SEC Form 4 · accession 0001209191-15-006294
FIRST BANCORP /PR/ · FBP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lawrence Odell
Officer — EVP and General Counsel
Period of report
Jan 21, 2015
Accepted (ET)
Jan 23, 2015 · 6:25 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001057706
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| First BanCorp Common StockF1 | Mar 21, 2014 | F | 5,463 | $5.73 | D | 198,931 | D | |
| First BanCorp Common StockF2 | Jan 21, 2015 | A | 529 | $5.45 | A | 199,460 | D | |
| First BanCorp Common StockF2 | Jan 21, 2015 | F | 189 | $5.45 | D | 199,271 | D | |
| First BanCorp Common StockF3 | holding | — | — | — | 1,333 | I | Reporting Person's Children |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1"Shares withheld to cover taxes related to restricted stock that vested pursuant to the terms of the restricted stock award on March 21, 2014 but remained subject to TARP restrictions on transfer until the Treasury confirmed on December 30, 2014 that those restrictions were released as of March 21, 2014."
- F2Salary stock issued bi-weekly as a portion of the reporting person's salary compensation under the First BanCorp 2008 Omnibus Incentive Plan, as amended. Salary stock is fully vested on the date of grant. The number of shares represented by this award was determined by dividing the dollar value of the award granted to the reporting person by $5.45 (the closing price of the Issuer's common stock as quoted on the NYSE on January 21, 2015, the last trading day of the pay period). The shares reported as disposed of were withheld for taxes.
- F31,333 shares were acquired for the benefit of the reporting person's children.