[144] First BanCorp. SEC Filing

Rhea-AI Filing Summary

First BanCorp (FBP) reports a Rule 144 notice proposing the sale of 10,000 shares of its common stock through Merrill Lynch on the NYSE, with an aggregate market value of $211,000. The filing shows the 10,000 shares were acquired as restricted stock awards issued as compensation in multiple grants between 2017 and 2022, and the holdings to be sold equal the sum of those grants. The filing lists the company’s outstanding shares as 160,469,644, making the proposed sale a very small fraction of total shares. The filer certifies they are not aware of any undisclosed material adverse information about the issuer.

Positive

• Compliance with Rule 144 disclosed, showing transparency about proposed insider sale
• Securities originated from restricted compensation grants, indicating the sale is converting vested compensation to cash rather than a gift or transfer

Negative

• None.

Insights

Financial Analyst

TL;DR: Proposed sale of 10,000 FBP shares (~0.006% of outstanding) is immaterial to capitalization and likely routine insider liquidity.

The filing notifies a planned Rule 144 sale of 10,000 First BanCorp shares via Merrill Lynch with an indicated market value of $211,000. Acquisition records show these shares originated from restricted stock compensation across 2017–2022 and total exactly 10,000 shares, indicating the sale would liquidate those specific grants. Relative to the stated 160.47 million outstanding shares, this disposal is negligible in size and unlikely to move market pricing or corporate control metrics. The filing is a standard compliance disclosure rather than a signal of company-level financial stress.

Corporate Governance Expert

TL;DR: This is a routine disclosure of insider sales under Rule 144; governance implications appear minimal based on the data provided.

The notice documents that the securities to be sold were granted as restricted stock awards and that no gifts or third-party transfers are reported. The filer affirms no undisclosed material adverse information. Because the sale size is extremely small relative to the issuer’s outstanding shares, there is no evident governance concern such as insider divestiture that would materially alter ownership or signal a governance dispute. The record aligns with expected insider liquidity practices following vesting of compensation awards.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
First BanCorp Common Stock	Merrill Lynch Millenium Park Plaza, #15 Second Street Suite 210 Metro Office Park Guaynabo PR 00968	10000	211000.00	160469644	08/19/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
First BanCorp Common Stock	02/14/2018	Restricted Stock Acquired as compensation	FIRSTBANCORP/ PR/			1027	02/14/2018	Restricted Stock Acquired as compensation
First BanCorp Common Stock	03/14/2018	Restricted Stock Acquired as compensation	FIRSTBANCORP/ PR/			970	03/14/2018	Restricted Stock Acquired as compensation
First BanCorp Common Stock	01/31/2018	Restricted Stock Acquired as compensation	FIRSTBANCORP / PR/			1205	01/31/2018	Restricted Stock Acquired as compensation
First BanCorp Common Stock	03/18/2022	Restricted Stock Acquired as compensation	FIRSTBANCORP / PR/			905	03/18/2022	Restricted Stock Acquired as compensation
First BanCorp Common Stock	03/27/2018	Restricted Stock Acquired as compensation	FIRSTBANCORP / PR/			1032	03/27/2018	Restricted Stock Acquired as compensation
First BanCorp Common Stock	08/02/2017	Restricted Stock Acquired as compensation	FIRSTBANCORP / PR/			1290	08/02/2017	Restricted Stock Acquired as compensation
First BanCorp Common Stock	07/19/2017	Restricted Stock Acquired as compensation	FIRSTBANCORP / PR/			1279	07/19/2017	Restricted Stock Acquired as compensation
First BanCorp Common Stock	07/05/2017	Restricted Stock Acquired as compensation	FIRSTBANCORP / PR/			1284	07/05/2017	Restricted Stock Acquired as compensation
First BanCorp Common Stock	06/21/2017	Restricted Stock Acquired as compensation	FIRSTBANCORP / PR/			1008	06/21/2017	Restricted Stock Acquired as compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What is the size of the proposed sale by First BanCorp (FBP)?

The notice proposes selling 10,000 shares of First BanCorp common stock, with an aggregate market value of $211,000.

When is the approximate date of the planned sale for FBP shares?

The filing lists the approximate date of sale as 08/19/2025.

Through which broker will the FBP shares be sold?

The broker named is Merrill Lynch (Millenium Park Plaza, Guaynabo, PR) and the sale is planned on the NYSE.

How were the 10,000 FBP shares acquired?

All 10,000 shares were acquired as restricted stock awards issued as compensation across multiple grant dates from 2017 to 2022.

How material is this sale relative to First BanCorp’s outstanding shares?

The company lists 160,469,644 shares outstanding; 10,000 shares represent an immaterial portion (~0.006%).