FIRST BANCORP /PR/ — Director's Dealing 2025

Mar 26, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2025-03-24

Reporting Person: Kafka Donald (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-24	First BanCorp Common Stock, par value $0.10 per share	M	10456	—	Acquired	109669	Direct
2025-03-24	First BanCorp Common Stock, par value $0.10 per share	F	3906	$19.04	Disposed	105763	Direct
2025-03-24	First BanCorp Common Stock, par value $0.10 per share	F	1953	$19.04	Disposed	103810	Direct

Derivative Transactions

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

Footnotes

F1: 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.

F2: Performance Share Units that vested based on the achievement of the performance goal at a level resulting in 100% of target, pursuant to a grant of Performance Share Units awarded on March 24, 2022.

F3: Shares withheld to cover taxes related to the Performance Share Units that vested on March 24, 2025 pursuant to the terms of the long-term incentive award made on March 24, 2022.

F4: Shares withheld to cover taxes related to a restricted stock that vested on March 24, 2025 pursuant to the terms of the restricted stock award made on March 24, 2022.

F5: The amount of 25,703 Performance Share Units were granted as a performance award with 11,123 shares granted on March 16, 2023, 7,687 shares granted on March 21, 2024, and 6,893 shares granted on March 19, 2025 and vest upon the degree of achievement of performance goals. Each Performance Share Unit represents a contingent right to receive one share of FBP common stock.