SEC Form 4 · accession 0001104659-16-148340

FIRST BANCORP /PR/ · FBP

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Table I — non-derivative securities

Table II — derivative securities

Explanation of responses

• F1Restricted stock issued to Michael P. Harmon, a Managing Director of Oaktree Capital Management, L.P. and a director of First Bancorp, pursuant to the First BanCorp 2008 Omnibus Incentive Plan, as amended. The shares will vest on September 29, 2017. Mr. Harmon holds these 4,960 shares of restricted stock for the benefit of OCM FIE, LLC ("FIE"). Pursuant to the policies of the Reporting Persons, Mr. Harmon must hold the shares on behalf of and for the benefit of FIE and is assigning all economic, pecuniary and voting rights to FIE. The Reporting Persons disclaim beneficial ownership of these securities, and the filing of this Form 4 shall not be construed as an admission that such persons are beneficial owners of such securities covered by this Form 4, except to the extent of any indirect pecuniary interest therein.
• F2This Form 4 is being filed by Mr. Harmon and by (i) FIE; (ii) Oaktree Capital Management, L.P. ("OCM"), in its capacity as the managing member of FIE, (iii) Oaktree Holdings, Inc., in its capacity as the general partner of OCM ("Holdings"); (iv) Oaktree Capital Group, LLC ("OCG"), in its capacity as the sole shareholder of Holdings; and (v) Oaktree Capital Group Holdings GP, LLC ("OCGH GP," and together with FIE, OCM, Holdings, and OCG, each a "Reporting Person" and collectively, the "Reporting Persons"), in its capacity as the manager of OCG.
• F3The Reporting Persons may be deemed directors by deputization by virtue of their right to designate a representative to be nominated by the Issuer to serve on the Issuer's board of directors.
• F4OCGH GP is a limited liability company managed by an executive committee, the members of which are Howard S. Marks, Bruce A. Karsh, Jay S. Wintrob, John B. Frank, David M. Kirchheimer, Sheldon M. Stone and Stephen A. Kaplan (the "OCGH GP Members"). In such capacity, the OCGH GP Members may be deemed indirect beneficial owners of the securities reported herein. Except to the extent of their respective pecuniary interest, each OCGH GP Member disclaims beneficial ownership of the securities reported herein and the filing of this Form 4 shall not be construed as an admission that any such person is the beneficial owner of any securities covered by this Form 4.