4//SEC Filing
PANCHAM CASSAN 4
Accession 0001209191-23-020139
CIK 0001057706other
Filed
Mar 19, 8:00 PM ET
Accepted
Mar 20, 8:15 PM ET
Size
20.6 KB
Accession
0001209191-23-020139
Insider Transaction Report
Form 4
PANCHAM CASSAN
Executive Vice President
Transactions
- Award
First BanCorp Common Stock, par value $0.10 per share.
2023-03-16$11.99/sh−12,479$149,623→ 263,413 total - Exercise/Conversion
Performance Share Unit
2023-03-18−26,691→ 32,879 totalExp: 2023-03-18→ Common Stock (26,691 underlying) - Tax Payment
First BanCorp Common Stock, par value $0.10 per share.
2023-03-18$11.15/sh−6,857$76,456→ 283,247 total - Tax Payment
First BanCorp Common Stock, par value $0.10 per share.
2023-03-18$11.15/sh−3,429$38,233→ 279,818 total - Award
Performance Share Unit
2023-03-16+12,479→ 59,570 totalExp: 2026-03-16→ Common Stock (12,479 underlying) - Exercise/Conversion
First BanCorp Common Stock, par value $0.10 per share.
2023-03-18+26,691→ 290,104 total
Footnotes (7)
- [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]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.
- [F3]Performance Share Units that vested based on the achievement of the performance goal at a level resulting in 100% of target, pursuant to a grant of Performance Share Units awarded on March 18, 2020.
- [F4]Shares withheld to cover taxes related to the Performance Share Units that vested on March 18, 2023 pursuant to the terms of the long-term incentive award made on March 18, 2020.
- [F5]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.
- [F6]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.
- [F7]The amount of 32,879 Performance Share Units were granted as a performance award with 10,990 shares granted on March 31, 2021, 9,410 shares granted on March 24, 2022, and 12,479 shares granted on March 16, 2023, 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.
Issuer
FIRST BANCORP /PR/
CIK 0001057706
Entity typeother
Related Parties
1- filerCIK 0001252709
Filing Metadata
- Form type
- 4
- Filed
- Mar 19, 8:00 PM ET
- Accepted
- Mar 20, 8:15 PM ET
- Size
- 20.6 KB