owned approximately 8,635
shares of Common Stock of the Company and is entitled to participate in the
Plan covered by this Registration Statement.


<P>
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<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Item&nbsp;6.</B>&nbsp;</TD>
    <TD><B>INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Article&nbsp;ELEVENTH of the Company&#146;s Restated
Certificate of Incorporation of provides the following:



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Company shall indemnify any person who was or is a party or
is threatened to be made a party to any threatened, pending or completed
action, suit or proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of the Company) by
reason of the fact that he is or was a director, officer, employee or
agent of the Company, or is or was serving at the
written request of the Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys&#146; fees), judgments, fines
and amounts paid in settlement actually and reasonably incurred by him in
connection with such action, suit or proceeding if he acted in good faith
and in a manner he reasonably believed to be in or not opposed to the best
interests of the Company, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="margin-left:3%; font-size: 10pt">was unlawful.
The termination of any action, suit or proceeding by judgment, order,
settlement, conviction, or upon a plea of nolo contendere or its
equivalent, shall not, of itself, create a presumption that the person did
not act in good faith and in a manner which he reasonably believed to be
in or not opposed to the best interests of the Company and, with respect
to any criminal action or proceeding, had reasonable cause to believe that
his conduct was unlawful.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)
The Company shall indemnify any person who was or is a party or
is threatened to be made a party to any threatened, pending or completed
action or suit by or in the right of the Company to procure a judgment in
its favor by reason of the fact that he is or was a director, officer,
employee or agent of the Company, or is or was serving at the written
request of the Company as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys&#146; fees) actually and
reasonably incurred by him in connection with the defense or settlement of
such action or suit if he acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best interests of the
Company, except that no indemnification shall be made in respect of any
claim, issue or matter as to which such person shall have been adjudged to
be liable for negligence or misconduct in the performance of his duty to
the Company unless and only to the extent that the court in which such
action or suit was brought shall determine upon application that, despite
the adjudication of liability but in view of all the circumstances of the
case, such person is fairly and reasonably entitled to indemnity for such
expenses which such court shall deem proper.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To the extent that a director, officer, employee or agent of the
Company has been successful on the merits or otherwise in defense of any
action, suit or proceeding referred to in paragraph 1 or 2 of this Article
ELEVENTH, or in defense of any claim, issue or matter therein, he shall be
indemnified against expenses (including attorneys&#146; fees) actually and
reasonably incurred by him in connection therewith.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Any indemnification under paragraph 1 or 2 of this Article
ELEVENTH (unless ordered by a court) shall be made by the Company only as
authorized in the specific case upon a determination that indemnification
of the director, officer, employee or agent is proper in the circumstances
because he has met the applicable standard of conduct set forth therein.
Such determination shall be made (a)&nbsp;by the Board of Directors by a
majority vote of a quorum consisting of directors who were not parties to
such action, suit or proceeding, or (b)&nbsp;if such a quorum is not
obtainable, or, even if obtainable, a quorum of disinterested directors so
directs, by independent legal counsel in a written opinion, or (c)&nbsp;by the
stockholders.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Expenses incurred in defending a civil or criminal action, suit
or proceeding may be paid by the Company in advance of the final
disposition of such action, suit or proceeding as authorized by the Board
of Directors in the specific case upon receipt of an undertaking by or on
behalf of the director, officer, employee or agent to repay such amount
unless it shall ultimately be determined that he is entitled to be
indemnified by the Company as authorized in this Article&nbsp;ELEVENTH.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) The indemnification provided by this Article&nbsp;ELEVENTH shall not
be deemed exclusive of any other rights to which those seeking
indemnification may be entitled under any statute, by-law, agreement, vote
of stockholders or disinterested directors or otherwise, both as to action
in his official capacity and as to action in another capacity while
holding such office, and shall continue as to a person who has ceased
to be a director, officer, employee or agent and shall inure to the
benefit of the heirs, executors and administrators of such a person.


