SCHEDULE: Vanguard Group Updates First BanCorp Ownership

The Vanguard Group reports zero beneficial ownership in First BanCorp/Puerto Rico common stock following an internal realignment.

Summary

• The Vanguard Group, Inc. filed an Amendment No. 9 to Schedule 13G for First BanCorp/Puerto Rico.
• As of the event date March 13, 2026, The Vanguard Group reports 0 shares beneficially owned, representing 0% of the class of Common Stock.
• This change is attributed to an internal realignment within The Vanguard Group, Inc. on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of The Vanguard Group, Inc. will now report beneficial ownership separately (on a disaggregated basis).
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over the securities beneficially owned by these subsidiaries and/or business divisions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily a technical reporting update by The Vanguard Group regarding its beneficial ownership structure, with no direct positive or negative implications for First BanCorp's operational or financial performance.

Future Outlook

The Vanguard Group's subsidiaries and/or business divisions will pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment and will report beneficial ownership separately.

Management Comments

• On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. Further in accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

Industry Context

StockSavvy.ai notes that such internal realignments and subsequent disaggregated reporting are common among large asset managers like Vanguard, often driven by operational efficiencies or regulatory interpretations, and do not necessarily indicate a change in investment strategy towards the underlying issuer, First BanCorp.

Stakeholder Impact

• Shareholders of First BanCorp/Puerto Rico: The underlying ownership of shares by Vanguard-managed funds remains, but the reporting entity has changed, which is a technical rather than a fundamental shift in ownership.

Next Steps

• Certain subsidiaries or business divisions of The Vanguard Group, Inc. will report beneficial ownership of First BanCorp/Puerto Rico separately on a disaggregated basis.

Key Dates

Keywords

First BanCorp, Vanguard Group, Schedule 13G, Beneficial Ownership, SEC Filing, Common Stock, Investment Adviser, Puerto Rico