| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | FBP | First BanCorp Common Stock, par value $0.10 per share. | Award | $153K | +8.83K | +16.11% | $17.35 | 63.6K | Mar 21, 2024 | Direct | F1, F2 |
| transaction | FBP | First BanCorp Common Stock, par value $0.10 per share. | Tax liability | -$34K | -2.02K | -3.17% | $16.86 | 61.6K | Mar 24, 2024 | Direct | F2, F3 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | FBP | Performance Share Unit | Award | $0 | +8.83K | +40.97% | $0.00 | 30.4K | Mar 21, 2024 | Common Stock | 8.83K | Direct | F4, F5, F6 |
| Id | Content |
|---|---|
| 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 21, 2026 and the remaining 50% vesting on year three or March 21, 2027. |
| F2 | The original Form 4, filed on March 25, 2024, is being amended by this Form 4 amendment solely to correct an administrative error which misreported the shares of restricted stock awarded on March 21, 2024 as a total of 8,745 shares when in fact, 8,831 shares of the Issuer's common stock were awarded to the reporting person. As a result of this administrative error, the number of shares beneficially owned by the reporting person following the corrected transaction reflects an increase in the number of shares reported as beneficially owned. |
| F3 | Shares withheld to cover taxes related to the restricted stock that vested on March 24, 2024 pursuant to the terms of the long-term incentive award made on March 24, 2022. |
| F4 | 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. |
| F5 | The original Form 4, filed on March 25, 2024, is being amended by this Form 4 amendment solely to correct an administrative error which misreported the Performance Share Unit awarded on March 21, 2024 as a total of 8,744 when in fact, 8,830 Performance Share Units were awarded to the reporting person. As a result of this administrative error, the number of derivative securities beneficially owned by the reporting person following the corrected transaction reflects an increase in the number of derivative securities reported as beneficially owned. |
| F6 | The amount of 30,298 Performance Share Units were granted as a performance award with 9,528 shares granted on March 24, 2022, 12,026 shares granted on March 16, 2023, and 8,744 shares granted on March 21, 2024, 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. |