SEC Form 4 · accession 0001209191-16-114256
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
Apr 13, 2016
Accepted (ET)
Apr 15, 2016 · 9:21 am 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 | Apr 13, 2016 | A | 1,564 | $2.95 | A | 376,224 | D | |
| First BanCorp Common StockF1 | Apr 13, 2016 | F | 475 | $2.95 | D | 375,749 | D | |
| First BanCorp Common StockF2 | 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 $2.95 (the closing price of the Issuer's common stock as quoted on the NYSE on April 13, 2016, the last trading day of the pay period). The shares reported as disposed of were withheld for taxes.
- F21,333 shares were acquired for the benefit of the reporting person's children.