<P align="center" style="font-size: 10pt">II-2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) By action of its Board of Directors, notwithstanding any interest
of the directors in the action, the Company may purchase and maintain
insurance, in such amounts as the Board of Directors deems appropriate, on
behalf of any person who is or was a director, officer, employee or agent
of the Company, or is or was serving at the written request of the
Company, as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against any
liability asserted against him and incurred by him in any such capacity,
or arising out of his status as such, whether or not the Company would
have the power or would be required to indemnify him against such
liability under the provisions of this Article&nbsp;ELEVENTH or of the General
Corporation Law of the Commonwealth of Puerto Rico or of any other state
of the United States or foreign country as may be applicable.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Article&nbsp;1.02(B)(6) of the Puerto Rico General Corporation Act (the
&#147;PR-GCA&#148;) provides that a corporation may include in its certificate of
incorporation a provision eliminating or limiting the personal liability of
members of its board of directors or governing body for breach of a director&#146;s
fiduciary duty of care. However, no such provision may eliminate or limit the
liability of a director for breaching his duty of loyalty, failing to act in
good faith, engaging in intentional misconduct or knowingly violating a law,
paying an unlawful dividend or approving an unlawful stock repurchase or
obtaining an improper personal benefit.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Article&nbsp;4.08 of the PR-GCA authorizes a Puerto Rico Corporation
authorizes a Puerto Rico corporation to indemnify its officers and directors
against liabilities arising out of pending or threatened actions, suits or
proceedings to which such officers and directors may be made parties by reason
of being officers or directors. Such rights of indemnification are not
exclusive of any other rights to which such officers or directors may be
entitled under any by-law, agreement, vote of stockholders or otherwise.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;The Company maintains a directors&#146; and officers&#146; liability insurance
policy.


<P>
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<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Item&nbsp;7.</B>&nbsp;</TD>
    <TD><B>EXEMPTION FROM REGISTRATION CLAIMED</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.


<P>
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<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Item&nbsp;8.</B>&nbsp;</TD>
    <TD><B>EXHIBITS</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Exhibits accompanying this Registration Statement are listed on the
accompanying Exhibit&nbsp;Index.


<P>
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<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap><B>Item&nbsp;9.</B>&nbsp;</TD>
    <TD><B>UNDERTAKINGS</B></TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;The undersigned registrant hereby undertakes:



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by section 10(a)(3) of the
Securities Act of 1933 (the &#147;Securities Act&#148;);



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) (ii)&nbsp;To reflect in the prospectus any facts or events arising after
the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in
this Registration Statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if


<P align="center" style="font-size: 10pt">II-3
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:6%; font-size: 10pt">the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high and of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
price represent no more than a 20&nbsp;percent change in the maximum aggregate
offering price set forth in the &#147;Calculation of Registration Fee&#148; table in
the effective Registration Statement; and



<P align="left" style="margin-left:6%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>provided, however,</I> that paragraphs (1)(i) and (1)(ii) do not apply if
the information required to be included in a post-effective amendment by
those paragraphs is contained in periodic reports filed with or furnished
to the Securities and Exchange Commission by the registrant pursuant to
section 13 or section 15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities
Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the
initial <I>bona
fide</I> offering thereof.



<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of the
offering.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
registrant&#146;s annual report pursuant to section 13(a) or section 15(d) of the
Exchange Act (and each filing of an employee benefit plan&#146;s annual report
pursuant to section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the
initial <I>bona
fide</I> offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person against
the registrant in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication
of such issue.


<P align="center" style="font-size: 10pt">II-4
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif"></DIV>
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The Registrant.</B> Pursuant to the requirements of the Securities Act of
1933, the Registrant certifies that it has reasonable grounds to believe that
it meets all of the requirements for filing on Form&nbsp;S-8 and has duly caused
this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of San Juan, Commonwealth of Puerto
Rico, on this 12<sup>th</sup> day of May, 2004.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">&nbsp;</TD>
    <TD colspan="3">POPULAR, INC.<BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000">By            /s/ Jorge A. Junquera
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD colspan="2">Jorge A. Junquera&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="2">Senior Executive Vice President
and<BR> Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.

