Form 4: First BanCorp EVP Carlos Power Reports Stock Transactions

Carlos Power, EVP of First BanCorp, reports the vesting and subsequent tax withholding of shares related to performance share units and restricted stock, along with adjustments to performance share unit holdings.

Summary

• On March 24, 2025, Carlos Power, EVP of First BanCorp, reported transactions involving First BanCorp common stock.
• These transactions included the vesting of 10,646 performance share units, which converted into common stock.
• A total of 3,245 shares were withheld to cover taxes related to the vested performance share units.
• Additionally, 1,623 shares were withheld to cover taxes related to restricted stock that vested on the same date.
• Following these transactions, Power directly owns 188,349 shares of First BanCorp common stock and indirectly owns 32,9636 shares through a 401K plan.
• Power also holds 31,600 performance share units granted between March 2023 and March 2025, which vest based on the achievement of performance goals.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing reflecting standard compensation practices, so the sentiment is neutral.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is a common practice in publicly traded companies. It provides transparency to investors regarding insider activity.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect the execution of existing compensation plans.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Transactions, Performance Share Units, Restricted Stock, First BanCorp, FBP, Carlos Power, Vesting, Tax Withholding