secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /PR/ (FBP)
CIK:        0001057706
Form:       8-K
Filed at:   2022-03-30T23:59:59+00:00
Accession:  0001140361-22-011754
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1057706/000114036122011754/0001140361-22-011754-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1057706/000114036122011754/brhc10035850_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-011754

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer