Ortiz Said 4

What Happened

• Ortiz Said, Chief Accounting Officer of First Bancorp (FBP), had 2,109 shares withheld (disposed) to cover tax withholding tied to restricted stock that vested on March 16, 2026. The withholding was executed at $20.57 per share, for a notional value of approximately $43,382.
• This was a tax-withholding disposition (code F), not an open-market sale—a routine administrative action to satisfy payroll/tax obligations following RSU vesting.

Key Details

• Transaction date: 2026-03-16
• Filing date: 2026-03-18 (filed two days after the transaction — appears timely)
• Shares withheld/disposed: 2,109 at $20.57 per share; total ≈ $43,382
• Footnote F1: Shares were withheld to cover taxes on restricted stock that vested on March 16, 2026 from an award granted March 16, 2023.
• Footnote F2: Holdings include 313.65846 shares acquired via a Dividend Reinvestment Plan that meets the Rule 16a-11 reporting exemption.
• Shares owned after the transaction: not specified in the provided extract.

Context

• This was a tax-withholding event (code F) following vesting of restricted stock—not a directional buy or sell in the open market. Such withholdings are routine and reflect tax obligations rather than a statement of confidence or lack thereof.
• For investors tracking insider activity, purchases and open-market sales are generally more informative about sentiment; tax-related withholdings are administrative.