0000950170-24-036084.txt : 20240325 0000950170-24-036084.hdr.sgml : 20240325 20240325195956 ACCESSION NUMBER: 0000950170-24-036084 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240321 FILED AS OF DATE: 20240325 DATE AS OF CHANGE: 20240325 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: ALEMAN AURELIO CENTRAL INDEX KEY: 0001180593 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-14793 FILM NUMBER: 24780634 MAIL ADDRESS: STREET 1: P.O. BOX 9146 CITY: SAN JUAN STATE: PR ZIP: 00908-0146 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: FIRST BANCORP /PR/ CENTRAL INDEX KEY: 0001057706 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 660561882 STATE OF INCORPORATION: PR FISCAL YEAR END: 1231 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 4 1 ownership.xml 4 X0508 4 2024-03-21 0001057706 FIRST BANCORP /PR/ FBP 0001180593 ALEMAN AURELIO P.O. BOX 9146 SAN JUAN PR 00908-0146 PUERTO RICO true true false false President and CEO false First BanCorp Common Stock, par value $0.10 per share. 2024-03-21 4 A false 59942 17.35 A 1186267 D First BanCorp Common Stock, par value $0.10 per share. 2024-03-24 4 F false 11197 16.86 D 1175070 D Performance Share Unit 2024-03-21 4 A false 59942 0 A 2027-03-21 Common Stock 59942 236980 D 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 21, 2026 and the remaining 50% vesting on year three or March 21, 2027. Shares withheld to cover taxes related to the restricted stock that vested on March 24, 2024 pursuant to the terms of the long-term incentive award made on March 24, 2022. 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. Performance Share Units granted as a performance award, vesting based upon degree of achievement of performance goal. Each Performance Share Units 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. The amount of 236,980 Performance Share Units were granted as a performance award with 55,359 shares granted on March 31, 2021, 52,872 shares granted on March 24, 2022, 68,807 shares granted on March 16, 2023, and 59,942 shares granted on March 21, 2024, 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. /s/ Adolfo Sepulveda, Esq., Attorney-in-Fact 2024-03-25