Form 4: First BanCorp Director Sells Over 14,000 Shares Under Pre-Arranged Plan

Roberto R. Herencia, a Director at First BanCorp, sold 14,738 shares of common stock for approximately $300,890 under a Rule 10b5-1 trading plan.

Summary

• Roberto R. Herencia, a Director of First BanCorp /PR/ (FBP), executed a sale of common stock.
• On June 11, 2025, Mr. Herencia disposed of 14,738 shares of First BanCorp Common Stock, par value $0.10 per share.
• The shares were sold at a weighted average price of $20.4174 per share, with prices ranging from $20.41 to $20.43.
• The total value of the shares sold is approximately $300,890.
• Following this transaction, Mr. Herencia beneficially owns 637,207 shares of First BanCorp common stock.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 4

Explanation: The sale by a director, while under a pre-arranged 10b5-1 plan, still represents a reduction in insider ownership, which is generally viewed as a neutral to slightly negative signal by the market.

Positives

• The sale was conducted under a Rule 10b5-1 trading plan, indicating it was pre-scheduled and not based on immediate, non-public information, which can mitigate negative investor perception.

Negatives

• A director selling shares, even if pre-planned, reduces insider ownership and can be perceived by some investors as a slight lack of confidence or a move to diversify away from the company's stock.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the company's future performance.

Industry Context

This filing reports an individual insider transaction and does not provide broader industry context or trends. It reflects a director's personal portfolio management rather than a strategic corporate move.

Stakeholder Impact

• Shareholders may interpret the director's sale as a signal regarding the company's future prospects or the director's personal financial planning.

Next Steps

• The reporting person undertakes to provide to First BanCorp, any security holder of First BanCorp, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the reported range.

Key Dates

Recommendation

Keywords

First BanCorp, FBP, SEC Form 4, Insider Trading, Stock Sale, Director, Common Stock, Rule 10b5-1