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FIRST BANCORP /PR/·4

Mar 23, 6:30 PM ET

Ortiz Said 4

Research Summary

AI-generated summary

Updated

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.