FIRST BANCORP /PR/ — Director's Dealing 2025

Mar 21, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST BANCORP /PR/ (FBP)
CIK: 0001057706
Period of Report: 2025-03-19

Reporting Person: Lacasa Jose Maria (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-19	First BanCorp Common Stock, par value $0.10 per share	A	8349	$18.35	Acquired	62753	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-03-19	Performance Share Unit	$	A	8349	Acquired	2028-03-19	Common Stock (8349)	Direct

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 19, 2027, and the remaining 50% vesting on year three or March 19, 2028.

F2: Performance Share Units granted as a performance award, vesting based upon degree of achievement of performance goal. Each Performance Share Unit 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 150% for maximum level performance, in FBP common stock free of restriction. Amounts between threshold, target, and maximum 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.

F3: The amount of 35,491 Performance Share Units were granted as a performance award with 7,984 shares granted on March 24, 2022, 11,493 shares granted on March 16, 2023, 7,665 shares granted on March 21, 2024, and 8,349 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.