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

Rhea-AI Filing Summary

John A. Heffern, a director of First BanCorp (FBP), reported insider transactions on 09/30/2025. The filing shows 88 shares were disposed of at $22.05 (reported as code F) because they were withheld to cover taxes on restricted stock that vested that day. Simultaneously, 1,814 shares of restricted stock were issued at $22.05 under the company Omnibus Incentive Plan; those shares vest after one year on 09/30/2026. After these transactions Mr. Heffern beneficially owns 76,296 common shares, held directly.

Positive

• 1,814 restricted shares issued under the Omnibus Incentive Plan, vesting on 09/30/2026
• Director ownership stands at 76,296 shares after the reported transactions

Negative

• 88 shares disposed at $22.05 (reported as code F), withheld to cover taxes

Insights

Corporate Governance Analyst

Insider received restricted stock; small tax-withholding sale reduced holdings slightly.

What it means: The director was paid equity compensation in the form of 1,814 restricted shares that vest on 09/30/2026, indicating routine time-based compensation under the Omnibus Incentive Plan.

Why it matters: Issuance increases potential long-term alignment between the director and shareholders while the 88 shares withheld at $22.05 reflect a tax-related disposal, not an active market sale decision.

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).

1. Name and Address of Reporting Person^*

Heffern John A.

(Last) (First) (Middle)

P.O. 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		88(1)	D	$22.05	74,482	D
First BanCorp Common Stock, par value $0.10 per share.	09/30/2025		A		1,814(2)	A	$22.05	76,296	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 John A. Heffern report on Form 4 for FBP?

The filing reports 88 shares disposed at $22.05 to cover taxes and 1,814 restricted shares issued on 09/30/2025.

How many FBP shares does the reporting person own after the transactions?

After the transactions the reporting person beneficially owns 76,296 common shares, held directly.

When do the newly issued restricted shares vest?

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

Why were 88 shares disposed according to the filing?

The 88 shares were withheld to cover taxes related to restricted stock that vested on 09/30/2025.

What transaction code was used for the 88-share disposal?

The disposal used transaction code F, indicating a sale to cover tax withholding.