<!-- link1 "POWER OF ATTORNEY" -->
<DIV align="left"><A NAME="004"></A></DIV>

<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>KNOW ALL MEN BY THESE PRESENTS, </B>that each person whose signature appears
below constitutes and appoints Richard L. Carrion, David H. Chafey, Jr., Jorge
A. Junquera and Brunilda Santos de Alvarez, and each of them individually, his
true and lawful attorneys-in-fact and agents, with full power and in any and
all capacities, to sign this Registration Statement and any and all amendments
(including post-effective amendments) to this Registration Statement, and to
file such Registration Statement and all such amendments or supplements, with
all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorneys-in-fact and
agents, and each of them, full power and authority to do and perform each and
every act and thing requisite or necessary to be done in and about the
premises, as fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorneys-in-fact and
agents or any of them, or their or his substitutes or substitute, may lawfully
do or cause to be done by virtue thereof.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="26%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Signature</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Richard L. Carri&#243;n&nbsp;<BR>
<HR size="1" noshade>
Richard L. Carri&#243;n</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman of the Board,<BR>
President and Chief Executive<BR>
Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Juan J. Berm&#250;dez&nbsp;<BR>
<HR size="1" noshade>
Juan J. Berm&#250;dez</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Jos&#233; B. Carri&#243;n, Jr.&nbsp;<BR>
<HR size="1" noshade>
Jos&#233; B. Carri&#243;n, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Mar&#237;a Luisa Ferr&#233;&nbsp;<BR>
<HR size="1" noshade>
Mar&#237;a Luisa Ferr&#233;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Manuel Morales, Jr.&nbsp;<BR>
<HR size="1" noshade>
Manuel Morales, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">II-5
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="26%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Signature</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Title</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Date</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Francisco M. Rexach, Jr. &nbsp;<BR>
<HR size="1" noshade>
Francisco M. Rexach, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>


<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Frederic V. Salerno&nbsp;<BR>
<HR size="1" noshade>
Frederic V. Salerno</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>


<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">&nbsp;<BR>
<HR size="1" noshade>
F&#233;lix J. Serrall&#233;s Nevares</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Jos&#233; R. Vizcarrondo&nbsp;<BR>
<HR size="1" noshade>
Jos&#233; R. Vizcarrondo</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Jorge A. Junquera&nbsp;<BR>
<HR size="1" noshade>
Jorge A. Junquera</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Senior Executive Vice President<BR>
and Chief Financial Officer<BR>
(Principal Financial Officer)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May 12, 2004</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Ileana Gonz&#225;lez&nbsp;<BR>
<HR size="1" noshade>
Ileana Gonz&#225;lez</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Senior Vice President<BR>
and Comptroller<BR>
(Principal Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;12,&nbsp;2004</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">II-6
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="005"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>&nbsp;</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Number</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description of Exhibits</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Restated Certificate of Incorporation of the Company,
incorporated by reference to Exhibit&nbsp;4(a) to the registrant&#146;s
Registration Statement on Form&nbsp;S-3 (Nos. 333-26941, 333-26941-01
and 333-26941-02) filed with the Securities and Exchange
Commission on May&nbsp;12, 1997.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By-laws of the Company, incorporated by reference to Exhibit
4.2 to the Company&#146;s Registration Statement on Form&nbsp;S-8 (No.
333-80169) filed with the Securities and Exchange Commission on
June&nbsp;8, 1999.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Specimen of Certificate of the registrant&#146;s Common Stock, par
value $6 per share, incorporated by reference to Exhibit&nbsp;4.1 to
the Company&#146;s Annual Report on Form&nbsp;10-K for the year ended
December&nbsp;31, 1998 (File No.&nbsp;000-13818).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Popular, Inc. 2004 Omnibus Incentive Plan.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Opinion of Brunilda Santos de Alvarez, Esq.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of Brunilda Santos de Alvarez, Esq., (Included in Exhibit&nbsp;5).</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">23.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consent of the Company&#146;s Independent Accountants.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Powers of Attorney (included on
pages II-5 through II-6).</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>




