FIRST BANCORP /PR/ — Director's Dealing 2022

Mar 29, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2022-03-24

Reporting Person: Kafka Donald (EVP and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-03-24	First BanCorp Common Stock, par value $0.10 per share.	A	10456	$13.15	Acquired	252875	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-03-24	Performance Share Unit	$	A	10456	Acquired	2025-03-24	Common Stock (10456)	Direct

Footnotes

F1: Shares of restricted stock issued pursuant to the First BanCorp Onmibus 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 24, 2024 and the remaining 50% vesting on year three or March 24, 2025.

F2: Performance Share Units granted as a performance award, vesting based upon degree of achievement of performance goal. Each Performance Share Units represents a contingent right to receive one share of FBP common stock. At the end of the performance period, 50% of the award is paid for threshold-level performance up to 100% for target-level performance, in FBP common stock free of restriction. Amounts between threshold and target level performance are interpolated to reward incremental achievement and no amounts are paid if actual results of the performance goal are below threshold-level performance.