Form 4: First BanCorp Director Increases Stake Through Dividend Reinvestment

Director Tracey A. Dedrick increases holdings in First BanCorp through dividend reinvestment, acquiring additional shares between March and September 2024.

Summary

• Tracey A. Dedrick, a director of First BanCorp, has increased their beneficial ownership of the company's common stock.
• The transactions occurred through a personal Dividend Reinvestment Plan.
• Between March 11, 2024, and September 13, 2024, Dedrick acquired additional shares at prices ranging from $14.4141 to $19.9794 per share.
• As of September 13, 2024, following these transactions, Dedrick directly owns 29,240.2823 shares of First BanCorp common stock.

Sentiment

Score: 7

Explanation: The document reflects a positive sentiment as a director is increasing their stake in the company, indicating confidence. However, it's a routine transaction through a dividend reinvestment plan, so the impact is moderate.

Positives

• The director's increased investment signals confidence in the company's future prospects.
• Dividend Reinvestment Plans allow shareholders to increase their holdings without incurring brokerage fees.

Industry Context

Dividend reinvestment plans are a common way for shareholders, including directors, to increase their stake in a company, reflecting a long-term investment strategy.

Stakeholder Impact

• The increased ownership by a director could be viewed positively by shareholders.

Key Dates