FBP Form 4: 1,814 Restricted Shares Issued; Tax Withholding Reported

Rhea-AI Filing Summary

Reporting person Dedrick Tracey A, a director of First BanCorp /PR/ (FBP), reported transactions dated 09/30/2025. The filing shows 1,814 shares of restricted stock were issued under the First BanCorp Omnibus Incentive Plan and will vest on 09/30/2026 based solely on the passage of time. Concurrently, a portion of restricted stock that vested on 09/30/2025 had shares withheld to cover taxes (recorded as a disposition). Following these transactions the report shows beneficial ownership of 33,760.4893 shares. The transactions were effected at a reported price of $22.05 per share and the Form 4 was signed by an attorney-in-fact on 10/02/2025.

Positive

• Director received 1,814 restricted shares under the First BanCorp Omnibus Incentive Plan
• Beneficial ownership rose to 33,760.4893 shares following the transactions

Negative

• A portion of vested restricted shares was withheld to cover taxes (recorded as a disposition)
• Transactions occurred at a reported price of $22.05, which may lock in tax withholding at that price

Insights

Corporate Governance Expert

Director received time-based restricted stock and had shares withheld for taxes.

The filing documents a standard director equity award: 1,814 restricted shares issued under the company's omnibus plan that vest on 09/30/2026 solely by passage of time. This is a common compensation mechanism to align directors with shareholder interests without immediate transfer of full ownership.

The report also shows shares were withheld to satisfy tax obligations from restricted stock that vested on 09/30/2025; such withholding is routine and reduces the net shares received on vesting.

Insider Transactions Analyst

Net beneficial ownership increased to 33,760.4893 shares after issuance and withholding.

The Form 4 lists a disposition tied to tax withholding and an acquisition of 1,814 restricted shares at a reported per-share price of $22.05. The filing shows the reporting person's beneficial ownership at 33,760.4893 shares following the transactions, indicating a net increase in economic exposure despite the withholding.

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).

1. Name and Address of Reporting Person^*

Dedrick Tracey 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		47(1)	D	$22.05	31,946.4893	D
First BanCorp Common Stock, par value $0.10 per share.	09/30/2025		A		1,814(2)	A	$22.05	33,760.4893	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 for FBP filed by Dedrick Tracey A report?

It reported the issuance of 1,814 restricted shares on 09/30/2025, withholding of vested shares to cover taxes, and beneficial ownership of 33,760.4893 shares after the transactions.

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 some shares disposed of on the Form 4?

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

What price is shown for the reported transactions?

The transactions are reported at a price of $22.05 per share.

Who signed the Form 4?

The Form 4 was signed by Adolfo Sepulveda, Esq., Attorney-in-Fact on 10/02/2025.