SEC Form 4/A · accession 0001209191-16-111797
FIRST BANCORP /PR/ · FBP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Lawrence Odell
Officer — EVP and General Counsel
Period of report
Mar 16, 2016
Accepted (ET)
Apr 1, 2016 · 6:03 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 | 1,619 | $2.85 | A | 269,047 | D | |
| First BanCorp Common StockF1 | 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 | D | |
| First BanCorp Common StockF3,F4 | holding | — | — | — | 1,333 | I | Reporting Person's Children |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Salary 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.
- F4To correct the ownership classification on the amount of securities beneficially owned following the reported transaction.