First BanCorp (NYSE: FBP) EVP receives equity awards and tax-share withholding

Rhea-AI Filing Summary

First BanCorp executive Lilian Diaz-Bento reported equity compensation awards and a small tax-related share withholding. On March 19, 2026, she received 9,689 shares of restricted First BanCorp common stock that vest over three years, and 9,689 Performance Share Units tied to future performance goals. On March 21, 2026, 853 shares of common stock were withheld to cover taxes on previously vested restricted stock. After these transactions, she directly holds 64,375 common shares and 28,984 Performance Share Units.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Diaz-Bento Lilian

Role EVP

Type	Security	Shares	Price	Value
Tax Withholding	First BanCorp Common Stock, par value $0.10 per share	853	$20.57	$18K
Grant/Award	Performance Share Unit	9,689	$0.00	--
Grant/Award	First BanCorp Common Stock, par value $0.10 per share	9,689	$20.59	$199K

Holdings After Transaction: First BanCorp Common Stock, par value $0.10 per share — 64,375 shares (Direct); Performance Share Unit — 28,984 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 28,984 Performance Share Units were granted as a performance award with 9,823 shares granted on March 21, 2024, 9,472 shares granted on March 19, 2025, and 9,689 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^*

Diaz-Bento Lilian

(Last) (First) (Middle)

PO 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		9,689(1)	A	$20.59	65,228	D
First BanCorp Common Stock, par value $0.10 per share	03/21/2026		F		853(2)	D	$20.57	64,375	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		9,689		(3)	03/19/2029	Common Stock	9,689	$0	28,984(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 28,984 Performance Share Units were granted as a performance award with 9,823 shares granted on March 21, 2024, 9,472 shares granted on March 19, 2025, and 9,689 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 did First BanCorp (FBP) EVP Lilian Diaz-Bento report in this Form 4?

EVP Lilian Diaz-Bento reported routine equity compensation activity, including new grants of restricted common stock and Performance Share Units plus a small share withholding to cover taxes on vested restricted stock. These are compensation and tax events, not open-market stock purchases or sales.

How many First BanCorp (FBP) restricted shares were granted to the EVP?

She received 9,689 shares of restricted First BanCorp common stock on March 19, 2026. These shares were issued under the company’s Omnibus Incentive Plan and are subject to time-based vesting over three years before becoming fully unrestricted for the executive.

How do the new restricted shares for First BanCorp (FBP) EVP vest over time?

The 9,689 restricted shares vest solely based on time over three years. According to the award terms, 50% vest on March 19, 2028, and the remaining 50% vest on March 19, 2029, assuming continued service and satisfaction of the plan’s conditions.

What are the Performance Share Units granted to the First BanCorp (FBP) EVP?

She was granted 9,689 Performance Share Units on March 19, 2026, each representing a contingent right to one FBP share. Payout depends on achieving performance goals, ranging from 50% of the award at threshold to 150% at maximum performance levels, with no payout below threshold.

How many total Performance Share Units does the First BanCorp (FBP) EVP now hold?

Following the latest grant, she holds 28,984 Performance Share Units in total. This amount reflects performance awards granted across three years, each unit representing a potential share of First BanCorp common stock if specified performance targets are ultimately met.

Why were 853 First BanCorp (FBP) shares disposed of in this Form 4?

The 853 shares were not sold on the market; they were withheld by the company to cover taxes on restricted stock that vested on March 21, 2026, from a March 21, 2024 award. This is a standard tax-withholding disposition, not a discretionary share sale.

What are the First BanCorp (FBP) EVP’s holdings after these Form 4 transactions?

After the reported transactions, she directly holds 64,375 shares of First BanCorp common stock plus 28,984 Performance Share Units. The common shares represent current ownership, while the Performance Share Units may convert into additional shares depending on future performance outcomes.