0000950170-25-043164.txt : 20250321 0000950170-25-043164.hdr.sgml : 20250321 20250321160007 ACCESSION NUMBER: 0000950170-25-043164 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20250319 FILED AS OF DATE: 20250321 DATE AS OF CHANGE: 20250321 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Power Carlos CENTRAL INDEX KEY: 0001578141 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-14793 FILM NUMBER: 25760358 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 2025-03-19 0001057706 FIRST BANCORP /PR/ FBP 0001578141 Power Carlos P.O. BOX 9146 SAN JUAN PR 00908-0146 PUERTO RICO false true false false EVP false First BanCorp Common Stock, par value $0.10 per share 2025-03-19 4 A false 8644 18.35 A 182571 D Performance Share Unit 2025-03-19 4 A false 8644 0 A 2028-03-19 Common Stock 8644 42246 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 19, 2027, and the remaining 50% vesting on year three or March 19, 2028. 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. The amount of 42,246 Performance Share Units were granted as a performance award with 10,646 shares granted on March 24, 2022, 13,425 shares granted on March 16, 2023, 9,531 shares granted on March 21, 2024, and 8,644 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. /s/ Adolfo Sepulveda, Es., Attorney-in-Fact 2025-03-21