<P align="center" style="font-size: 10pt">II-7
</DIV>

</BODY>
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{"company-data": {"conformed-name": "POPULAR INC", "cik": "0000763901", "assigned-sic": "6022", "irs-number": "660416582", "state-of-incorporation": "PR", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-115482", "film-number": "04803905"}, "business-address": {"street1": "209 MUNOZ RIVERA AVE", "street2": "POPULAR CENTER BUILDING", "city": "HATO REY", "state": "PR", "zip": "00918", "phone": "7877659800"}, "mail-address": {"street1": "P.O. BOX 362708", "city": "SAN JUAN", "state": "PR", "zip": "00936-2708"}, "former-company": {"former-conformed-name": "BANPONCE CORP", "date-changed": "19920703"}}
POPULAR, INC.
Table of Contents
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
POPULAR, INC.
(Exact name of registrant as specified in its charter)
Puerto Rico
(State or other jurisdiction of
incorporation or organization)
66-0416582
(I.R.S. employer
identification no.)
209 Muñoz Rivera Avenue
Hato Rey, Puerto Rico
(Address of principal executive offices)
00918
(Zip code)
POPULAR, INC.
2004 OMNIBUS INCENTIVE PLAN
(Full title of the plan)
Jorge A. Junquera
Senior Executive Vice President
and Chief Financial Officer
209 Muñoz Rivera Avenue
San Juan, Puerto Rico 00918
(Name and address of agent for service)
(787) 765-9800
(Telephone number, including area code, of agent for service)
Copies to:
Brunilda Santos de Alvarez
Executive Vice President and General Counsel
209 Muñoz Rivera Avenue
San Juan, Puerto Rico 00918
CALCULATION OF REGISTRATION FEE
Title of each Class
Proposed Maximum
Proposed Maximum
of Securities to be
Amount to be
Offering Price Per
Aggregate Offering
Amount of
Registered
Registered(1)
Share(2)
Price(2)
Registration Fee
Common Stock, par
value $6 per share,
together with
attached rights to
purchase Series A
Participating
Cumulative
Preferred Stock, no
par value
5,000,000 Shares
$
40.17
$
200,850,000
$
25,448
(1)
The amount being registered also includes an indeterminate number of
shares of Common Stock which may be issuable as a result of stock splits,
stock dividends and antidilution provisions and other terms, in accordance
with Rule 416 under the Securities Act.
(2)
Estimated solely for the purpose of calculating the registration fee.
Such estimate has been computed in accordance with Rule 457(h) based upon
the average of the high and low price of the Common Stock on the NASDAQ
National Market System on May 10, 2004, namely $40.17.
TABLE OF CONTENTS
PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
SIGNATURES
POWER OF ATTORNEY
EXHIBIT INDEX
EX-4.4 POPULAR, INC. 2004 OMNIBUS INCENTIVE PLAN
EX-5 OPINION OF BRUNILDA SANTOS DE ALVAREZ, ESQ.
EX-23.2 CONSENT OF INDEPENDENT ACCOUNTANTS
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
As permitted by Rule 428 under the Securities Act of 1933, as amended (the
"Securities Act"), this Registration Statement omits the information specified
in Part I of Form S-8. The documents containing the information specified in
Part I will be delivered to the participants in the plan covered by this
Registration Statement as required by Rule 428(b). Such documents are not
being filed with the Securities and Exchange Commission (the "Commission") as
part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule 424 under the Securities Act.
Table of Contents
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE
The following documents filed with the Commission by Popular, Inc. (the
"Company") are incorporated herein by reference:
(1) The Company's Annual Report on Form 10-K for the fiscal year ended December
31, 2003 filed with the Commission on March 15, 2004;
(2) The Company's Quarterly Report on Form 10 Q for the quarter ended
March 31, 2004 filed with the Commission on May 10, 2004; and
(2) The Company's Current Reports on Form 8-K dated as of January 16, 2004,
March 19, 2004, April 5, 2004, April 14, 1004 and April 28, 2004 filed pursuant
to Section 13 of the Securities Exchange Act of 1934 (the "Exchange Act").
All documents filed by the Company pursuant to Sections 13(a), 13(c), 14
and 15(d) of the Exchange Act, subsequent to the date of this Registration
Statement shall be deemed to be incorporated by reference in this Registration
Statement and to be a part hereof from the date of filing of such documents.
Any statement contained in a document incorporated or deemed to be incorporated
by reference herein shall be deemed to be modified or superseded for purposes
of this Registration Statement to the extent that a statement contained herein
or in any other subsequently filed document which also is or is deemed to be
incorporated by reference herein modifies or supersedes such statement. Any
