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AI brief of an SEC Form 8-K · First BanCorp (Puerto Rico) (FBP)

First BanCorp raises CEO Aurelio Alemán's base salary 3.5% and boosts incentive targets

Neutral Impact 2 of 5 leadership Written later

On March 19, 2025, First BanCorp's board approved a 3.5% increase in CEO Aurelio Alemán's annual base salary and higher target incentive opportunities. The changes followed the board's annual executive pay review, with guidance from its outside compensation consultant. Because the filing describes the changes only as compensation adjustments, shareholders can see the new pay levels but not a stated financial effect.

Key points

  • Base salary rises 3.5%, from $1,080,000 to $1,117,800, effective April 1, 2025
  • Short-term incentive target rises from 115% to 125% of base salary, for fiscal 2025 performance paid in 2026
  • Long-term incentive target rises from 200% to 215% of base salary, for awards made in 2026

The filing

CompanyFirst BanCorp (Puerto Rico) (FBP)
Form8-K, current report
Filed with the SECMar 25, 2025, 4:55 PM ET
Accession number0001140361-25-010259

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 25, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.