<SEC-DOCUMENT>0001209191-23-020133.txt : 20230320
<SEC-HEADER>0001209191-23-020133.hdr.sgml : 20230320
<ACCEPTANCE-DATETIME>20230320201101
ACCESSION NUMBER:		0001209191-23-020133
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230316
FILED AS OF DATE:		20230320
DATE AS OF CHANGE:		20230320

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Kafka Donald
		CENTRAL INDEX KEY:			0001631334

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14793
		FILM NUMBER:		23747615

	MAIL ADDRESS:	
		STREET 1:		PO BOX 9146
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00908

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST BANCORP /PR/
		CENTRAL INDEX KEY:			0001057706
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				660561882
		STATE OF INCORPORATION:			PR
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1519 PONCE DE LEON AVE
		STREET 2:		SANTURCE
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00908-0146
		BUSINESS PHONE:		7877298200

	MAIL ADDRESS:	
		STREET 1:		1519 PONCE DE LEON AVE
		STREET 2:		PO BOX 9146
		CITY:			SAN JUAN
		STATE:			PR
		ZIP:			00908-0146
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>FORM 4 SUBMISSION
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            <rptOwnerZipCode>00908</rptOwnerZipCode>
            <rptOwnerStateDescription>PUERTO RICO</rptOwnerStateDescription>
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    <footnotes>
        <footnote id="F1">Shares of restricted stock issued pursuant to the First BanCorp Omnibus Incentive Plan, as amended. The shares shall fully vest solely on the basis of the passage of time over a three-year period, with 50% vesting on year two or March 16, 2025 and the remaining 50% vesting on year three or March 16, 2026.</footnote>
        <footnote id="F2">Performance Share Units granted as a performance award, vesting based upon degree of achievement of performance goal. Each Performance Share Units represents a contingent right to receive one share of FBP common stock. At the end of the performance period, 50% of the award is paid for threshold-level performance up to 100% for target-level performance, in FBP common stock free of restriction. Amounts between threshold and target level performance are interpolated to reward incremental achievement and no amounts are paid if actual results of the performance goal are below threshold-level performance.</footnote>
        <footnote id="F3">Performance Share Units that vested based on the achievement of the performance goal at a level resulting in 100% of target, pursuant to a grant of Performance Share Units award made on March 18, 2020.</footnote>
        <footnote id="F4">Shares withheld to cover taxes related to the Performance Share Units that vested on March 18, 2023 pursuant to the terms of the long-term incentive award made on March 18, 2020.</footnote>
        <footnote id="F5">Shares withheld to cover taxes related to a restricted stock that vested on March 18, 2023 pursuant to the terms of the restricted stock award made on March 18, 2020.</footnote>
        <footnote id="F6">Performance Share Units granted as a performance award, vesting based upon degree of achievement of performance goal. Each Performance Share Units represents a contingent right to receive one share of FBP common stock. At the end of the performance period, 50% of the award is paid for threshold-level performance up to 150% for maximum level performance, in FBP common stock free of restriction. Amounts between threshold, target, and maximum level performance are interpolated to reward incremental achievement and no amounts are paid if actual results of the performance goal are below threshold-level performance.</footnote>
        <footnote id="F7">The amount of 33,790 Performance Share Units were granted as a performance award with 12,211 shares granted on March 31, 2021, 10,456 shares granted on March 24, 2022, and 11,123 shares granted on March 16, 2023, and vest upon the degree of achievement of performance goals. Each Performance Share Unit represents a contingent right to receive one share of FBP common stock.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Donald Kafka</signatureName>
        <signatureDate>2023-03-20</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
