Form 4 for FBP FIRST BANCORP /PR/
Accepted 2024-04-02 00:00:00 ET · period of report 2024-03-31 · accession 0000950170-24-040362 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2024-04-02 | 2024-03-31 | FBP | McDonald Michael | EVP | F - Tax | $17.54 | -3,899 | 109.3K | -3% | -$68.4K |
| D | 2024-04-02 | 2024-03-31 | FBP | McDonald Michael | EVP | M - OptEx | — | +9,769 | 113.2K | +9% | — |
| D | 2024-04-02 | 2024-03-31 | FBP | McDonald Michael | EVP | M - OptEx | — | -9,769 | 22.6K | -30% | — |
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. | 2024-03-31 | F | D | 2,599 | $17.54 | 110,581 | D | — | — | (F3) Shares withheld to cover taxes related to the Performance Share Units that vested on March 31, 2024 pursuant to the terms of the long-term incentive award made on March 31, 2021. |
| 2 | Common | First BanCorp Common Stock, par value $0.10 per share. | 2024-03-31 | M | A | 9,769 | — | 113,180 | D | — | — | (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 31, 2021. |
| 3 | Common | First BanCorp Common Stock, par value $0.10 per share. | 2024-03-31 | F | D | 1,300 | $17.54 | 109,281 | D | — | — | (F4) Shares withheld to cover taxes related to a restricted stock that vested on March 31, 2024 pursuant to the terms of the restricted stock award made on March 31, 2021. |
| 4 | Derivative | Performance Share Unit | 2024-03-31 | M | D | 9,769 | — | 22,644 | D | — · — to 2024-03-31 | 9,769 Common Stock | (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. (F5) The amount of 22,644 Performance Share Units were granted as a performance award with 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. (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 31, 2021. |