such statement so modified or superseded shall not be deemed, except as so
modified or superseded, to constitute a part of this Registration Statement.
Item 4.
DESCRIPTION OF SECURITIES
Not applicable. The Company's Common Stock is registered under Section 12
of the Exchange Act.
Item 5.
INTERESTS OF NAMED EXPERTS AND COUNSEL
The validity of the shares of the Company to be issued in connection with
this Registration Statement will be passed upon for the Company by Brunilda
Santos de Alvarez, Esq., its Executive Vice President and General Counsel. As
of April 30, 2004, Ms. Santos de Alvarez beneficially owned approximately 8,635
shares of Common Stock of the Company and is entitled to participate in the
Plan covered by this Registration Statement.
Item 6.
INDEMNIFICATION OF DIRECTORS AND OFFICERS
(a) Article ELEVENTH of the Company's Restated
Certificate of Incorporation of provides the following:
(1) The Company shall indemnify any person who was or is a party or
is threatened to be made a party to any threatened, pending or completed
action, suit or proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of the Company) by
reason of the fact that he is or was a director, officer, employee or
agent of the Company, or is or was serving at the
written request of the Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys' fees), judgments, fines
and amounts paid in settlement actually and reasonably incurred by him in
connection with such action, suit or proceeding if he acted in good faith
and in a manner he reasonably believed to be in or not opposed to the best
interests of the Company, and, with respect to any criminal action or
proceeding, had no reasonable cause to believe his conduct
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was unlawful.
The termination of any action, suit or proceeding by judgment, order,
settlement, conviction, or upon a plea of nolo contendere or its
equivalent, shall not, of itself, create a presumption that the person did
not act in good faith and in a manner which he reasonably believed to be
in or not opposed to the best interests of the Company and, with respect
to any criminal action or proceeding, had reasonable cause to believe that
his conduct was unlawful.
(2)
The Company shall indemnify any person who was or is a party or
is threatened to be made a party to any threatened, pending or completed
action or suit by or in the right of the Company to procure a judgment in
its favor by reason of the fact that he is or was a director, officer,
employee or agent of the Company, or is or was serving at the written
request of the Company as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys' fees) actually and
reasonably incurred by him in connection with the defense or settlement of
such action or suit if he acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best interests of the
Company, except that no indemnification shall be made in respect of any
claim, issue or matter as to which such person shall have been adjudged to
be liable for negligence or misconduct in the performance of his duty to
the Company unless and only to the extent that the court in which such
action or suit was brought shall determine upon application that, despite
the adjudication of liability but in view of all the circumstances of the
case, such person is fairly and reasonably entitled to indemnity for such
expenses which such court shall deem proper.
(3) To the extent that a director, officer, employee or agent of the
Company has been successful on the merits or otherwise in defense of any
action, suit or proceeding referred to in paragraph 1 or 2 of this Article
ELEVENTH, or in defense of any claim, issue or matter therein, he shall be
indemnified against expenses (including attorneys' fees) actually and
reasonably incurred by him in connection therewith.
(4) Any indemnification under paragraph 1 or 2 of this Article
ELEVENTH (unless ordered by a court) shall be made by the Company only as
authorized in the specific case upon a determination that indemnification
of the director, officer, employee or agent is proper in the circumstances
because he has met the applicable standard of conduct set forth therein.
Such determination shall be made (a) by the Board of Directors by a
majority vote of a quorum consisting of directors who were not parties to
such action, suit or proceeding, or (b) if such a quorum is not
obtainable, or, even if obtainable, a quorum of disinterested directors so
directs, by independent legal counsel in a written opinion, or (c) by the
stockholders.
(5) Expenses incurred in defending a civil or criminal action, suit
or proceeding may be paid by the Company in advance of the final
