FIRST BANCORP /PR/ — Director's Dealing 2015

Jan 23, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2015-01-21

Reporting Person: Berges Gonzalez Orlando (EVP and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-21	First BanCorp Common Stock	F	6629	$5.73	Disposed	247867	Direct
2015-01-21	First BanCorp Common Stock	A	1411	$5.45	Acquired	249278	Direct
2015-01-21	First BanCorp Common Stock	F	527	$5.45	Disposed	248751	Direct

Footnotes

F1: "Shares withheld to cover taxes related to restricted stock that vested pursuant to the terms of the restricted stock award on March 21, 2014 but remained subject to TARP restrictions on transfer until the Treasury confirmed on December 30, 2014 that those restrictions were released as of March 21, 2014."

F2: Salary 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 $5.45 (the closing price of the
Issuer's common stock as quoted on the NYSE on January 21, 2015, the last trading day of the pay period). The shares reported as disposed of were withheld for taxes.