Home > Insider Trading > Filing (0000899243-17-003268)

Filing Details

Accession Number:: 0000899243-17-003268
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2017-02-09 16:56:51
Reporting Period:: 2017-02-07

Filing Date:: 2017-02-09
Accepted Time:: 2017-02-09 16:56:51
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1057706	First Bancorp	FBP	State Commercial Banks (6022)	660561882

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1402746	Oaktree Fund Gp I, L.p.	C/O Oaktree Capital Management, L.p. 333 South Grand Avenue, 28Th Floor Los Angeles CA 90071	Yes	No	Yes	No
1403525	Oaktree Capital Group Holdings Gp, Llc	C/O Oaktree Capital Management, L.p. 333 South Grand Avenue, 28Th Floor Los Angeles CA 90071	Yes	No	Yes	No
1403527	Oaktree Capital Group Holdings, L.p.	C/O Oaktree Capital Management, L.p. 333 South Grand Avenue, 28Th Floor Los Angeles CA 90071	Yes	No	Yes	No
1403528	Oaktree Capital Group, Llc	C/O Oaktree Capital Management, L.p. 333 South Grand Avenue, 28Th Floor Los Angeles CA 90071	Yes	No	Yes	No
1403530	Oaktree Capital I, L.p.	C/O Oaktree Capital Management, L.p. 333 South Grand Avenue, 28Th Floor Los Angeles CA 90071	Yes	No	Yes	No
1407178	Ocm Holdings I, Llc	C/O Oaktree Capital Management, L.p. 333 South Grand Avenue, 28Th Floor Los Angeles CA 90071	Yes	No	Yes	No
1407181	Oaktree Holdings, Llc	C/O Oaktree Capital Management, L.p. 333 South Grand Avenue, 28Th Floor Los Angeles CA 90071	Yes	No	Yes	No
1498954	Ocm Fie, Llc	C/O Oaktree Capital Management, L.p. 333 South Grand Avenue, 28Th Floor Los Angeles CA 90071	Yes	No	Yes	No
1499005	Oaktree Fund Gp, Llc	C/O Oaktree Capital Management, L.p. 333 South Grand Avenue, 28Th Floor Los Angeles CA 90071	Yes	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $0.10 Per Share	Disposition	2017-02-07	11,500,000	$6.36	20,051,733	No	4	S	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnotes

