SEC Form 4 · accession 0001209191-18-021541

· FBP

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

Reporting owner

Officer — President and CEO · Director

Period of report

Mar 21, 2018

Accepted (ET)

Mar 23, 2018 · 6:28 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, par value $0.10 per share.^F1	Mar 21, 2018	A	70,134	—	A	1,039,041	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Performance Share Unit^F2	—	Mar 21, 2018	A	105,199	A	—	Mar 21, 2021	Common Stock	105,199	105,199	D

F1Shares of restricted stock issued pursuant to the First BanCorp Omnibus Incentive Plan, as amended. The shares shall fully vest solely on the basis of the passage of time over a three year period, with 50% vesting on year two or March 21, 2020 and the remaining 50% vesting on year three or March 21, 2021.
F2Performance Share Units granted as a performance award, vesting based upon degree of achievement of performance goal. Each performance right represents a contingent right to receive one share of FBP common stock. At the end of the performance period, 100% of the award is paid in common stock free of restrictions. If the final amount is less than 100% of the share units, the balance is forfeited to the Corporation.