RIVERA NAYDA 4

4 · FIRST BANCORP /PR/ · Filed Mar 23, 2026

AI-generated summary of this filing

Updated Mar 23, 2026

First BanCorp (FBP) EVP Nayda Rivera Receives Award

What Happened

Nayda Rivera, EVP, Chief Customer & Corporate Officer and Chief of Staff at First BanCorp (FBP), received equity awards on March 19, 2026: 13,576 restricted shares recorded at $20.59 each (total value $279,530) and 13,576 Performance Share Units (PSUs) recorded as a derivative award ($0.00 per-unit reporting).
On March 21, 2026, 2,661 shares were withheld (disposed) to cover taxes related to restricted stock that vested, at an average value of $20.57 per share (proceeds/withholding value $54,737).

Key Details

Transaction types: A = Award/Grant (restricted stock and PSUs); F = Tax withholding (shares disposed to cover taxes).
Dates and prices: March 19, 2026 — 13,576 restricted shares @ $20.59 (value $279,530) and 13,576 PSUs @ $0.00 (derivative); March 21, 2026 — 2,661 shares withheld @ $20.57 (value $54,737).
Vesting and conditions: Restricted shares vest solely by time over three years (50% on year two / March 19, 2028; remaining 50% on year three / March 19, 2029) (F1). PSUs are performance-based (payable 0–150% depending on performance; threshold = 50% payout up to 150% at maximum; interpolated between levels) (F3, F4). F4 notes 39,328 PSUs were granted as a multi-year performance award (13,576 of which were from the March 19, 2026 tranche).
Shares owned after transaction: Not specified in the provided filing excerpt.
Filing timeliness: Form 4 filed 2026-03-23 for transactions on 2026-03-19 and 2026-03-21; filing appears to be within the normal reporting window.

Context

The restricted shares are time-based awards (vest over set dates) — not an open-market purchase or sale indicating immediate bullish or bearish action.
The PSUs are contingent awards: they do not immediately transfer stock and will only convert to shares depending on future performance metrics.
The 2,661-share disposition was a routine tax withholding to satisfy tax obligations on vested restricted stock, which is common after vesting events.

Form 4

Period: 2026-03-19

EVP, CCO and Chief of Staff

Transactions

Award
First BanCorp Common Stock, par value $0.10 per share
[F1]
2026-03-19$20.59/sh+13,576$279,530→ 253,059 total
Tax Payment
First BanCorp Common Stock, par value $0.10 per share
[F2]
2026-03-21$20.57/sh−2,661$54,737→ 250,398 total
Award
Performance Share Unit
[F3][F4]
2026-03-19+13,576→ 39,328 total
Exp: 2029-03-19→ Common Stock (13,576 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 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.
[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 39,328 Performance Share Units were granted as a performance award with 12,564 shares granted on March 21, 2024, 13,188 shares granted on March 19, 2025, and 13,576 shares granted on March 19, 2026 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.

Signature

/s/ Adolfo Sepulveda, Es., Attorney-in-Fact|2026-03-23

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