Diaz-Bento Lilian 4

4 · FIRST BANCORP /PR/ · Filed Mar 23, 2026

AI-generated summary of this filing

Updated Mar 23, 2026

First BanCorp (FBP) EVP Lilian Diaz‑Bento Receives Stock Award

What Happened

Lilian Diaz‑Bento, EVP of First BanCorp (FBP), was granted 9,689 restricted shares on 2026-03-19 valued at $20.59 each (total ~$199,497). The filing also shows a grant of 9,689 Performance Share Units (PSUs) on 2026-03-19 (reported as derivative units at $0). Separately, 853 shares were withheld on 2026-03-21 to cover taxes related to restricted stock that vested, disposed at $20.57 each (total ~$17,546).
The grants are company compensation (awards), not open‑market purchases; the withholding is a routine disposition to satisfy tax obligations.

Key Details

Transaction dates & amounts:
- 2026-03-19: Award (A) — 9,689 restricted shares @ $20.59 = $199,497.
- 2026-03-19: Award (A, derivative) — 9,689 Performance Share Units @ $0 (contingent).
- 2026-03-21: Tax withholding (F) — 853 shares @ $20.57 = $17,546 (disposed).
Shares owned after transaction: Not specified in the provided filing excerpt.
Relevant footnotes:
- F1: Restricted stock vests solely by time over three years — 50% on Mar 19, 2028 and 50% on Mar 19, 2029.
- F2: The 853 shares withheld relate to restricted stock that vested on Mar 21, 2026 from a Mar 21, 2024 award.
- F3/F4: PSUs are performance‑based (each unit = right to one share); payout ranges from 0% to 150% depending on performance. The 9,689 PSU tranche is the 2026 portion of a multi‑year award totaling 28,984 PSUs.
Transaction codes: A = Award/Grant, F = Tax withholding/disposition.
Filing timing: Report filed 2026-03-23 covering transactions through 2026-03-21; this appears to be within the standard Form 4 reporting window.

Context

PSUs are contingent awards that convert to shares only if performance goals are met (may pay between 0% and 150% of target). Restricted shares are time‑based and will not be freely tradable until they vest per the schedule above.
Withholding of shares for taxes is a routine disposition and does not necessarily indicate the insider’s market view. Grants indicate company compensation rather than an insider purchase signal.

Form 4

Period: 2026-03-19

EVP

Transactions

Award
First BanCorp Common Stock, par value $0.10 per share
[F1]
2026-03-19$20.59/sh+9,689$199,497→ 65,228 total
Tax Payment
First BanCorp Common Stock, par value $0.10 per share
[F2]
2026-03-21$20.57/sh−853$17,546→ 64,375 total
Award
Performance Share Unit
[F3][F4]
2026-03-19+9,689→ 28,984 total
Exp: 2029-03-19→ Common Stock (9,689 underlying)

Footnotes (4)

[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 19, 2028, and the remaining 50% vesting on year three or March 19, 2029.
[F2]Shares withheld to cover taxes related to restricted stock that vested on March 21, 2026 pursuant to the terms of the restricted stock award made on March 21, 2024.
[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.
[F4]The amount of 28,984 Performance Share Units were granted as a performance award with 9,823 shares granted on March 21, 2024, 9,472 shares granted on March 19, 2025, and 9,689 shares granted on March 19, 2026 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.

Signature

/s/ Adolfo Sepulveda, Es., Attorney-in-Fact|2026-03-23

1 file