---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-027163"
form_type: "8-K/A"
ticker: "FBP"
cik: "0001057706"
company_name: "FIRST BANCORP /PR/"
filed_at: "2026-07-01T17:58:08+00:00"
generated_at: "2026-07-01T17:59:20.347949+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# First BanCorp names Said Ortiz CFO; Berges to consult at $300/hr through Dec 2026

## Summary
- Berges retired as EVP/CFO; consulting with FirstBank Puerto Rico at $300/hr through Dec 31, 2026.
- Said Ortiz appointed EVP/CFO effective July 1, 2026; base salary $475,000 plus annual bonus opportunity.
- Berges' consulting covers financial, accounting, strategic, regulatory matters; 6-month non-compete.
- Ortiz severance: 2x salary plus 2x avg bonus if terminated without cause within 2 years after change of control.

## SEC filing metadata
- accession: 0001140361-26-027163
- form_type: 8-K/A
- ticker: FBP
- cik: 0001057706
- company_name: FIRST BANCORP /PR/
- filed_at: 2026-07-01T17:58:08+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1057706/000114036126027163/0001140361-26-027163-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1057706/000114036126027163/ef20077224_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-027163
- JSON: https://secwatch.observer/filing/0001140361-26-027163.json
- Plain text: https://secwatch.observer/filing/0001140361-26-027163.txt

## Key facts
- Executive change
  Orlando Berges retired as Executive Vice President and Chief Financial Officer at FIRST BANCORP /PR/.
  - Action: retired
  - Role: Executive Vice President and Chief Financial Officer
  source text: In connection with his retirement, on June 30, 2026, Mr. Berges and FirstBank Puerto Rico, a subsidiary of the Corporation entered into a Professional Services Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1057706/000114036126027163/0001140361-26-027163-index.htm
- Executive change
  Said Ortiz was appointed as Executive Vice President and Chief Financial Officer at FIRST BANCORP /PR/.
  - Action: appointed
  - Role: Executive Vice President and Chief Financial Officer
  source text: In connection with Mr. Ortiz’s appointment as Executive Vice President and Chief Financial Officer, the Corporation entered into a one-year employment agreement (the “Agreement”) effective July 1, 2026 with Mr. Ortiz.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1057706/000114036126027163/0001140361-26-027163-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.