Form 4: First BanCorp Director Reports Stock Transactions

First BanCorp Director Luz Crespo reported the vesting of restricted stock, tax-related share withholding, and a new restricted stock grant.

Summary

• Director Luz Crespo reported transactions involving First BanCorp common stock.
• On September 30, 2025, 189 shares were disposed of at a price of $22.05 per share to cover taxes related to vested restricted stock.
• On the same date, 1,814 shares of restricted stock were acquired at a price of $22.05 per share.
• The acquired restricted stock was issued under the First BanCorp Omnibus Incentive Plan and is scheduled to vest over a one-year period on September 30, 2026.
• Following these transactions, Luz Crespo directly beneficially owns 62,271 shares of First BanCorp common stock.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions related to director compensation (restricted stock vesting and new grants). These are standard events and do not indicate a significant positive or negative shift in company performance or outlook.

Positives

• Director Luz Crespo received a new grant of 1,814 shares of restricted stock, aligning her interests with long-term shareholder value.

Negatives

• 189 shares were withheld to cover tax obligations, which is a standard procedure for restricted stock vesting.

Future Outlook

The newly acquired 1,814 shares of restricted stock are scheduled to vest on September 30, 2026, based on the passage of time over a one-year period.

Industry Context

This filing represents a routine insider transaction, common for directors and executives receiving equity compensation. It reflects the standard practice of restricted stock awards vesting and subsequent tax withholding, followed by new grants as part of an incentive plan.

Stakeholder Impact

• Shareholders: The grant of restricted stock to a director aligns management incentives with shareholder interests over the long term.
• Employees: The Omnibus Incentive Plan is a standard compensation tool, potentially impacting employee motivation and retention if similar plans are offered.

Next Steps

• The 1,814 shares of restricted stock granted on September 30, 2025, are expected to vest on September 30, 2026.

Key Dates

Keywords

First BanCorp, FBP, Luz Crespo, Director, Restricted Stock, Insider Transaction, SEC Form 4, Equity Compensation