Berges Gonzalez Orlando 4

What Happened Orlando Berges Gonzalez, Executive Vice President and CFO of First BanCorp (FBP), received equity awards on March 19, 2026. The filing shows (1) a grant of 13,980 restricted shares at $20.59 each (value ≈ $287,848) and (2) a grant of 13,980 Performance Share Units (PSUs) (recorded as derivative units, $0 purchase price). Separately, on March 21, 2026, 2,479 shares were disposed/withheld to cover taxes related to restricted stock that vested, at $20.57 per share (≈ $50,993). The award (A) is an equity grant; the withholding (F) is a routine tax-related disposition.

Key Details

• Filing date: March 23, 2026; Reported transactions dated March 19, 2026 (grants) and March 21, 2026 (tax withholding).
• Grants: 13,980 restricted shares @ $20.59 = $287,848 (acquired); 13,980 PSUs (derivative, $0 recorded).
• Tax withholding: 2,479 shares withheld/ disposed @ $20.57 = $50,993 (code F).
• Vesting/profile notes: Restricted shares vest over three years (50% on March 19, 2028; remaining 50% on March 19, 2029) per the Omnibus Incentive Plan.
• Shares owned after the transactions: not specified in the provided excerpt—see the full Form 4 for total post-transaction holdings.
• Filing timeliness: Form 4 filed March 23, 2026 (no late filing flag indicated in this report).

Context

• The 13,980 PSUs are performance-based awards that convert to common shares only if performance goals are met; payout ranges from 50% at threshold up to 150% at maximum (interpolated between levels), with no payout below threshold.
• The 2,479-share disposition was a tax-withholding event tied to restricted stock that vested on March 21, 2026 and is a common administrative transaction, not an open-market sale.
• Transaction codes: A = award/grant; F = tax withholding/disposition. These awards are typical executive compensation events and do not, by themselves, signal a buy or sell conviction.