SEC Form 4 · accession 0001209191-16-109497
FIRST BANCORP /PR/ · FBP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Calixto Garcia
Officer — EVP
Period of report
Mar 16, 2016
Accepted (ET)
Mar 18, 2016 · 4:23 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 StockF1 | Mar 16, 2016 | A | 3,103 | $2.85 | A | 305,964 | D | |
| First BanCorp Common StockF1 | Mar 16, 2016 | F | 679 | $2.85 | D | 305,285 | D | |
| First BanCorp Common Stock | Mar 16, 2016 | A | 136,842 | $2.85 | D | 442,127 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- 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.