secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIRST BANCORP /PR/ (FBP)
CIK:        0001057706
Form:       8-K
Filed at:   2025-03-25T23:59:59+00:00
Accession:  0001140361-25-010259
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1057706/000114036125010259/0001140361-25-010259-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1057706/000114036125010259/ef20046105_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-010259

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