4//SEC Filing
Alvarez-Cabrero Sara 4
Accession 0001209191-23-020128
CIK 0001057706other
Filed
Mar 19, 8:00 PM ET
Accepted
Mar 20, 8:08 PM ET
Size
13.9 KB
Accession
0001209191-23-020128
Insider Transaction Report
Form 4
Alvarez-Cabrero Sara
EVP, General Counsel
Transactions
- Award
Performance Share Unit
2023-03-16+12,026→ 21,554 totalExp: 2026-03-16→ Common Stock (12,026 underlying) - Tax Payment
First BanCorp Common Stock, par value $0.10 per share.
2023-03-18$11.15/sh−2,871$32,012→ 55,796 total - Award
First BanCorp Common Stock, par value $0.10 per share.
2023-03-16$11.99/sh+12,027$144,204→ 58,667 total
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 16, 2025 and the remaining 50% vesting on year three or March 16, 2026.
- [F2]Shares withheld to cover taxes related to a restricted stock that vested on March 18, 2023 pursuant to the terms of the restricted stock award made on March 18, 2020.
- [F3]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 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 21,554 Performance Share Units were granted as a performance award with 9,528 shares granted on March 24, 2022, and 12,026 shares granted on March 16, 2023, and vest upon the degree of achievement of performance goals. Each Performance Shares Unit represents a contingent right to receive one share of FBP common stock.
Issuer
FIRST BANCORP /PR/
CIK 0001057706
Entity typeother
Related Parties
1- filerCIK 0001860032
Filing Metadata
- Form type
- 4
- Filed
- Mar 19, 8:00 PM ET
- Accepted
- Mar 20, 8:08 PM ET
- Size
- 13.9 KB