FIRST BANCORP /PR/ — Form 8-K/A
Filed July 1, 2026 · analyzed by the 8-K Agent
8-K/A
— Neutral
significance 28/100
What the filing says
Orlando Berges retired as Executive Vice President and CFO of First BanCorp (subsidiary FirstBank Puerto Rico) effective July 1, 2026. He entered into a Professional Services Agreement as independent contractor from July 1–December 31, 2026 (renewable) at $300/hour, providing financial, accounting, audit, and regulatory advisory services on an as-needed basis. Said Ortiz appointed as replacement EVP/CFO with $475,000 annual base salary plus bonus and severance protections.
Why this rating
Routine CFO succession with transition consulting. Small absolute cost (~$156k maximum for 6-month engagement at full hours) is immaterial relative to $3.2B market cap.
Extracted items
- 5.02 exec change
- 9.01 exhibits
View original filing on SEC.gov ↗
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