First BanCorp (FBP) EVP receives stock awards and withholds shares for taxes

Rhea-AI Filing Summary

FIRST BANCORP /PR/ executive Jose Maria Lacasa reported routine equity compensation and related tax withholding. He received 10,693 shares of First BanCorp common stock as restricted stock on March 19, 2026 at $20.59 per share under the company’s Omnibus Incentive Plan. These restricted shares vest solely with time, 50% on March 19, 2028 and the remaining 50% on March 19, 2029.

He was also granted 10,692 Performance Share Units, each tied to one share of common stock, as part of a larger 26,948‑unit performance award that vests based on achievement of performance goals. On March 21, 2026, 1,596 common shares were withheld to cover taxes on previously granted restricted stock that vested, leaving him with 81,473 common shares held directly.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Lacasa Jose Maria

Role EVP

Type	Security	Shares	Price	Value
Tax Withholding	First BanCorp Common Stock, par value $0.10 per share	1,596	$20.57	$33K
Grant/Award	Performance Share Unit	10,692	$0.00	--
Grant/Award	First BanCorp Common Stock, par value $0.10 per share	10,693	$20.59	$220K

Holdings After Transaction: First BanCorp Common Stock, par value $0.10 per share — 81,473 shares (Direct); Performance Share Unit — 26,948 shares (Direct)

Footnotes (1)

1. 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 19, 2028, and the remaining 50% vesting on year three or March 19, 2029. Shares withheld to cover taxes related to restricted stock that vested on March 21, 2026 pursuant to the terms of the restricted stock award made on March 21, 2024. 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 26,948 Performance Share Units were granted as a performance award with 7,907 shares granted on March 21, 2024, 8,349 shares granted on March 19, 2025, and 10,692 shares granted on March 19, 2026 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.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lacasa Jose Maria

(Last) (First) (Middle)

P.O. BOX 9146

(Street)

SAN JUAN PUERTO RICO 00908

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FIRST BANCORP /PR/ [ FBP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
First BanCorp Common Stock, par value $0.10 per share	03/19/2026		A		10,693(1)	A	$20.59	83,069	D
First BanCorp Common Stock, par value $0.10 per share	03/21/2026		F		1,596(2)	D	$20.57	81,473	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Share Unit	(3)	03/19/2026		A		10,692		(3)	03/19/2029	Common Stock	10,692	$0	26,948(4)	D

Explanation of Responses:

1. 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 19, 2028, and the remaining 50% vesting on year three or March 19, 2029.

2. Shares withheld to cover taxes related to restricted stock that vested on March 21, 2026 pursuant to the terms of the restricted stock award made on March 21, 2024.

3. 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.

4. The amount of 26,948 Performance Share Units were granted as a performance award with 7,907 shares granted on March 21, 2024, 8,349 shares granted on March 19, 2025, and 10,692 shares granted on March 19, 2026 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, Es., Attorney-in-Fact	03/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What equity awards did First BanCorp (FBP) EVP Jose Maria Lacasa receive?

Jose Maria Lacasa received 10,693 restricted shares of First BanCorp common stock and 10,692 Performance Share Units. The restricted shares vest over three years, while the PSUs vest based on performance goals tied to FBP’s results.

How do Jose Maria Lacasa’s new restricted First BanCorp (FBP) shares vest?

The 10,693 restricted First BanCorp shares vest solely with time: 50% on March 19, 2028 and the remaining 50% on March 19, 2029. Vesting is not performance-based, only dependent on continued service.

How are the Performance Share Units for First BanCorp (FBP) structured?

Each of the 10,692 new Performance Share Units represents a contingent right to one FBP share. Payout ranges from 50% of the award at threshold performance up to 150% at maximum, with nothing paid if results fall below threshold.

What is Lacasa’s total Performance Share Unit position in First BanCorp (FBP)?

Lacasa holds 26,948 Performance Share Units in total, from grants of 7,907 units on March 21, 2024, 8,349 units on March 19, 2025, and 10,692 units on March 19, 2026. Each unit can convert into one FBP share upon vesting.

Why were 1,596 First BanCorp (FBP) shares disposed of in this Form 4?

The 1,596 FBP shares were withheld to cover taxes on restricted stock that vested on March 21, 2026 from a March 21, 2024 award. This tax-withholding disposition is not an open-market sale by the executive.

How many First BanCorp (FBP) common shares does Jose Maria Lacasa now hold directly?

After the tax withholding of 1,596 shares, Jose Maria Lacasa directly holds 81,473 shares of First BanCorp common stock. This reflects his updated ownership position following the vesting and withholding transaction.