First BanCorp (FBP) EVP awarded stock, performance units and tax withholding

Rhea-AI Filing Summary

First BanCorp executive Nayda Rivera reported routine equity compensation activity and related tax withholding. She received 13,576 shares of First BanCorp common stock as a restricted stock award and 13,576 Performance Share Units, each tied to one share of common stock and subject to performance goals.

The restricted stock vests solely over three years, with 50% vesting on March 19, 2028 and the rest on March 19, 2029. The Performance Share Units form part of a larger 39,328-unit performance award that can pay out between 50% and 150% of the granted amount based on results. Separately, 2,661 shares of common stock were withheld to cover taxes on previously granted restricted stock that vested, leaving Rivera with 250,398 common shares directly held.

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^*

RIVERA NAYDA

(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, CCO and Chief of Staff

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		13,576(1)	A	$20.59	253,059	D
First BanCorp Common Stock, par value $0.10 per share	03/21/2026		F		2,661(2)	D	$20.57	250,398	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		13,576		(3)	03/19/2029	Common Stock	13,576	$0	39,328(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 39,328 Performance Share Units were granted as a performance award with 12,564 shares granted on March 21, 2024, 13,188 shares granted on March 19, 2025, and 13,576 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) executive Nayda Rivera report in this Form 4?

Nayda Rivera reported an equity grant and routine tax withholding. She received 13,576 restricted common shares and 13,576 Performance Share Units, while 2,661 common shares were withheld to cover taxes on previously vested restricted stock awards.

How many First BanCorp (FBP) common shares does Nayda Rivera hold after these transactions?

After these transactions, Nayda Rivera directly holds 250,398 First BanCorp common shares. This figure reflects the net position following the 2,661 shares withheld for taxes tied to previously granted restricted stock that vested on March 21, 2026.

What are the terms of the restricted stock granted to Nayda Rivera by First BanCorp (FBP)?

The restricted stock grant of 13,576 shares vests solely with time over three years. Fifty percent vests on March 19, 2028 and the remaining 50% on March 19, 2029 under the First BanCorp Omnibus Incentive Plan.

How do Nayda Rivera’s Performance Share Units at First BanCorp (FBP) work?

The 13,576 Performance Share Units are part of a 39,328-unit performance award. Each unit can convert into one common share, paying 50% of the award at threshold results up to 150% at maximum performance, with nothing paid below threshold.

Why were 2,661 First BanCorp (FBP) shares disposed of in this Form 4?

The 2,661 shares were withheld to cover taxes on restricted stock that vested on March 21, 2026. This tax-withholding disposition is a non-market transaction used to satisfy tax obligations rather than an open-market sale of shares.

Over what period do Nayda Rivera’s First BanCorp (FBP) Performance Share Units vest?

The 39,328 Performance Share Units reflect grants on March 21, 2024, March 19, 2025, and March 19, 2026. They vest based on achievement of specified performance goals over the defined performance period, rather than on a simple time-based schedule.