First BanCorp (FBP) CEO gets stock and PSUs; shares withheld for tax

Rhea-AI Filing Summary

First BanCorp President and CEO Aurelio Aleman reported routine equity compensation and related tax withholding transactions. He received a grant of 58,318 shares of First BanCorp common stock at a reference price of $20.59, issued as restricted stock under the company’s Omnibus Incentive Plan. These shares vest solely over time, with 50% vesting on March 19, 2028 and the remaining 50% on March 19, 2029.

He was also granted 58,318 Performance Share Units, each representing a contingent right to one share of common stock, contributing to a total of 177,115 Performance Share Units outstanding from performance awards. Payout ranges from 50% of the award at threshold performance to 150% at maximum, with no payout below threshold. Separately, 12,693 common shares were withheld on March 21, 2026 at $20.57 per share to cover taxes on previously granted restricted stock that vested, leaving him with 1,130,475 common shares held directly.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider ALEMAN AURELIO

Role President and CEO

Type	Security	Shares	Price	Value
Tax Withholding	First BanCorp Common Stock, par value $0.10 per share	12,693	$20.57	$261K
Grant/Award	Performance Share Unit	58,318	$0.00	--
Grant/Award	First BanCorp Common Stock, par value $0.10 per share	58,318	$20.59	$1.20M

Holdings After Transaction: First BanCorp Common Stock, par value $0.10 per share — 1,130,475 shares (Direct); Performance Share Unit — 177,115 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 177,115 Performance Share Units were granted as a performance award with 59,942 shares granted on March 21, 2024, 58,855 shares granted on March 19, 2025, and 58,318 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
Estimated average burden
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^*

ALEMAN AURELIO

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

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		58,318(1)	A	$20.59	1,143,168	D
First BanCorp Common Stock, par value $0.10 per share	03/21/2026		F		12,693(2)	D	$20.57	1,130,475	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		58,318		(3)	03/19/2029	Common Stock	58,318	$0	177,115(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 177,115 Performance Share Units were granted as a performance award with 59,942 shares granted on March 21, 2024, 58,855 shares granted on March 19, 2025, and 58,318 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) CEO Aurelio Aleman receive?

Aurelio Aleman received 58,318 shares of First BanCorp common stock as restricted stock and 58,318 Performance Share Units. The restricted shares vest over three years, while the Performance Share Units pay out in stock based on achievement of performance goals.

How do Aurelio Aleman’s restricted stock awards at FBP vest over time?

The restricted stock award vests solely based on time. Fifty percent of the shares vest on March 19, 2028, and the remaining 50% vest on March 19, 2029. This schedule encourages longer-term alignment between the CEO and First BanCorp shareholders.

How many Performance Share Units does the FBP CEO hold after these grants?

After the latest grant, Aurelio Aleman holds 177,115 Performance Share Units. These units were granted in 59,942, 58,855, and 58,318 share tranches across 2024, 2025, and 2026, and each unit represents a contingent right to one common share.

How are First BanCorp Performance Share Units for the CEO paid out?

Each Performance Share Unit represents a contingent right to one FBP common share. At the end of the performance period, payout ranges from 50% of the award at threshold performance up to 150% at maximum, with no payout if results fall below threshold.

Why were 12,693 FBP shares disposed of in the CEO’s Form 4 filing?

The 12,693 shares were withheld to cover taxes on restricted stock that vested on March 21, 2026. This tax-withholding disposition is not an open-market sale; it satisfies tax obligations from an earlier March 21, 2024 restricted stock award.

How many FBP common shares does the CEO hold after these transactions?

Following the tax-withholding disposition, Aurelio Aleman directly holds 1,130,475 shares of First BanCorp common stock. This figure reflects his updated direct ownership position after the vesting-related tax withholding on March 21, 2026.