Form 4: First BanCorp Executive Said Ortiz Reports Stock Transaction
SEC Form 4 Filing
Said Ortiz, Chief Accounting Officer of First BanCorp, reports disposition of shares to cover taxes related to vested restricted stock.
Summary
- On March 31, 2024, Said Ortiz, the Chief Accounting Officer of First BanCorp, disposed of 298 shares of First BanCorp common stock to cover taxes related to restricted stock that vested on the same date.
- The transaction was executed at a price of $17.54 per share.
- Following the transaction, Ortiz directly owns 35,598.831 shares of First BanCorp common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing represents a routine transaction related to executive compensation and tax obligations.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard tax withholding procedure related to vested equity compensation.
Key Dates
| Date | Description |
|---|---|
| 03/31/2021 | Date of restricted stock award |
| 03/31/2024 | Date of transaction and vesting of restricted stock |
| 04/02/2024 | Date of signature on the Form 4 filing |
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