Form 4: First BanCorp EVP Jose Maria Lacasa Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President Jose Maria Lacasa reports the vesting and subsequent tax withholding of shares related to performance share units and restricted stock, impacting his beneficial ownership in First BanCorp.
Summary
- Jose Maria Lacasa, an EVP at First BanCorp, reported transactions involving First BanCorp common stock on March 24, 2025.
- These transactions include the vesting of 7,984 performance share units, which converted into common stock.
- A portion of the shares were then withheld to cover taxes related to the vested performance share units (2,983 shares) and restricted stock (1,492 shares).
- Following these transactions, Lacasa directly owns 66,262 shares of First BanCorp common stock and 27,749 performance share units.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track executive compensation and ownership changes.
Stakeholder Impact
- The transactions affect the executive's ownership stake in the company, which is of interest to shareholders.
Key Dates
| Date | Description |
|---|---|
| March 24, 2022 | Date of original performance share unit and restricted stock awards. |
| March 16, 2023 | Grant date of 11,493 performance share units. |
| March 21, 2024 | Grant date of 7,907 performance share units. |
| March 19, 2025 | Grant date of 8,349 performance share units. |
| March 24, 2025 | Date of reported transactions: vesting of performance share units and tax withholding. |
| March 26, 2025 | Date of signature on the Form 4 filing. |
Keywords
First BanCorp, FBP, Form 4, Beneficial Ownership, Performance Share Units, Restricted Stock, Executive Compensation, Stock Transactions
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