Form 4: First BanCorp EVP Pancham Cassan Reports Stock Transactions
SEC Form 4 Filing
EVP Pancham Cassan of First BanCorp reports the withholding of shares to cover taxes related to vested restricted stock.
Summary
- On May 15, 2025, Pancham Cassan, an Executive Vice President at First BanCorp, had shares withheld to cover taxes related to vested restricted stock.
- A total of 1,566 shares were withheld at a price of $21.1 per share related to a restricted stock award made on March 16, 2023.
- An additional 2,165 shares were withheld at $21.1 per share related to a restricted stock award made on March 21, 2024.
- Furthermore, 2,026 shares were withheld at $21.1 per share related to a restricted stock award made on March 15, 2025.
- Following these transactions, Cassan directly owns 299,088 shares of First BanCorp common stock.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to stock transactions, and does not contain information that would significantly impact sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the transactions of company insiders.
Key Dates
| Date | Description |
|---|---|
| 2023-03-16 | Date of restricted stock award related to the withholding of 1,566 shares. |
| 2024-03-21 | Date of restricted stock award related to the withholding of 2,165 shares. |
| 2025-03-15 | Date of restricted stock award related to the withholding of 2,026 shares. |
| 2025-05-15 | Date of stock transactions (shares withheld for taxes). |
| 2025-05-21 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Stock Transactions, Executive Compensation, Restricted Stock, First BanCorp, FBP, Pancham Cassan
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