ALEMAN AURELIO 4

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

AI-generated summary of this filing

Updated Mar 23, 2026

First BanCorp (FBP) CEO Aleman Receives 58,318-Share Award

What Happened

Aurelio Aleman, President, CEO and Director of First BanCorp (FBP), received a grant on March 19, 2026 of 58,318 shares of restricted stock valued at $20.59 each (total $1,200,768). On the same date he was also granted 58,318 Performance Share Units (PSUs), a contingent award that can convert to common shares depending on performance. Separately, on March 21, 2026, 12,693 shares were withheld to cover taxes related to restricted stock that vested that day (12,693 shares withheld at $20.57, ~$261,095).

Key Details

Transaction types: A = Award/Grant (restricted stock and PSUs); F = shares withheld for taxes.
Dates and prices: 3/19/2026 — 58,318 restricted shares at $20.59 ($1,200,768) and 58,318 PSUs at $0.00 (derivative/contingent); 3/21/2026 — 12,693 shares withheld at $20.57 (~$261,095).
Vesting/terms: Restricted stock vests over three years (50% on year two — March 19, 2028 — and 50% on year three — March 19, 2029). PSUs pay out 0%–150% of target based on performance, with 50% payout at threshold and interpolation between levels; no payout below threshold. The 58,318 PSUs are part of a broader 177,115-PSU award granted across 2024–2026.
Shares owned after the transactions are not specified in this Form 4.
Filing: Form 4 was filed on 2026-03-23 for reportable transactions dated 3/19 and 3/21; the filing appears to have been submitted within the normal SEC two-business-day window.

Context

The restricted stock grant is a standard time-based award (not an open-market purchase) and typically aligns executive compensation with shareholder value over multiple years. The PSUs are performance-based and will only convert to shares depending on achievement of company goals. The withheld shares on 3/21 were a routine tax-withholding action tied to restricted stock vesting and do not indicate an open-market sale by the insider.

Form 4

Period: 2026-03-19

DirectorPresident and CEO

Transactions

Award
First BanCorp Common Stock, par value $0.10 per share
[F1]
2026-03-19$20.59/sh+58,318$1,200,768→ 1,143,168 total
Tax Payment
First BanCorp Common Stock, par value $0.10 per share
[F2]
2026-03-21$20.57/sh−12,693$261,095→ 1,130,475 total
Award
Performance Share Unit
[F3][F4]
2026-03-19+58,318→ 177,115 total
Exp: 2029-03-19→ Common Stock (58,318 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 177,115 Performance Share Units were granted as a performance award with 59,942 shares granted on March 21, 2024, 58,855 shares granted on March 19, 2025, and 58,318 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

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