Alvarez-Cabrero Sara 4
4 · FIRST BANCORP /PR/ · Filed Mar 28, 2022
Insider Transaction Report
Form 4
Alvarez-Cabrero Sara
EVP, General Counsel
Transactions
- Award
Performance Share Unit
2022-03-24+9,528→ 9,528 totalExp: 2025-03-24→ Common Stock (9,528 underlying) - Award
First BanCorp Common Stock, par value $0.10 per share.
2022-03-24$13.15/sh+9,529$125,306→ 46,640 total
Footnotes (2)
- [F1]Shares of restricted stock issued pursuant to the First BanCorp Onmibus 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 24, 2024 and the remaining 50% vesting on year three or March 24, 2025.
- [F2]Performance Share Units granted as a performance award, vesting based upon degree of achievement of performance goal. Each Performance Share Units 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 100% for target-level performance, in FBP common stock free of restriction. Amounts between threshold and target 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.