SEC Form 4 · accession 0001209191-18-021556
FIRST BANCORP /PR/ · FBP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Carlos Power
Officer — EVP
Period of report
Mar 21, 2018
Accepted (ET)
Mar 23, 2018 · 6:41 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 shareF1 | Mar 21, 2018 | A | 13,575 | $0.00 | A | 214,166 | D | |
| First BanCorp Common Stock, par value $0.10 per share | holding | — | — | — | 22,571 | I | Through 401K Plan. |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Share UnitF2 | — | Mar 21, 2018 | A | 20,362 | A | — | Mar 21, 2021 | Common Stock | 20,362 | 20,362 | D |
Explanation of responses
- 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.