First BanCorp (FBP) proposes sale of 40,000 shares ($849,600)

First BanCorp (FBP) submitted a Form 144 reporting a proposed sale of 40,000 shares of common stock through Goldman Sachs & Co. LLC on 08/12/2025.

Rhea-AI Filing Summary

First BanCorp (FBP) submitted a Form 144 reporting a proposed sale of 40,000 shares of common stock through Goldman Sachs & Co. LLC on 08/12/2025. The filing lists an aggregate market value of $849,600 and indicates 160,469,644 shares outstanding, which frames the sale's relative size. The shares to be sold were acquired as compensation in a series of issuances in 2022–2023, including performance awards and restricted stock units totaling the 40,000 shares.

The form reports no securities sold in the past three months. Several identifying fields in the copy provided (filer name/CIK and the named person for whose account the sale is to occur) are blank in the supplied text, so the filing shows proposed insider-origin shares and a scheduled brokered sale but does not identify the selling individual in this excerpt.

Positive

• Securities were acquired as compensation (performance awards and restricted stock units), as explicitly stated in the filing.
• No securities sold in the past three months is reported ("Nothing to Report").

Negative

• Filer identity fields are blank in the provided excerpt (no filer name or CIK visible).
• Form does not identify the person for whose account the securities are to be sold or state a relationship to the issuer in the supplied content.

Insights

Securities Analyst

TL;DR: Small, scheduled sale of compensation shares via broker; filing lacks seller identity in the provided excerpt.

The Form 144 indicates a proposed brokered sale of 40,000 common shares valued at $849,600 on 08/12/2025. The securities were acquired as compensation (performance awards and RSUs) in 2022–2023 and no sales are reported in the past three months. From an investor-impact perspective this size is immaterial relative to the 160.47 million shares outstanding, and the filing as provided does not disclose the selling person's identity or relationship to the issuer, limiting conclusions about motive or timing.

Corporate Governance Expert

TL;DR: Transaction appears routine; missing identifying details reduce transparency in the provided excerpt.

The filing documents that the 40,000 shares were received as compensation across specific grant dates and are to be sold via Goldman Sachs. The absence of the filer/beneficial owner fields in the supplied content reduces the governance transparency normally expected in Rule 144 notices. While the amounts and acquisition dates are clearly stated, stakeholders reviewing only this excerpt cannot verify the seller's status (insider, affiliate, or non-affiliate) or whether any trading plan governs the sale.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is being proposed to be sold in the First BanCorp (FBP) Form 144?

The filing proposes the sale of 40,000 common shares via Goldman Sachs & Co. LLC on 08/12/2025 with an aggregate market value of $849,600 and 160,469,644 shares outstanding.

When and how were the shares being sold acquired?

The shares were acquired as compensation: 03/17/2023 (performance awards, 21,027 shares), 03/18/2023 (RSUs, 10,515), 03/31/2023 (RSUs, 5,901), and 03/18/2022 (RSUs, 2,557).

Has the seller sold any First BanCorp (FBP) securities in the past three months?

No. The filing states "Nothing to Report" for securities sold during the past three months.

Who is the broker handling the proposed sale?

The broker named in the filing is Goldman Sachs & Co. LLC, 200 West Street, New York, NY 10282.

Does the provided filing excerpt identify the selling individual or their relationship to FBP?

In the supplied content, the fields for the filer name/CIK and the person for whose account the securities are to be sold are not populated; the selling individual is not identified in this excerpt.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/12/2025 - 05:22 PM Learn about SEC filing dates

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	0001631334
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	First BanCorp.
SEC File Number	001-14793
Address of Issuer	1519 Ponce de Leon Avenue Stop 23 San Juan PUERTO RICO 00908
Phone	1-787-729-8200
Name of Person for Whose Account the Securities are To Be Sold	Donald L. Kafka
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	Officer

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
Common	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	40000	849600	160469644	08/12/2025	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 *
Common	03/17/2023	Acquired as compensation -- Performance Awards	Issuer			21027	03/17/2023	Compensation
Common	03/18/2023	Acquired as compensation -- Restricted Stock Units	Issuer			10515	03/18/2023	Compensation
Common	03/31/2023	Acquired as compensation -- Restricted Stock Units	Issuer			5901	03/31/2023	Compensation
Common	03/18/2022	Acquired as compensation -- Restricted Stock Units	Issuer			2557	03/18/2022	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	08/12/2025
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	Goldman Sachs & Co. LLC on behalf of Donald L. Kafka
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)