Carlos Power - Mar 18, 2022 Form 4 Insider Report for FIRST BANCORP /PR/ (FBP)

Role
EVP
Signature
/s/Carlos Power
Stock symbol
FBP
Transactions as of
Mar 18, 2022
Transactions value $
-$135,257
Form type
4
Date filed
3/22/2022, 07:05 PM
Next filing
Mar 28, 2022

Transactions Table

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 Tax liability -$60.5K -4.5K -2.1% $13.43 210K Mar 18, 2022 Direct F1
transaction FBP First BanCorp Common Stock, par value $0.10 per share Tax liability -$18.7K -1.39K -0.66% $13.45 209K Mar 21, 2022 Direct F2
transaction FBP First BanCorp Common Stock, par value $0.10 per share Tax liability -$56.1K -4.17K -2% $13.45 204K Mar 21, 2022 Direct F3
transaction FBP First BanCorp Common Stock, par value $0.10 per share Options Exercise +13.6K +6.65% 218K Mar 21, 2022 Direct F4, F5
holding FBP First BanCorp Common Stock, par value $0.10 per share 36.8K Mar 18, 2022 Through 401K Plan

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FBP Performance Share Unit Options Exercise -13.6K -25.36% 40K Mar 21, 2022 Common Stock 13.6K Direct F4, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld to cover taxes related to a restricted stock that vested on March 18, 2022 pursuant to the terms of the restricted stock award made on March 18, 2020.
F2 Shares withheld to cover taxes related to a restricted stock that vested on March 21, 2022 pursuant to the terms of the restricted stock award made on March 21, 2019.
F3 Shares withheld to cover taxes related to the performance share units granted in a restricted stock that vested on March 21, 2022, pursuant to the terms of the long-term incentive award made on March 21, 2019.
F4 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.
F5 Performance shares that vested based in the achievement of the performance goal at a level resulting in 100% of target, pursuant to a grant of performance shares award made on March 21, 2019.
F6 The amount of 40,044 performance share units were granted as a performance award, with 29,387 shares granted on March 18, 2020 and 10,657 shares granted on March 31, 2021 and vest based upon the degree of achievement of performance goals. Each performance right represents a contingent right to receive one share of FBP common stock.