First BanCorp (NYSE: FBP) CAO has 2,109 shares withheld for taxes

Rhea-AI Filing Summary

First BanCorp’s Chief Accounting Officer, Ortiz Said, reported a routine tax-related share disposition. On March 16, 2026, 2,109 shares of First BanCorp common stock were withheld to cover taxes on restricted stock that vested under a March 16, 2023 award. After this withholding, Ortiz directly holds 40,167.489 shares, including 313.65846 shares acquired through a dividend reinvestment plan.

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

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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^*

Ortiz Said

(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)
	Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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	03/16/2026		F		2,109(1)	D	$20.57	40,167.489(2)	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

Explanation of Responses:

1. Shares withheld to cover taxes related to restricted stock that vested on March 16, 2026 pursuant to the terms of the restricted stock award made on March 16, 2023.

2. Includes 313.65846 shares of common stock aqcuired through a Dividend Reinvesment Plan that meets the reporting exemption requirements under Rule 16a-11.

	/s/ Adolfo Sepulveda, Esq., Attorney-in-Fact	03/18/2026
	** 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).
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* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did First BanCorp (FBP) report for Ortiz Said?

First BanCorp reported that Chief Accounting Officer Ortiz Said had 2,109 shares withheld to cover taxes on vested restricted stock. This was a tax-withholding disposition, not an open-market sale or purchase, and reflects routine handling of equity compensation.

Was the First BanCorp (FBP) Form 4 transaction an open-market sale?

No, the Form 4 shows a tax-withholding disposition, not an open-market sale. Shares were withheld by the company to pay taxes due on restricted stock vesting, a standard administrative process tied to stock-based compensation rather than a discretionary trade.

How many First BanCorp (FBP) shares does Ortiz Said hold after this transaction?

After the March 16, 2026 tax withholding, Ortiz Said directly holds 40,167.489 First BanCorp common shares. This total includes 313.65846 shares acquired through a dividend reinvestment plan that qualifies for a reporting exemption under SEC Rule 16a-11.

What triggered the tax-withholding share disposition for First BanCorp (FBP)?

The disposition was triggered when restricted stock awarded to Ortiz Said on March 16, 2023 vested on March 16, 2026. To cover related tax obligations, 2,109 shares were withheld in lieu of a cash tax payment, as disclosed in the Form 4 footnote.

Does the First BanCorp (FBP) Form 4 indicate any option exercises or derivative transactions?

No derivative transactions are shown in this Form 4. The filing indicates only a non-derivative tax-withholding disposition of 2,109 common shares, with the derivative position summary empty, meaning no option exercises or similar derivative events were reported in this instance.

How does the dividend reinvestment plan affect Ortiz Said’s First BanCorp (FBP) holdings?

The filing notes that 313.65846 of Ortiz Said’s shares were acquired through a dividend reinvestment plan. These shares are part of his 40,167.489 total holdings and were accumulated automatically as dividends were reinvested instead of being paid out in cash.