First BanCorp (FBP) EVP granted restricted stock and 9,227 Performance Share Units

Rhea-AI Filing Summary

First BanCorp EVP Lopez-Lay Ginoris reported equity compensation and related tax withholding transactions. On March 19, 2026, she received 9,228 shares of First BanCorp common stock as restricted stock under the First BanCorp Omnibus Incentive Plan, vesting over three years with 50% on March 19, 2028 and 50% on March 19, 2029. She also received 9,227 Performance Share Units, each representing a contingent right to one share of common stock based on achievement of performance goals, bringing total Performance Share Units to 27,149.

On March 21, 2026, 796 shares of common stock were withheld to cover taxes on restricted stock that vested from a March 21, 2024 award, a tax-withholding disposition rather than an open-market sale. After these transactions, she directly held 221,389 shares of common stock and 27,149 Performance Share Units.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Lopez-Lay Ginoris

Role EVP

Type	Security	Shares	Price	Value
Tax Withholding	First BanCorp Common Stock, par value $0.10 per share	796	$20.57	$16K
Grant/Award	Performance Share Unit	9,227	$0.00	--
Grant/Award	First BanCorp Common Stock, par value $0.10 per share	9,228	$20.59	$190K

Holdings After Transaction: First BanCorp Common Stock, par value $0.10 per share — 221,389 shares (Direct); Performance Share Unit — 27,149 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 27,149 Performance Share Units were granted as a performance award with 9,168 shares granted on March 21, 2024, 8,754 shares granted on March 19, 2025, and 9,227 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
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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^*

Lopez-Lay Ginoris

(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

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		9,228(1)	A	$20.59	222,185	D
First BanCorp Common Stock, par value $0.10 per share	03/21/2026		F		796(2)	D	$20.57	221,389	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		9,227		(3)	03/19/2029	Common Stock	9,227	$0	27,149(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 27,149 Performance Share Units were granted as a performance award with 9,168 shares granted on March 21, 2024, 8,754 shares granted on March 19, 2025, and 9,227 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) EVP Lopez-Lay Ginoris receive?

She received 9,228 shares of restricted First BanCorp common stock and 9,227 Performance Share Units. The restricted stock vests over three years, while the Performance Share Units convert to shares only if performance goals are achieved.

How do the new restricted stock awards for First BanCorp (FBP) EVP vest?

The restricted stock vests solely with time over three years: 50% on March 19, 2028 and the remaining 50% on March 19, 2029. These shares were issued under the First BanCorp Omnibus Incentive Plan, as amended.

How do the Performance Share Units for First BanCorp (FBP) EVP work?

Each Performance Share Unit equals a contingent right to one FBP share. At the end of the performance period, payouts range from 50% of the award at threshold performance up to 150% at maximum performance, with nothing paid below threshold.

How many Performance Share Units does the First BanCorp (FBP) EVP hold after this Form 4?

After the latest grant, she holds 27,149 Performance Share Units. This total reflects 9,168 units granted on March 21, 2024, 8,754 units on March 19, 2025, and 9,227 units on March 19, 2026, all contingent on performance results.

Were any First BanCorp (FBP) shares sold on the open market in this Form 4?

No open-market sales were reported. Instead, 796 shares of common stock were withheld on March 21, 2026 to cover taxes on restricted stock that vested from a March 21, 2024 award, a standard tax-withholding transaction.

What are the First BanCorp (FBP) EVP’s share and unit holdings after these transactions?

Following the reported transactions, she directly holds 221,389 shares of First BanCorp common stock and 27,149 Performance Share Units. The units may convert into an equivalent number of common shares depending on performance goal achievement.