Form 4 for FBP FIRST BANCORP /PR/
Accepted 2024-03-25 00:00:00 ET · period of report 2024-03-21 · accession 0000950170-24-036097 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2024-03-25 | 2024-03-21 | FBP | McDonald Michael | EVP | A - Grant | $17.35 | +6,023 | 104.5K | +6% | +$104.5K |
| D | 2024-03-25 | 2024-03-24 | FBP | McDonald Michael | EVP | F - Tax | $16.86 | -1,113 | 103.4K | -1% | -$18.8K |
| D | 2024-03-25 | 2024-03-21 | FBP | McDonald Michael | EVP | A - Grant | $0.00 | +6,023 | 32.4K | +23% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | First BanCorp Common Stock, par value $0.10 per share. | 2024-03-21 | A | A | 6,023 | $17.35 | 104,524 | D | — | — | (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. |
| 2 | Common | First BanCorp Common Stock, par value $0.10 per share. | 2024-03-24 | F | D | 1,113 | $16.86 | 103,411 | D | — | — | (F2) 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. |
| 3 | Derivative | Performance Share Unit | 2024-03-21 | A | A | 6,023 | $0.00 | 32,413 | D | — · — to 2027-03-21 | 6,023 Common Stock | (F4) The amount of 32,413 Performance Share Units were granted as a performance award with 9,769 shares granted on March 31, 2021, 8,365 shares granted on March 24, 2022, 8,256 shares granted on March 16, 2023, and 6,023 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. (F3) 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. |