0001209191-23-020133.txt : 20230320
0001209191-23-020133.hdr.sgml : 20230320
20230320201101
ACCESSION NUMBER: 0001209191-23-020133
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230316
FILED AS OF DATE: 20230320
DATE AS OF CHANGE: 20230320
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Kafka Donald
CENTRAL INDEX KEY: 0001631334
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-14793
FILM NUMBER: 23747615
MAIL ADDRESS:
STREET 1: PO 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]
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
doc4.xml
FORM 4 SUBMISSION
X0407
4
2023-03-16
0
0001057706
FIRST BANCORP /PR/
FBP
0001631334
Kafka Donald
PO BOX 9146
SAN JUAN
PR
00908
PUERTO RICO
0
1
0
0
EVP and COO
0
First BanCorp Common Stock, par value $0.10 per share.
2023-03-16
4
A
0
11124
11.99
A
263999
D
First BanCorp Common Stock, par value $0.10 per share.
2023-03-18
4
M
0
33700
A
297699
D
First BanCorp Common Stock, par value $0.10 per share.
2023-03-18
4
F
0
12672
11.15
D
285027
D
First BanCorp Common Stock, par value $0.10 per share.
2023-03-18
4
F
0
6336
11.15
D
278691
D
Performance Share Unit
2023-03-16
4
A
0
11123
0.00
A
2026-03-16
Common Stock
11123
67490
D
Performance Share Unit
2023-03-18
4
A
0
33700
D
2023-03-18
Common Stock
33700
33790
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 16, 2025 and the remaining 50% vesting on year three or March 16, 2026.
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.
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 award made on March 18, 2020.
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.
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.
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.
The amount of 33,790 Performance Share Units were granted as a performance award with 12,211 shares granted on March 31, 2021, 10,456 shares granted on March 24, 2022, and 11,123 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.
/s/ Donald Kafka
2023-03-20