First BanCorp Board commits to annual Say-on-Pay votes after shareholder vote

FIRST BANCORP /PR/

Shareholders at May 23, 2024 annual meeting voted for annual Say-on-Pay frequency.
On June 27, 2024, Board decided to hold future Say-on-Pay votes annually.
Decision consistent with stockholder vote and Board's proxy recommendation.
Next required vote on frequency of Say-on-Pay votes will trigger a new review.

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