FBP.NYSEFirst Bancorp /PR/

Form 4: First BanCorp EVP and CFO, Orlando Berges Gonzalez, Reports Stock Transaction

Sentiment:

SEC Form 4 Filing

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Orlando Berges Gonzalez, EVP and CFO of First BanCorp, reports the withholding of 3,787 shares to cover taxes related to vested restricted stock on March 16, 2025, at a price of $18.26 per share.

Summary

  • On March 16, 2025, Orlando Berges Gonzalez, the EVP and CFO of First BanCorp, had 3,787 shares of First BanCorp common stock withheld to cover taxes.
  • This transaction was related to restricted stock that vested on March 16, 2025, as part of a long-term incentive award made on March 16, 2023.
  • The price per share for the transaction was $18.26.
  • Following the transaction, Berges Gonzalez directly owns 273,233 shares of First BanCorp common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a standard stock transaction related to executive compensation; it doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC when corporate insiders, like the CFO, transact in their company's stock. This filing indicates the executive's stock-based compensation and tax obligations.

Stakeholder Impact

  • The transaction has a minor impact on shareholders as it involves the withholding of shares for tax purposes, which is a normal part of executive compensation.

Key Dates

DateDescription
03/16/2023Date of the long-term incentive award.
03/16/2025Date of the stock transaction and vesting of restricted stock.
03/18/2025Date of signature on the Form 4 filing.

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