Footnotes

On February 7, 2017, Oaktree Principal Fund V (Delaware), L.P. (the "PF V Fund") sold 9,513,950 shares of Common Stock of the Issuer and Oaktree FF Investment Fund AIF (Delaware), L.P. (the "AIF Fund") sold 1,986,050 shares of Common Stock of the Issuer pursuant to the Underwriting Agreement, dated as of February 1, 2017, among Citigroup Global Markets Inc., UBS Securities LLC, the Issuer and the selling stockholders named therein, including the PF V Fund and the AIF Fund (the "Sale").
After giving effect to the Sale, the PF V Fund holds 16,540,689 shares of Common Stock of the Issuer and the AIF Fund holds 3,452,892 shares of Common Stock of the Issuer. Michael P. Harmon, a Managing Director of Oaktree Capital Management, L.P. ("OCM") and a director of First BanCorp., also holds 58,152 shares of Common Stock and restricted stock for the benefit of OCM FIE, LLC ("FIE"). Pursuant to the policies of the Reporting Persons (defined below), Mr. Harmon must hold the shares on behalf of and for the benefit of FIE and has assigned all economic, pecuniary and voting rights to FIE.
This Form 4 is being filed by (i) the PF V Fund, (ii) the AIF Fund, (iii) Oaktree Capital Group Holdings GP, LLC ("OCGH GP"), in its capacities as manager of Oaktree Capital Group, LLC ("OCG") and general partner of Oaktree Capital Group Holdings, L.P. ("OCGH LP"), (iv) OCG, in its capacities as managing member of Oaktree Holdings, LLC ("Oaktree Holdings") and sole stockholder of Oaktree Holdings, Inc. ("Holdings"), (v) Oaktree Holdings, in its capacity as managing member of OCM Holdings I, LLC ("Oaktree Holdings I"), (vi) Oaktree Holdings I, in its capacity as general partner of Oaktree Capital I, L.P. ("Oaktree Capital I"), (vii) Oaktree Capital I, in its capacity as general partner of Oaktree Fund GP I, L.P. ("Oaktree Fund GP I"), (viii) Oaktree Fund GP I, in its capacity as managing member of Oaktree Fund GP, LLC ("Oaktree Fund GP"), (ix) Oaktree Fund GP, in its capacity as general partner of the PF V Fund,
(Continued from Footnote 3) (x) OCGH LP in its capacity as controlling shareholder of Oaktree AIF Holdings, Inc. ("Oaktree AIF Holdings"), (xi) Oaktree AIF Holdings, in its capacity as general partner of Oaktree AIF Investments, L.P. ("Oaktree AIF Investments"), (xii) Oaktree AIF Investments, in its capacity as general partner of Oaktree Fund GP III, L.P. ("Oaktree GP III"), (xiii) Oaktree GP III, in its capacity as the managing member of Oaktree Fund GP AIF, LLC ("Oaktree GP AIF"), (xiv) Oaktree GP AIF, in its capacity as general partner of Oaktree Fund AIF Series, L.P. - Series I ("Oaktree AIF" and, collectively with the PF Fund, the AIF Fund, OCGH GP, OCGH LP, OCG, Oaktree Holdings, Oaktree Holdings I, Oaktree Capital I, Oaktree Fund GP I, Oaktree Fund GP, Oaktree AIF Holdings, Oaktree AIF Investments, Oaktree GP III, Oaktree GP AIF, Oaktree AIF, FIE and Holdings, the "Reporting Persons" and each, a "Reporting Person"),
(Continued from Footnote 4) (xv) Oaktree AIF, in its capacity as general partner of the AIF Fund, (xvi) FIE, (xvii) OCM, in its capacity as the managing member of FIE, and (xviii) Holdings, in its capacity as the general partner of OCM.
OCGH GP may be deemed to have a beneficial ownership interest in the 20,051,733 shares of Common Stock that are held and collectively owned by the PF V Fund, the AIF Fund and Mr. Harmon. Each of OCG, Oaktree Holdings, Oaktree Holdings I, Oaktree Capital I, Oaktree Fund GP I and Oaktree Fund GP may be deemed to have a beneficial ownership interest in the 16,598,841 shares of Common Stock that are held and collectively owned by the PF V Fund and Mr. Harmon. Each of OCG, Holdings, OCM and FIE may be deemed to have a beneficial ownership interest in the 58,152 shares of Common Stock that are held by Mr. Harmon. Each of OCGH LP, Oaktree AIF Holdings, Oaktree AIF Investments, Oaktree GP III, Oaktree GP AIF and Oaktree AIF may be deemed to have a beneficial ownership interest in the 3,452,892 shares of Common Stock that are held by the AIF Fund.
(Continued from Footnote 6) Information with respect to each Reporting Person is given solely by such Reporting Person, and no such Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person. Each Reporting Person disclaims beneficial ownership of all shares reported herein except to the extent of their respective pecuniary interest therein and the filing of this Form 4 shall not be construed as an admission that any such Reporting Person is the beneficial owner of any shares covered by this Form 4.
The Reporting Persons may be deemed directors by deputization by virtue of their right to designate a representative to be nominated by the Issuer to serve on the Issuer's board of directors.
OCGH GP is a limited liability company managed by an executive committee, the members of which are Howard S. Marks, Bruce A. Karsh, Jay S. Wintrob, John B. Frank, David M. Kirchheimer and Sheldon M. Stone (the "OCGH GP Members"). In such capacity, the OCGH GP Members may be deemed indirect beneficial owners of the securities reported herein. Except to the extent of their respective pecuniary interest, each OCGH GP Member disclaims beneficial ownership of the securities reported herein and the filing of this Form 4 shall not be construed as an admission that any such person is the beneficial owner of any securities covered by this Form 4.