Form 4: First BanCorp EVP Carlos Power Reports Stock Transaction

Carlos Power, EVP of First BanCorp, reports the withholding of shares to cover taxes related to vested restricted stock.

Summary

• On March 16, 2025, Carlos Power, an Executive Vice President at First BanCorp, had 2,295 shares of First BanCorp common stock withheld at a price of $18.26 per share to cover taxes related to restricted stock that vested.
• Following the transaction, Power directly owns 173,927 shares of First BanCorp common stock.
• Power also indirectly owns 32,9636 shares through a 401K plan.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine stock transaction. It doesn't convey any particularly positive or negative sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry. It provides transparency into the executive's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders in publicly traded companies, as mandated by the SEC.
• Similar filings are made by executives at comparable financial institutions like Popular, Inc. and OFG Bancorp, detailing their stock transactions.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it is a routine tax-related withholding of shares.
• The filing provides transparency to stakeholders regarding executive stock ownership.

Key Dates