-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VluLjftDACi8ob3la2oHKyJ0c0GbHOh0C8xNtKD1ld4RTjXj5Xe4PCHnrpioQNlj loUv6qPsRnkVVOVzkJAmzw== 0000950144-08-003077.txt : 20080423 0000950144-08-003077.hdr.sgml : 20080423 20080423170005 ACCESSION NUMBER: 0000950144-08-003077 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080423 DATE AS OF CHANGE: 20080423 EFFECTIVENESS DATE: 20080423 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST BANCORP /PR/ CENTRAL INDEX KEY: 0001057706 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 660561882 STATE OF INCORPORATION: PR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-14793 FILM NUMBER: 08772297 BUSINESS ADDRESS: STREET 1: 1519 PONCE DE LEON AVE STREET 2: SANTURCE CITY: SAN JUAN STATE: PR ZIP: 00908-0146 BUSINESS PHONE: 7877298200 MAIL ADDRESS: STREET 1: 1519 PONCE DE LEON AVE STREET 2: PO BOX 9146 CITY: SAN JUAN STATE: PR ZIP: 00908-0146 DEFA14A 1 g12915defa14a.htm FIRST BANCROP. FIRST BANCORP.
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No.  )
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FIRST BANCORP.
 
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April 23, 2008
  
Edward Gehl
Investment Proxy Research
Fidelity Investments
One Spartan Way TS1E
Merrimack, NH 03054
Dear Edward:
The purpose of this letter is to confirm that the management of First BanCorp has agreed to recommend that its Board of Directors adopt an amendment to the proposed First BanCorp’s 2008 Omnibus Incentive Plan to incorporate the change outlined below. It would be our recommendation that this amendment take effect immediately upon approval of First BanCorp’s 2008 Omnibus Incentive Plan at the April 29, 2008 stockholders meeting.
    If awards are accelerated for reasons other than death, disability, retirement, or change in control, those discretionarily accelerated shares will be limited to 10% of the total number of shares authorized under the plan.
We understand that with the adoption of the aforementioned amendment to our proposed 2008 Omnibus Incentive Plan, the plan will then comply with Fidelity’s proxy voting guidelines.
Sincerely yours,
/s/ Lawrence Odell
 
Lawrence Odell
EVP, General Counsel and Secretary of the Board
First BanCorp

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