First BanCorp (FBP) CFO gains restricted stock and performance share units

Rhea-AI Filing Summary

First BanCorp EVP and CFO Orlando Berges Gonzalez reported equity compensation changes and related tax withholding. On March 19, 2026, he received 13,980 shares of First BanCorp common stock as restricted stock under the Omnibus Incentive Plan, and a separate grant of 13,980 Performance Share Units, each representing a contingent right to one common share based on performance goals.

The restricted stock vests solely over three years, with 50% vesting on March 19, 2028 and the remaining 50% on March 19, 2029. On March 21, 2026, 2,479 common shares were withheld to cover taxes on previously granted restricted stock that vested. After these transactions, he directly owns 323,539 common shares and holds 44,254 Performance Share Units.

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^*

Berges Gonzalez Orlando

(Last) (First) (Middle)

P.O. BOX 9146

(Street)

SAN JUAN PUERTO RICO 00908-0146

(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 and CFO

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		13,980(1)	A	$20.59	326,018	D
First BanCorp Common Stock, par value $0.10 per share	03/21/2026		F		2,479(2)	D	$20.57	323,539	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		13,980		(3)	03/19/2029	Common Stock	13,980	$0	44,254(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 44,254 Performance Share Units were granted as a performance award with 15,561 shares granted on March 21, 2024, 14,713 shares granted on March 19, 2025, and 13,980 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).
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* Form 4: SEC 1474 (03-26)

FAQ

What equity awards did FBP EVP and CFO Orlando Berges Gonzalez receive in this Form 4?

He received 13,980 shares of restricted First BanCorp common stock and 13,980 Performance Share Units. The restricted stock vests over three years, while the Performance Share Units convert into shares based on achievement of specified performance goals over the applicable performance period.

How do the new restricted stock awards for FBP’s CFO vest over time?

The restricted stock vests solely with time over three years. According to the plan, 50% of the granted shares vest on March 19, 2028, and the remaining 50% vest on March 19, 2029, assuming continued service and award conditions are met.

What are the key terms of the Performance Share Units granted to FBP’s CFO?

Each Performance Share Unit represents a contingent right to one FBP common share. Payout ranges from 50% of the award at threshold performance up to 150% at maximum performance, with interpolation in between, and no payout if performance results fall below the threshold level.

Why were 2,479 FBP common shares disposed of in this Form 4 filing?

The 2,479 shares were withheld to cover tax obligations on restricted stock that vested on March 21, 2026. This tax-withholding disposition was made pursuant to the terms of a restricted stock award originally granted on March 21, 2024 under the incentive plan.

What are Orlando Berges Gonzalez’s FBP holdings after these transactions?

After the reported transactions, he directly owns 323,539 shares of First BanCorp common stock. He also holds 44,254 Performance Share Units, granted over multiple years, each representing a contingent right to receive one share of FBP common stock subject to performance conditions.

How were the 44,254 Performance Share Units for FBP’s CFO accumulated?

The 44,254 Performance Share Units reflect cumulative performance awards. They consist of 15,561 units granted on March 21, 2024, 14,713 units granted on March 19, 2025, and 13,980 units granted on March 19, 2026, all vesting based on achievement of performance goals.