Ortiz Said 4
4 · FIRST BANCORP /PR/ · Filed Mar 23, 2026
Research Summary
AI-generated summary of this filing
First BanCorp (FBP) Chief Accounting Officer Ortiz Said Receives Award
What Happened
- Ortiz Said, First BanCorp’s Chief Accounting Officer, was granted 9,471 restricted shares on March 19, 2026 at a reported fair value of $20.59 per share (total value $195,008). Separately, 1,436 shares were withheld on March 21, 2026 to satisfy tax withholding related to restricted stock that vested (withhold value $29,539).
Key Details
- Transaction types: A = Award/Grant (9,471 shares @ $20.59 on 2026-03-19); F = Tax withholding (1,436 shares @ $20.57 on 2026-03-21).
- Filing: Form 4 filed 2026-03-23 (appears timely given transaction dates).
- Shares owned after transaction: not specified in the filing.
- Footnotes:
- F1: The 9,471 shares are restricted stock under the First BanCorp Omnibus Incentive Plan and vest solely by time over three years (50% on ~March 19, 2028; remaining 50% on ~March 19, 2029).
- F2: The 1,436 shares were withheld to cover taxes on restricted stock that vested March 21, 2026 from an award made March 21, 2024.
Context
- This was a restricted stock grant (acquisition) — a common executive compensation event rather than an open-market purchase. The tax-withholding disposal is routine when awards vest and does not necessarily indicate selling for investment reasons.
Insider Transaction Report
Form 4
Ortiz Said
Chief Accounting Officer
Transactions
- Award
First BanCorp Common Stock, par value $0.10 per share
[F1]2026-03-19$20.59/sh+9,471$195,008→ 49,638.489 total - Tax Payment
First BanCorp Common Stock, par value $0.10 per share
[F2]2026-03-21$20.57/sh−1,436$29,539→ 48,202.489 total
Footnotes (2)
- [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, 2028, and the remaining 50% vesting on year three or March 19, 2029.
- [F2]Shares withheld to cover taxes related to restricted stock that vested on March 21, 2026 pursuant to the terms of the restricted stock award made on March 21, 2024.
Signature
/s/ Adolfo Sepulveda, Es., Attorney-in-Fact|2026-03-23