---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-011754"
form_type: "8-K"
ticker: "FBP"
cik: "0001057706"
company_name: "FIRST BANCORP /PR/"
filed_at: "2022-03-30T23:59:59+00:00"
generated_at: "2026-06-26T13:04:26.638622+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-22-011754
- form_type: 8-K
- ticker: FBP
- cik: 0001057706
- company_name: FIRST BANCORP /PR/
- filed_at: 2022-03-30T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1057706/000114036122011754/0001140361-22-011754-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1057706/000114036122011754/brhc10035850_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-011754
- JSON: https://secwatch.observer/filing/0001140361-22-011754.json
- Plain text: https://secwatch.observer/filing/0001140361-22-011754.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.