FIRST BANCORP /PR/ — Director's Dealing 2012

Mar 23, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2012-03-21

Reporting Person: Odell Lawrence (EVP/General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-21	First BanCorp Common Stock, par value $0.10 per share	A	72000	$4	Acquired	74000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
First BanCorp Common Stock, par value $0.10 per share	1333	Indirect

Footnotes

F1: Issued pursuant to the First BanCorp 2008 Omnibus Incentive Plan, as amended. The shares will vest as follows: fifty percent (50%) of the shares will vest on the second anniversary date of the grant and the remaining fifty percent (50%) will vest on the third anniversary date of the grant. Notwithstanding vesting, the reporting person will be restricted from transferring the shares pursuant to additional TARP related restrictions.

F2: 1,333 shares were acquired for the benefit of the reporting person's children.