First BanCorp approves CEO salary increase and higher incentive targets for 2025

FIRST BANCORP /PR/

Base salary for CEO Aurelio Alemán raised 3.5% to $1,117,800, effective April 1, 2025.
Short-term incentive target increased from 115% to 125% of base salary, effective for FY 2025 payout in 2026.
Long-term incentive target increased from 200% to 215% of base salary, effective for award in 2026.

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