[Form 4] FIRST BANCORP /PR/ Insider Trading Activity

Rhea-AI Filing Summary

Daniel Edward Frye, a director of First BanCorp (FBP), reported transactions on 09/30/2025 related to restricted stock awards. The filing shows 49 shares were disposed of at $22.05 per share because they were withheld to cover taxes on restricted stock that vested that day. Concurrently, 1,814 shares of restricted stock were issued at $22.05 under the First BanCorp Omnibus Incentive Plan; these newly issued shares vest based solely on the passage of time on 09/30/2026. After the transactions, Mr. Frye beneficially owned 19,619 shares, held directly. The Form 4 was signed by an attorney-in-fact on 10/02/2025.

Insights

Corporate Governance / Insider Transactions

Insider received time‑vesting restricted stock; a small portion withheld for taxes.

The filing documents a routine equity compensation event: the vesting of restricted stock on 09/30/2025 produced a tax-withholding disposition of 49 shares at $22.05.

Simultaneously, the reporting person was issued 1,814 restricted shares under the company's omnibus plan that vest by 09/30/2026 solely by passage of time, indicating standard retention-oriented compensation rather than performance-based acceleration.

This transaction changes reported direct beneficial ownership to 19,619 shares and is consistent with routine director compensation and tax settlement mechanics disclosed in the Form 4.

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Frye Daniel Edward

(Last) (First) (Middle)

PO BOX 9146

(Street)

SAN JUAN PR 00908

(City) (State) (Zip)

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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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.	09/30/2025		F		49(1)	D	$22.05	17,805	D
First BanCorp Common Stock, par value $0.10 per share.	09/30/2025		A		1,814(2)	A	$22.05	19,619	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 vested on September 30, 2025 pursuant to the terms of the restricted stock award made on September 30, 2024.

2. Represents shares of restricted stock issued on September 30, 2025 pursuant to the First BanCorp Omnibus Incentive Plan, as amended, which vest solely on the basis of the passage of time over a one-year period on September 30, 2026.

	/s/ Adolfo Sepulveda, Esq., Attorney-in-Fact	10/02/2025
	** 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.

FAQ

What did the Form 4 filed for First BanCorp (FBP) on 10/02/2025 report?

It reported that director Daniel Edward Frye had 49 shares withheld for taxes upon vesting and was issued 1,814 restricted shares on 09/30/2025 at a price of $22.05.

Why were 49 shares disposed according to the Form 4?

The 49 shares were withheld to cover taxes related to restricted stock that vested on 09/30/2025 pursuant to the restricted stock award dated 09/30/2024.

When do the newly issued 1,814 restricted shares vest?

The 1,814 restricted shares vest solely on the passage of time on 09/30/2026.

How many First BanCorp shares does Daniel Frye beneficially own after the reported transactions?

Following the transactions, Mr. Frye beneficially owns 19,619 shares, held directly.

Under what plan were the restricted shares issued?

The shares were issued pursuant to the First BanCorp Omnibus Incentive Plan, as amended.