RIVERA NAYDA 4
4 · FIRST BANCORP /PR/ · Filed Mar 21, 2025
Insider Transaction Report
Form 4
RIVERA NAYDA
EVP, Chief Risk Officer
Transactions
- Award
First BanCorp Common Stock, par value $0.10 per share
2025-03-19$18.35/sh+13,188$242,000→ 245,600 total - Award
Performance Share Unit
2025-03-19+13,188→ 56,742 totalExp: 2028-03-19→ Common Stock (13,188 underlying)
Footnotes (3)
- [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 19, 2027, and the remaining 50% vesting on year three or March 19, 2028.
- [F2]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.
- [F3]The amount of 56,742 Performance Share Units were granted as a performance award with 12,642 shares granted on March 24, 2022, 18,348 shares granted on March 16, 2023, 12,564 shares granted on March 21, 2024, and 13,188 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.