disposition of such action, suit or proceeding as authorized by the Board
of Directors in the specific case upon receipt of an undertaking by or on
behalf of the director, officer, employee or agent to repay such amount
unless it shall ultimately be determined that he is entitled to be
indemnified by the Company as authorized in this Article ELEVENTH.
(6) The indemnification provided by this Article ELEVENTH shall not
be deemed exclusive of any other rights to which those seeking
indemnification may be entitled under any statute, by-law, agreement, vote
of stockholders or disinterested directors or otherwise, both as to action
in his official capacity and as to action in another capacity while
holding such office, and shall continue as to a person who has ceased
to be a director, officer, employee or agent and shall inure to the
benefit of the heirs, executors and administrators of such a person.
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(7) By action of its Board of Directors, notwithstanding any interest
of the directors in the action, the Company may purchase and maintain
insurance, in such amounts as the Board of Directors deems appropriate, on
behalf of any person who is or was a director, officer, employee or agent
of the Company, or is or was serving at the written request of the
Company, as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust or other enterprise, against any
liability asserted against him and incurred by him in any such capacity,
or arising out of his status as such, whether or not the Company would
have the power or would be required to indemnify him against such
liability under the provisions of this Article ELEVENTH or of the General
Corporation Law of the Commonwealth of Puerto Rico or of any other state
of the United States or foreign country as may be applicable.
(b) Article 1.02(B)(6) of the Puerto Rico General Corporation Act (the
"PR-GCA") provides that a corporation may include in its certificate of
incorporation a provision eliminating or limiting the personal liability of
members of its board of directors or governing body for breach of a director's
fiduciary duty of care. However, no such provision may eliminate or limit the
liability of a director for breaching his duty of loyalty, failing to act in
good faith, engaging in intentional misconduct or knowingly violating a law,
paying an unlawful dividend or approving an unlawful stock repurchase or
obtaining an improper personal benefit.
(c) Article 4.08 of the PR-GCA authorizes a Puerto Rico Corporation
authorizes a Puerto Rico corporation to indemnify its officers and directors
against liabilities arising out of pending or threatened actions, suits or
proceedings to which such officers and directors may be made parties by reason
of being officers or directors. Such rights of indemnification are not
exclusive of any other rights to which such officers or directors may be
entitled under any by-law, agreement, vote of stockholders or otherwise.
(d) The Company maintains a directors' and officers' liability insurance
policy.
Item 7.
EXEMPTION FROM REGISTRATION CLAIMED
Not applicable.
Item 8.
EXHIBITS
The Exhibits accompanying this Registration Statement are listed on the
accompanying Exhibit Index.
Item 9.
UNDERTAKINGS
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by section 10(a)(3) of the
Securities Act of 1933 (the "Securities Act");
(ii) (ii) To reflect in the prospectus any facts or events arising after
the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in
this Registration Statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if
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the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high and of the estimated maximum offering range
may be reflected in the form of prospectus filed with the Commission
pursuant to Rule 424(b) if, in the aggregate, the changes in volume and
price represent no more than a 20 percent change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee" table in
the effective Registration Statement; and
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in this Registration Statement or any
material change to such information in this Registration Statement;
provided, however,
that paragraphs (1)(i) and (1)(ii) do not apply if
the information required to be included in a post-effective amendment by
those paragraphs is contained in periodic reports filed with or furnished
to the Securities and Exchange Commission by the registrant pursuant to
section 13 or section 15(d) of the Exchange Act that are incorporated by
reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the Securities
Act, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the
