Form 4: First BanCorp EVP and COO Donald Kafka Reports Stock Transaction
SEC Form 4 Filing
Donald Kafka, EVP and COO of First BanCorp, reports the withholding of shares to cover taxes related to vested restricted stock.
Summary
- On March 16, 2025, Donald Kafka, EVP and COO of First BanCorp, had 2,270 shares of First BanCorp Common Stock withheld to cover taxes.
- The shares were withheld at a price of $18.26 per share.
- This transaction relates to restricted stock that vested on March 16, 2025, pursuant to a long-term incentive award made on March 16, 2023.
- Following the transaction, Kafka directly owns 92,319 shares of First BanCorp Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing regarding a routine stock transaction. It doesn't convey any particularly positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It's a standard practice for executives to have shares withheld to cover taxes upon the vesting of restricted stock.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a routine tax-related stock withholding.
Key Dates
| Date | Description |
|---|---|
| 03/16/2023 | Date of long-term incentive award. |
| 03/16/2025 | Date of transaction (stock withholding) and vesting of restricted stock. |
| 03/18/2025 | Date of signature on the Form 4 filing. |
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