Form 4: First BanCorp EVP and CFO Orlando Berges Gonzalez Sells 75,000 Shares

Orlando Berges Gonzalez, EVP and CFO of First BanCorp, sold 75,000 shares of common stock at an average price of $17.9187 on May 1, 2024.

Summary

• On May 1, 2024, Orlando Berges Gonzalez, the EVP and CFO of First BanCorp, sold 75,000 shares of First BanCorp common stock.
• The shares were sold at a weighted average price of $17.9187.
• The prices ranged from $17.8792 to $17.9416.
• Following the transaction, Berges Gonzalez directly owns 277,020 shares of First BanCorp common stock.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. The sentiment is neutral as it simply reports the sale of shares by an executive.

Industry Context

Executive stock sales are a common occurrence and are often related to personal financial planning rather than a reflection of the company's prospects. However, large or frequent sales can sometimes be viewed negatively by investors.

Stakeholder Impact

• The sale of shares by a high-ranking executive could potentially create uncertainty among shareholders, although the impact is likely to be minimal given the size of the transaction relative to the company's overall market capitalization.

Key Dates