Form 4: First BanCorp CEO Gifts Shares Under 10b5-1 Plan

First BanCorp President and CEO Aurelio Aleman reported a planned gift of 10,000 common shares, reducing his direct beneficial ownership to 1,049,547 shares, effective December 10, 2025.

Summary

• Aurelio Aleman, President and CEO, and a Director of First BanCorp /PR/ (FBP), reported a change in beneficial ownership.
• On December 10, 2025, Mr. Aleman disposed of 10,000 shares of First BanCorp Common Stock, par value $0.10 per share.
• The transaction was a bona fide gift, executed without any consideration.
• Following this transaction, Mr. Aleman directly beneficially owns 1,049,547 shares of common stock.
• The 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).

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction (a gift) under a 10b5-1 plan, which is neutral in terms of company performance or outlook. It is a personal financial decision by an executive.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged and transparent approach to insider transactions.
• The transaction is a gift, which is a personal financial decision and not a sale for cash.

Negatives

• A reduction in direct beneficial ownership by a key executive, even through a gift, slightly decreases insider alignment, though the remaining holding is substantial.

Future Outlook

The transaction is dated in the future (December 10, 2025), indicating it is a pre-planned event under a Rule 10b5-1 plan, designed to manage insider stock holdings in a compliant manner.

Industry Context

This is a routine disclosure of an insider transaction, common across all publicly traded companies. The use of a 10b5-1 plan is a standard practice for executives to manage their stock holdings in compliance with insider trading rules, providing a structured approach to buying or selling shares.

Related Party Transactions

• Aurelio Aleman, President and CEO, gifted 10,000 shares of common stock. While the specific recipient is not disclosed in the filing, gifts often occur between related parties.

Stakeholder Impact

• Shareholders: Minimal impact, as the gift represents a small fraction of the CEO's total holdings and the company's outstanding shares. It slightly reduces insider ownership.
• Employees, Customers, Suppliers, Creditors: No direct impact from this insider transaction.

Key Dates

Keywords

First BanCorp, FBP, Aurelio Aleman, insider transaction, Form 4, stock gift, beneficial ownership, Rule 10b5-1 plan, CEO, Director