Form 4: First BanCorp Director Luz Crespo Reports Stock Transactions
SEC Form 4 Filing
Director Luz Crespo reports acquisition and disposal of First BanCorp stock related to vesting of restricted stock.
Summary
- Luz Crespo, a director of First BanCorp, filed a Form 4 detailing changes in beneficial ownership.
- On September 30, 2024, Ms. Crespo disposed of 298 shares at $21.17 to cover taxes related to restricted stock vesting.
- Also on September 30, 2024, Ms. Crespo acquired 1,889 shares of restricted stock at $21.17, which vest on September 30, 2025.
- Following these transactions, Ms. Crespo beneficially owns 60,646 shares of First BanCorp common stock.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to stock-based compensation, indicating a neutral sentiment.
Future Outlook
The restricted stock vests over a one-year period, indicating a continued alignment of the director's interests with the company's performance until September 30, 2025.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track management's sentiment and potential alignment with shareholder interests.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding director stock ownership.
- The vesting of restricted stock aligns the director's interests with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 09/30/2023 | Date of restricted stock award. |
| 09/30/2024 | Date of stock disposal for tax coverage and restricted stock issuance. |
| 09/30/2025 | Vesting date for the restricted stock issued on September 30, 2024. |
| 10/02/2024 | Date of Form 4 filing. |
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