Aurelio Aleman - Mar 19, 2025 Form 4 Insider Report for FIRST BANCORP /PR/ (FBP)

Role: President and CEO, Director
Signature: /s/ Adolfo Sepulveda, Esq., Attorney-in-Fact
Stock symbol: FBP
Transactions as of: Mar 19, 2025
Transactions value $: $1,080,008
Form type: 4
Date filed: 3/21/2025, 04:00 PM
Previous filing: Mar 18, 2025
Next filing: Mar 26, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FBP	First BanCorp Common Stock, par value $0.10 per share	Award	$1.08M	+58.9K	+5.77%	$18.35	1.08M	Mar 19, 2025	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FBP	Performance Share Unit	Award	$0	+58.9K	+32.41%	$0.00	240K	Mar 19, 2025	Common Stock	58.9K		Direct	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares of restricted stock issued pursuant to the First BanCorp Omnibus Incentive Plan, as amended. The shares shall fully vest solely on the basis of the passage of time over a three-year period, with 50% vesting on year two or March 19, 2027, and the remaining 50% vesting on year three or March 19, 2028.
F2	Performance Share Units granted as a performance award, vesting based upon degree of achievement of performance goal. Each Performance Share Unit represents a contingent right to receive one share of FBP common stock. At the end of the performance period, 50% of the award is paid for threshold-level performance up to 150% for maximum level performance, in FBP common stock free of restriction. Amounts between threshold, target, and maximum level performance are interpolated to reward incremental achievement and no amounts are paid if actual results of the performance goal are below threshold-level performance.
F3	The amount of 240,476 Performance Share Units were granted as a performance award with 52,872 shares granted on March 24, 2022, 68,807 shares granted on March 16, 2023, 59,942 shares granted on March 21, 2024, and 58,855 shares granted on March 19, 2025, and vest upon the degree of achievement of performance goals. Each Performance Share Unit represents a contingent right to receive one share of FBP common stock.