First Bancorp (FBP) executive compensation, 2026 proxy

Aurelio Alemán, President and Chief Executive Officer, was paid $5M in 2025, up 5% from $4.8M the year before. The CEO-to-median-employee pay ratio was 127:1, on median employee pay of $39,557.

Filed
March 25, 2026
Annual meeting
May 6, 2026
Pay year
2025
Named executives
5
CEO total pay
$5M+5% vs prior year
CEO to median employee
127:1median $39,557
CEO pay in equity
43%$2.2M in awards
Prior say-on-pay support
90%of votes cast
CEO Target Bonus
$1,396,250Target short-term cash incentive
Net Income
$344.9MCompared to $298.7 million in 2024
Tangible Book Value Per Share
$12.2924% increase compared to 2024
Efficiency Ratio
49.77%Reflects prudent expense management

How Alemán was paid

$5M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary22%Bonus0%Stock awards43%Non-equity incentive33%All other compensation2%

Named executive officers

ExecutiveTotal
Aurelio AlemánPresident and Chief Executive Officer$5,026,356
Orlando BergesExecutive Vice President and Chief Financial Officer$1,572,960
Nayda RiveraExecutive Vice President and Chief Customer Officer and Chief of Staff$1,457,678
Juan C. PavíaExecutive Vice President and Chief Credit Officer$1,259,079
Lilian Díaz-BentoExecutive Vice President and Business Group Director$1,119,664

What changed and why

  • $5MCEO Aurelio Alemán received total compensation of $5,026,356 in 2025, compared to $4,774,195 in 2024.
  • $344.9MNet income increased to $344.9 million in 2025 from $298.7 million in 2024.
  • 24%Tangible book value per share increased by 24% to reach $12.29.
  • The Board approved base salary increases for select named executive officers effective April 1, 2025.
  • 89.57%Stockholders expressed 89.57% support for executive compensation at the 2025 annual meeting.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.