0001209191-22-020625.txt : 20220322
0001209191-22-020625.hdr.sgml : 20220322
20220322190824
ACCESSION NUMBER: 0001209191-22-020625
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220318
FILED AS OF DATE: 20220322
DATE AS OF CHANGE: 20220322
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: PANCHAM CASSAN
CENTRAL INDEX KEY: 0001252709
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-14793
FILM NUMBER: 22761159
MAIL ADDRESS:
STREET 1: P O BOX 9146
CITY: SAN JUAN
STATE: PR
ZIP: 00908
ISSUER:
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
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
doc4.xml
FORM 4 SUBMISSION
X0306
4
2022-03-18
0
0001057706
FIRST BANCORP /PR/
FBP
0001252709
PANCHAM CASSAN
P.O. BOX 9146
SAN JUAN
PR
00908-0146
PUERTO RICO
0
1
0
0
EVP
First BanCorp Common Stock, par value $0.10 per share.
2022-03-18
4
F
0
3410
13.43
D
233309
D
First BanCorp Common Stock, par value $0.10 per share.
2022-03-21
4
F
0
1062
13.45
D
232247
D
First BanCorp Common Stock, par value $0.10 per share.
2022-03-21
4
F
0
3184
13.45
D
229063
D
First BanCorp Common Stock, par value $0.10 per share.
2022-03-21
4
M
0
12460
A
241523
D
Performance Share Unit
2022-03-21
4
M
0
12460
D
2022-03-21
Common Stock
12460
37681
D
Shares withheld to cover taxes related to a restricted stock that vested on March 18, 2022 pursuant to the terms of the restricted stock award made on March 18, 2020.
Shares withheld to cover taxes related to a restricted stock that vested on March 21, 2022 pursuant to the terms of the restricted stock award made on March 21, 2019.
Shares withheld to cover taxes related to the performance share units granted in a restricted stock that vested on March 21, 2022, pursuant to the terms of the long-term incentive award made on March 21, 2019.
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 100% for target level performance, in FBP common stock free of restriction. Amounts between threshold and target 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 shares that vested based in the achievement of the performance goal at a level resulting in 100% of target, pursuant to a grant of performance shares award made on March 21, 2019.
The amount of 37,681 performance share units were granted as a performance award, with 26,691 shares granted on March 18, 2020 and 10,990 shares granted on March 31, 2021, and vest based upon the degree of achievement of performance goals. Each performance right represents a contingent right to receive one share of FBP common stock.
/s/Cassan Pancham
2022-03-22