0000950170-24-036104.txt : 20240325
0000950170-24-036104.hdr.sgml : 20240325
20240325201106
ACCESSION NUMBER: 0000950170-24-036104
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20240321
FILED AS OF DATE: 20240325
DATE AS OF CHANGE: 20240325
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: PANCHAM CASSAN
CENTRAL INDEX KEY: 0001252709
ORGANIZATION NAME:
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-14793
FILM NUMBER: 24780651
MAIL ADDRESS:
STREET 1: P O BOX 9146
CITY: SAN JUAN
STATE: PR
ZIP: 00908
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: FIRST BANCORP /PR/
CENTRAL INDEX KEY: 0001057706
STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]
ORGANIZATION NAME: 02 Finance
IRS NUMBER: 660561882
STATE OF INCORPORATION: PR
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1519 PONCE DE LEON AVE
STREET 2: SANTURCE
CITY: SAN JUAN
STATE: PR
ZIP: 00908-0146
BUSINESS PHONE: 7877298200
MAIL ADDRESS:
STREET 1: 1519 PONCE DE LEON AVE
STREET 2: PO BOX 9146
CITY: SAN JUAN
STATE: PR
ZIP: 00908-0146
4
1
ownership.xml
4
X0508
4
2024-03-21
0001057706
FIRST BANCORP /PR/
FBP
0001252709
PANCHAM CASSAN
P.O. BOX 9146
SAN JUAN
PR
00908-0146
PUERTO RICO
false
true
false
false
EVP
false
First BanCorp Common Stock, par value $0.10 per share.
2024-03-21
4
A
false
8624
17.35
A
287062
D
First BanCorp Common Stock, par value $0.10 per share.
2024-03-24
4
F
false
1182
16.86
D
285880
D
Performance Share Unit
2024-03-21
4
A
false
8623
0
A
2027-03-21
Common Stock
8623
41502
D
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 21, 2026 and the remaining 50% vesting on year three or March 21, 2027.
Shares withheld to cover taxes related to the restricted stock that vested on March 24, 2024 pursuant to the terms of the long-term incentive award made on March 24, 2022.
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.
The amount of 41,502 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, 12,479 shares granted on March 16, 2023, and 8,623 shares granted on March 21, 2024, 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.
/s/ Adolfo Sepulveda, Esq., Attorney-in-Fact
2024-03-25