Ortiz Cesar A - Jan 26, 2022 Form 4 Insider Report for OFG BANCORP (OFG)

Role
Managing Director Corp Perform
Signature
/s/ Cesar A. Ortiz
Stock symbol
OFG
Transactions as of
Jan 26, 2022
Transactions value $
$9
Form type
4
Date filed
1/28/2022, 04:13 PM
Next filing
Mar 2, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OFG Common Stock Options Exercise $96.6K +6K $16.10 6K Jan 26, 2022 Direct
transaction OFG Common Stock Tax liability -$96.6K -3.48K -57.95% $27.78 2.52K Jan 26, 2022 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction OFG Qualified Stock Options Options Exercise -6K -100% 0 Jan 26, 2022 Common Stock 6K $16.10 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents a "net exercise" of outstanding stock options. The reporting person received 2,523 shares of Common Stock on net exercise of option to purchase 6,000 shares of Common Stock. The Issuer withheld 3,477 shares of Common Stock underlying the option for payment of the exercise price, using the closing stock price on January 25, 2022.
F2 Awarded pursuant to the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. These options represented a right to buy the underlying securities.
F3 The executive is exercising a derivative security.
F4 The Award became exercisable at the rate of 25% per year commencing on February 27, 2016.