FIRST BANCORP /PR/ — Director's Dealing 2016

Apr 1, 2016

SEC Form 4/A — Form 4/A

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2016-03-16

Reporting Person: Odell Lawrence (EVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-16	First BanCorp Common Stock	A	1619	$2.85	Acquired	269047	Direct
2016-03-16	First BanCorp Common Stock	F	477	$2.85	Disposed	268570	Direct
2016-03-16	First BanCorp Common Stock	A	105263	$2.85	Acquired	373833	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
First BanCorp Common Stock	1333	Indirect

Footnotes

F1: 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 $2.85 (the closing price of the Issuer's common stock as quoted on the NYSE on March 16, 2016, the last trading day of the pay period). The shares reported as disposed of were withheld for taxes

F2: Issued pursuant to the First BanCorp 2008 Omnibus Incentive Plan, as amended. The shares shall fully vest solely on the basis of the passage of time over a two-year period on March 16, 2018. Notwithstanding vesting, the reporting person will be restricted from transferring the shares pursuant to additional TARP related restrictions.

F3: 1,333 shares were acquired for the benefit of the reporting person's children.

F4: To correct the ownership classification on the amount of securities beneficially owned following the reported transaction.