4//SEC Filing
Berges Gonzalez Orlando 4
Accession 0000950170-24-036088
CIK 0001057706other
Filed
Mar 24, 8:00 PM ET
Accepted
Mar 25, 8:03 PM ET
Size
9.7 KB
Accession
0000950170-24-036088
Insider Transaction Report
Form 4
Berges Gonzalez Orlando
EVP & Chief Financial Officer
Transactions
- Award
First BanCorp Common Stock, par value $0.10 per share.
2024-03-21$17.35/sh+15,562$270,001→ 348,304 total - Tax Payment
First BanCorp Common Stock, par value $0.10 per share.
2024-03-24$16.86/sh−2,544$42,892→ 345,760 total - Award
Performance Share Unit
2024-03-21+15,561→ 66,262 totalExp: 2027-03-21→ Common Stock (15,561 underlying)
Footnotes (4)
- [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 21, 2026 and the remaining 50% vesting on year three or March 21, 2027.
- [F2]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.
- [F3]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.
- [F4]The amount of 66,262 Performance Share Units were granted as a performance award with 11,989 shares granted on March 31, 2021, 15,969 shares granted on March 24, 2022, 22,743 shares granted on March 16, 2023, and 15,561 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.
Documents
Issuer
FIRST BANCORP /PR/
CIK 0001057706
Entity typeother
Related Parties
1- filerCIK 0001464458
Filing Metadata
- Form type
- 4
- Filed
- Mar 24, 8:00 PM ET
- Accepted
- Mar 25, 8:03 PM ET
- Size
- 9.7 KB