First BanCorp boosts CEO, CFO, and CRO compensation targets effective April 2022

FIRST BANCORP /PR/

CEO base salary increased to $1,000,000; CRO base salary increased to $500,000 effective April 1, 2022.
CEO short-term incentive target raised to 100% of base salary for 2022 performance.
CEO long-term incentive target set at 145% of base salary; CFO and CRO LTI targets set at 70%.
Adjustments approved March 24, 2022; no other compensation terms changed.

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