SEC Form 4 · accession 0001209191-16-109470

· FBP

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

A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).

Reporting owner

Officer — EVP and General Counsel

Period of report

Mar 16, 2016

Accepted (ET)

Mar 18, 2016 · 4:10 pm EDT

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 Stock^F1	Mar 16, 2016	A	1,619	$2.85	A	269,047	D
First BanCorp Common Stock^F1	Mar 16, 2016	F	477	$2.85	D	268,570	D
First BanCorp Common Stock	Mar 16, 2016	A	105,263	$2.85	A	373,833	I	Reporting Person's Children
First BanCorp Common Stock^F3	holding	—	—		—	1,333	D

No Table II lines on this filing.

F1(i) Salary 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 $2.85 (the closing price of the Issuer's common stock as quoted on the NYSE on March 16, 2016, the last trading day of the pay period). The shares reported as disposed of were withheld for taxes.
F2Issued pursuant to the First BanCorp 2008 Omnibus Incentive Plan, as amended. The shares shall fully vest solely on the basis of the passage of time over a two-year period on March 16, 2018. Notwithstanding vesting, the reporting person will be restricted from transferring the shares pursuant to additional TARP related restrictions.
F31,333 shares were acquired for the benefit of the reporting person's children.