Brookfield Oaktree Holdings, LLC — Director's Dealing 2012

Aug 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2012-08-02

Reporting Person: Oaktree Capital Group Holdings GP, LLC (10% Owner)
Reporting Person: Oaktree Fund GP, LLC (10% Owner)
Reporting Person: OAKTREE FUND GP I, L.P. (10% Owner)
Reporting Person: Oaktree Capital I, L.P. (10% Owner)
Reporting Person: OCM HOLDINGS I, LLC (10% Owner)
Reporting Person: Oaktree Capital Group, LLC (10% Owner)
Reporting Person: OAKTREE HOLDINGS, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-02	Common Stock, par value $0.10 per share	A	7485	$3.34	Acquired	50691970	Indirect

Footnotes

F1: Restricted stock issued to Michael P. Harmon, a Managing Director of Oaktree Capital Management, L.P. and a director of First Bancorp, pursuant to the First BanCorp 2008 Omnibus Incentive Plan, as amended. The shares will vest on August 2, 2013. Mr. Harmon holds these 7,485 shares of restricted stock for the benefit of OCM FIE, LLC ("FIE"). Pursuant to the policies of the Reporting Persons, Mr. Harmon must hold the shares on behalf of and for the benefit of FIE and is assigning all economic, pecuniary and voting rights to FIE. The Reporting Persons disclaim beneficial ownership of these securities, and the filing of this Form 4 shall not be construed as an admission that such persons are beneficial owners of such securities covered by this Form 4, except to the extent of any indirect pecuniary interest therein.

F2: This Form 4 is being filed by (i) Oaktree Fund GP, LLC ("GP"), in its capacity as the managing member of FIE, (ii) Oaktree Fund GP I, L.P. ("GP I"), in its capacity as the managing member of GP; (iii) Oaktree Capital I, L.P. ("Capital I"), in its capacity as the general partner of GP I; (iv) OCM Holdings I, LLC ("Holdings I"), in its capacity as the general partner of Capital I; (v) Oaktree Holdings, LLC ("Holdings"), in its capacity as the managing member of Holdings I; (vi) Oaktree Capital Group, LLC ("OCG"), in its capacity as the managing member of Holdings; and (vii) Oaktree Capital Group Holdings GP, LLC ("OCGH GP," and together with GP, GP I, Capital I, Holdings I, Holdings, and OCG, each a "Reporting Person" and collectively, the "Reporting Persons"), in its capacity as the manager of OCG.

F3: Information with respect to each Reporting Person is given solely by such Reporting Person, and no such Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person. Concurrently with the filing of this Form 4, Mr. Harmon is filing a Form 4 with respect to the restricted stock reported herein, and FIE is filing a Form 3 with respect to the restricted stock reported herein.

F4: OCGH GP is a limited liability company managed by an executive committee, the members of which are Howard S. Marks, Bruce A. Karsh, John B. Frank, David M. Kirchheimer, Sheldon M. Stone, Larry W. Keele, Stephen A. Kaplan and Kevin L. Clayton (the "OCGH GP Members"). In such capacity, the OCGH GP Members may be deemed indirect beneficial owners of the securities reported herein. Except to the extent of their respective pecuniary interest, each OCGH GP Member disclaims beneficial ownership of the securities reported herein, and the filing of this Form 4 shall not be construed as an admission that any such person is the beneficial owner of any securities covered by this Form 4.