Sundar PichaiSundar Pichai earned $164M in 2023
F

Orlando Berges-Gonzalez

CEO of First BanCorp

Education

None

Field of Expertise

Finance & Banking - Finance

Born

January 1, 1970 - 55 years ago

Economy Sector

Financial Services

Current Tenure

3 years 4 months (Oct 2021 - Present)

Previous Experience

Executive Vice President and Chief Financial Officer

Orlando Berges-Gonzalez is the Executive Vice President and Chief Financial Officer of First BanCorp, a position he has held since 2009. With over 30 years of experience in finance and administration, Orlando knows the banking industry well. Before joining First...

Year

2023

Total Compensation

$1.27M

Salary

$600.00K

Board Justification

The compensation philosophy is performance-oriented, designed to support corporate strategic goals, including improved profitability and stockholder value appreciation. It aims to pay for short- and long-term performance using both financial and non-financial measures.

Bonus

$1.20K

Board Justification

The bonus is a Christmas bonus, which is a non-discriminatory broad-based benefit offered to all employees, equal to six percent (6%) of each employee’s base salary up to $1,200.

Other

$13.96K

Board Justification

Other compensation includes company-owned vehicles, 1165(e) plan contributions, and life insurance premiums paid by the Corporation in excess of the standard coverage.

Restricted Stock

$655.06K(58.61K Restricted Stock)

Board Justification

The vested stock includes restricted stock awarded on March 31, 2021, which vested in 2023, and performance shares awarded on March 18, 2020, which also vested in 2023.

Performance Metrics

The performance metrics include corporate profitability measures such as Adjusted Earnings Per Share and Pre-tax, Pre-Provision Income, as well as asset quality and operating efficiency metrics.