FIRST BANCORP /PR/ — Director's Dealing 2019

Mar 25, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2019-03-21

Reporting Person: Odell Lawrence (EVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-03-21	First BanCorp Common Stock	F	8416	$11.16	Disposed	181877	Direct
2019-03-21	First BanCorp Common Stock	A	7649	—	Acquired	189526	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-03-21	Performance Share Unit	$	A	11472	Acquired	2022-03-21	Common Stock (11472)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
First BanCorp Common Stock	1333	Indirect

Footnotes

F1: Shares withheld to cover taxes related to a restricted stock that vested on March 21, 2019 pursuant to the terms of the restricted stock award made on March 21, 2017.

F2: Shares of restricted stock issued pursuant to the First BanCorp Omnibus Incentive Plan, as amended. The shares shall fully vest solely on the basis of the passage of time over a three year period, with 50% vesting on year two or March 21, 2021 and the remaining 50% vesting on year three or March 21, 2022.

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

F4: Performance Share Units granted as a performance award, vesting based upon degree of achievement of performance goal. Each performance right represents a contingent right to receive one share of FBP common stock. At the end of the performance period, 100% of the award is paid in common stock free of restrictions. If the final amount is less than 100% of the share units, the balance is forfeited to the Corporation.