secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /PR/ (FBP)
CIK:        0001057706
Form:       8-K
Filed at:   2026-05-12T19:44:00+00:00
Accession:  0001140361-26-020795
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FBP shareholders approve 2026 Omnibus Incentive Plan; all nine directors elected
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- Stockholders approved the 2026 Omnibus Incentive Plan with 5M new shares authorized plus forfeited prior-plan shares.
- All nine director nominees elected; Roberto R. Herencia received 36.1M against votes (26.7% of votes cast).
- Non-binding say-on-pay passed with ~97% of votes cast in favor.
- Ratification of Crowe LLP as independent auditor for FY 2026 approved with ~99% of votes cast.
- Plan caps non-employee director annual grant value plus cash fees at $1M and requires minimum one-year vesting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1057706/000114036126020795/0001140361-26-020795-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1057706/000114036126020795/ef20073187_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-020795

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