initial
bona
fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any of
the securities being registered which remain unsold at the termination of the
offering.
(b) The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
registrant's annual report pursuant to section 13(a) or section 15(d) of the
Exchange Act (and each filing of an employee benefit plan's annual report
pursuant to section 15(d) of the Exchange Act) that is incorporated by
reference in this Registration Statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the
initial
bona
fide
offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act
may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant of expenses incurred or paid by a director, officer or controlling
person of the registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person against
the registrant in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Securities Act and will be governed by the final adjudication
of such issue.
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SIGNATURES
The Registrant.
Pursuant to the requirements of the Securities Act of
1933, the Registrant certifies that it has reasonable grounds to believe that
it meets all of the requirements for filing on Form S-8 and has duly caused
this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of San Juan, Commonwealth of Puerto
Rico, on this 12
th
day of May, 2004.
POPULAR, INC.
(Registrant)
By            /s/ Jorge A. Junquera
Name:
Jorge A. Junquera
Title:
Senior Executive Vice President
and
Chief Financial Officer
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS,
that each person whose signature appears
below constitutes and appoints Richard L. Carrion, David H. Chafey, Jr., Jorge
A. Junquera and Brunilda Santos de Alvarez, and each of them individually, his
true and lawful attorneys-in-fact and agents, with full power and in any and
all capacities, to sign this Registration Statement and any and all amendments
(including post-effective amendments) to this Registration Statement, and to
file such Registration Statement and all such amendments or supplements, with
all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, granting unto said attorneys-in-fact and
agents, and each of them, full power and authority to do and perform each and
every act and thing requisite or necessary to be done in and about the
premises, as fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorneys-in-fact and
agents or any of them, or their or his substitutes or substitute, may lawfully
do or cause to be done by virtue thereof.
Signature
Title
Date
/s/ Richard L. Carrión
Richard L. Carrión
Chairman of the Board,
President and Chief Executive
Officer
May 12, 2004
/s/ Juan J. Bermúdez
Juan J. Bermúdez
Director
May 12, 2004
/s/ José B. Carrión, Jr.
José B. Carrión, Jr.
Director
May 12, 2004
/s/ María Luisa Ferré
María Luisa Ferré
Director
May 12, 2004
/s/ Manuel Morales, Jr.
Manuel Morales, Jr.
Director
May 12, 2004
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Signature
Title
Date
/s/ Francisco M. Rexach, Jr.
Francisco M. Rexach, Jr.
Director
May 12, 2004
/s/ Frederic V. Salerno
Frederic V. Salerno
Director
May 12, 2004
Félix J. Serrallés Nevares
Director
May 12, 2004
/s/ José R. Vizcarrondo
José R. Vizcarrondo
Director
May 12, 2004
/s/ Jorge A. Junquera
Jorge A. Junquera
Senior Executive Vice President
and Chief Financial Officer
(Principal Financial Officer)
May 12, 2004
/s/ Ileana González
Ileana González
Senior Vice President
and Comptroller
(Principal Accounting Officer)
May 12, 2004
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EXHIBIT INDEX
Exhibit
Number
Description of Exhibits
4.1
Restated Certificate of Incorporation of the Company,
incorporated by reference to Exhibit 4(a) to the registrant's
Registration Statement on Form S-3 (Nos. 333-26941, 333-26941-01
and 333-26941-02) filed with the Securities and Exchange
Commission on May 12, 1997.
4.2
By-laws of the Company, incorporated by reference to Exhibit
4.2 to the Company's Registration Statement on Form S-8 (No.
333-80169) filed with the Securities and Exchange Commission on
June 8, 1999.
4.3
Specimen of Certificate of the registrant's Common Stock, par
value $6 per share, incorporated by reference to Exhibit 4.1 to
the Company's Annual Report on Form 10-K for the year ended
December 31, 1998 (File No. 000-13818).
4.4
Popular, Inc. 2004 Omnibus Incentive Plan.
5
Opinion of Brunilda Santos de Alvarez, Esq.
23.1
Consent of Brunilda Santos de Alvarez, Esq., (Included in Exhibit 5).
23.2
Consent of the Company's Independent Accountants.
24
Powers of Attorney (included on
pages II-5 through II-6).
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