First BanCorp discloses terms of consulting agreement with former EVP Pancham

FIRST BANCORP /PR/

Hourly fee of $250; minimum 20 hours/month, maximum 40 hours/month without prior approval.
Agreement term from May 16, 2025 through December 31, 2025; renewable by mutual agreement.
Consulting services focus on mortgage, insurance, and FirstBank Puerto Rico's Virgin Islands operations.
Non-compete and non-solicitation covenants apply for 12 months after termination of the agreement.
This amendment to the prior 8-K on Pancham's retirement provides the consulting terms not previously disclosed.

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