Form 4: First BanCorp EVP and CFO Orlando Berges Gonzalez Reports Share Transactions

Orlando Berges Gonzalez, EVP and CFO of First BanCorp, reports the vesting and subsequent tax withholding of shares related to performance share units and restricted stock.

Summary

• On March 24, 2025, Orlando Berges Gonzalez, EVP and CFO of First BanCorp, reported transactions involving First BanCorp common stock.
• 15,969 Performance Share Units vested based on the achievement of performance goals at 100% of the target level, pursuant to a grant awarded on March 24, 2022.
• Shares were withheld to cover taxes related to the vested Performance Share Units and restricted stock, both from grants made on March 24, 2022.
• The price for tax withholding was $19.04 per share.
• Following the reported transactions, Berges Gonzalez directly owns 296,285 shares of First BanCorp common stock and 53,017 Performance Share Units.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects routine executive compensation transactions. The vesting of performance shares suggests the achievement of performance targets, which is mildly positive.

Positives

• The vesting of Performance Share Units indicates the achievement of performance goals at the target level.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies.

Stakeholder Impact

• The vesting of performance share units aligns executive compensation with company performance, potentially benefiting shareholders.

Key Dates

Keywords

Form 4, Beneficial Ownership, First BanCorp, FBP, Orlando Berges Gonzalez, EVP, CFO, Performance Share Units, Restricted Stock, Vesting, Tax Withholding