Form 4: First BanCorp Director Acquires Shares of Restricted Stock

Director Roberto R. Herencia acquires 4,723 shares of First BanCorp restricted stock under the company's Omnibus Incentive Plan.

Summary

• On September 30, 2024, Roberto R. Herencia, a director of First BanCorp, acquired 4,723 shares of First BanCorp common stock.
• The shares were issued as restricted stock under the First BanCorp Omnibus Incentive Plan, as amended.
• The acquisition price was $21.17 per share.
• The restricted stock vests over a one-year period, with full vesting occurring on September 30, 2025.
• Following the transaction, Herencia directly owns 751,945 shares of First BanCorp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of a stock acquisition by a director, which doesn't inherently indicate positive or negative sentiment.

Positives

• The acquisition of shares by a director signals confidence in the company's future prospects.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company insiders and their holdings in the company's stock.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholder confidence due to the director's increased investment in the company.

Key Dates