FIRST BANCORP /PR/ — Director's Dealing 2020

Mar 20, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2020-03-18

Reporting Person: Odell Lawrence (EVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-18	First BanCorp Common Stock	A	23725	$4.08	Acquired	213251	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-18	Performance Share Unit	$	A	23725	Acquired	2023-03-18	Common Stock (23725)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
First BanCorp Common Stock	1333	Indirect

Footnotes

F1: 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 18, 2022 and the remaining 50% vesting on year three or March 18, 2023.

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

F3: 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.