First BanCorp (FBP) Proxy Filing summary

Executive summary

• Annual meeting scheduled for May 21, 2025, with virtual participation available for shareholders.

• Shareholders are encouraged to review proxy materials and vote by May 20, 2025.

Voting matters and shareholder proposals

• Election of nine directors is proposed, with all nominees recommended by the board.

• Advisory vote on 2024 executive compensation for named executive officers.

• Ratification of Crowe LLP as independent registered public accounting firm for fiscal year 2025.

• Proxies may vote on other business arising at the meeting or any adjournments.

Board of directors and corporate governance

• Board recommends all director nominees for election at the annual meeting.

• Director nominees include Juan Acosta Reboyras, Aurelio Alemán, Luz A. Crespo, Tracey Dedrick, Patricia M. Eaves, Daniel E. Frye, John A. Heffern, Roberto R. Herencia, and Félix M. Villamil.