{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-23-012850","form_type":"8-K","ticker":"FBP","cik":"0001057706","company_name":"FIRST BANCORP /PR/","filed_at":"2023-03-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:43.689315+00:00","generated_at":"2026-06-17T21:00:29.082531+00:00","sec_items":["5.02"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"First BanCorp boosts CEO base salary & revamps incentive metrics for NEOs","bullets":["CEO Aurelio Alemán base salary increased to $1,040,000 from $1,000,000, effective April 1, 2023.","Short-term incentive metrics for NEOs changed to EPS, Pre-Tax Pre-Provision Income, Non-Performing Asset Ratio, and Efficiency Ratio.","CEO short-term target opportunity raised to 115% of base salary; effective for 2023 performance paid in 2024.","Long-term incentive max payout raised to 150% of target; vesting 50% on TSR vs KBW Regional Bank Index and 50% on tangible book value per share goal.","Long-term target opportunities increased: CEO to 165%, CFO to 90%, CRO to 80%, Business Group Executive to 70% of base salary."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-23-012850","json":"https://secwatch.observer/filing/0001140361-23-012850.json","markdown":"https://secwatch.observer/filing/0001140361-23-012850.md","text":"https://secwatch.observer/filing/0001140361-23-012850.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1057706/000114036123012850/0001140361-23-012850-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1057706/000114036123012850/brhc10050089_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T21:00:29.082531+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}