Form 4: First BanCorp Director Patricia Eaves Reports Stock Transactions

Director Patricia Eaves reports acquisition and disposal of First BanCorp common stock related to vesting of restricted stock.

Summary

• On March 31, 2025, Patricia Eaves, a director of First BanCorp, engaged in transactions involving the company's common stock.
• 228 shares were withheld to cover taxes related to restricted stock that vested.
• Eaves also acquired 2,086 shares of restricted stock issued under the First BanCorp Omnibus Incentive Plan.
• These shares vest over a one-year period, becoming fully vested on March 31, 2026.
• Following these transactions, Eaves beneficially owns 19,988 shares of First BanCorp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing simply reports routine stock transactions related to director compensation.

Positives

• The acquisition of restricted stock demonstrates a continued alignment of the director's interests with the company's long-term performance.

Future Outlook

The restricted stock will vest on March 31, 2026.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Comparison to Industry Standards

• Director stock ownership is a common practice across the financial industry to align management and shareholder interests.
• Companies like JPMorgan Chase, Bank of America, and Citigroup also have similar stock ownership guidelines for their directors.
• The vesting schedule of one year is relatively standard for restricted stock awards.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are part of standard director compensation practices.

Key Dates

Keywords

First BanCorp, Director, Patricia Eaves, Stock Transactions, Restricted Stock, Beneficial Ownership, Form 4