Form 4: First BanCorp EVP Nayda Rivera Sells 15,000 Shares

Nayda Rivera, EVP and CRO of First BanCorp, sold 15,000 shares of the company's common stock at an average price of $17.12 on March 5, 2024.

Summary

• On March 5, 2024, Nayda Rivera, the Executive Vice President and Chief Risk Officer of First BanCorp, sold 15,000 shares of First BanCorp common stock.
• The shares were sold at a weighted average price of $17.12, with individual sales prices ranging from $17.11 to $17.13.
• Following the transaction, Rivera directly owns 246,930 shares of First BanCorp, which includes 2,612 shares purchased through the Employee Stock Purchase Plan.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a routine disclosure of an insider stock sale. The size of the sale is not significant relative to Rivera's total holdings.

Industry Context

Form 4 filings are a routine part of regulatory compliance for corporate insiders and are closely watched by investors for signals about management's view of the company's prospects. While a sale doesn't necessarily indicate a negative outlook, it can sometimes raise questions.

Stakeholder Impact

• The sale of shares by an executive officer could be perceived negatively by some shareholders, although the impact is likely minimal given the relatively small size of the transaction.

Key Dates