FIRST BANCORP /PR/ — Director's Dealing 2015

Jul 10, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2015-04-06

Reporting Person: MARTINO EMILIO (EVP and CLO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-06	First BanCorp Common Stock	F	108	$6.39	Disposed	166971	Direct
2015-07-08	First BanCorp Common Stock	A	933	$4.53	Acquired	167904	Direct
2015-07-08	First BanCorp Common Stock	F	262	$4.53	Disposed	167642	Direct

Footnotes

F1: Shares withheld to cover taxes related to restricted stock that vested on April 6, 2015 pursuant to the terms of the restricted stock award made on April 3, 2013.

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 $4.53 (the closing price of the
Issuer's common stock as quoted on the NYSE on July 8, 2015, the last trading day of the pay period). The shares reported as disposed of were withheld for taxes.

F3: Includes 2,825 shares purchased through the Employee Purchase Plan.