secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /PR/ (FBP)
CIK:        0001057706
Form:       8-K/A
Filed at:   2026-07-01T17:58:08+00:00
Accession:  0001140361-26-027163
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1057706/000114036126027163/0001140361-26-027163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1057706/000114036126027163/ef20077224_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-027163

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