Fernandez Jose Rafael - Feb 27, 2023 Form 4 Insider Report for OFG BANCORP (OFG)

Role
CEO & Vice Chairperson BOD, Director
Signature
/s /Nilda M. Vazquez-Rodriguez, Attorney-in-Fact for FERNANDEZ JOSE RAFAEL
Stock symbol
OFG
Transactions as of
Feb 27, 2023
Transactions value $
-$859,546
Form type
4
Date filed
3/1/2023, 04:48 PM
Previous filing
Feb 7, 2023
Next filing
Mar 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OFG Common Stock Options Exercise +7.15K +1.81% 402K Feb 27, 2023 Direct F1
transaction OFG Common Stock Options Exercise +9.62K +2.39% 412K Feb 27, 2023 Direct F1
transaction OFG Common Stock Options Exercise +6.75K +1.64% 419K Feb 27, 2023 Direct F1
transaction OFG Common Stock Options Exercise +32.2K +7.68% 451K Feb 27, 2023 Direct F1, F2
transaction OFG Common Stock Tax liability -$110K -3.74K -0.83% $29.42 447K Feb 27, 2023 Direct F3
transaction OFG Common Stock Tax liability -$149K -5.02K -1.12% $29.70 442K Feb 27, 2023 Direct F3
transaction OFG Common Stock Tax liability -$105K -3.53K -0.8% $29.70 439K Feb 27, 2023 Direct F3
transaction OFG Common Stock Tax liability -$495K -16.8K -3.84% $29.42 422K Mar 27, 2023 Direct F3, F4

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 Restricted Units Options Exercise -7.15K -15.33% 39.5K Feb 27, 2023 Common Stock 7.15K Direct F1, F5, F6
transaction OFG Restricted Units Options Exercise -9.62K -24.36% 29.9K Feb 27, 2023 Common Stock 9.62K Direct F1, F6, F7
transaction OFG Restricted Units Options Exercise -6.75K -22.6% 23.1K Feb 27, 2023 Common Stock 6.75K Direct F1, F6, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Not applicable.
F2 Represent shares of Common Stock received upon settlement of a performance share unit award on February18, 2020, under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan (the "Plan").
F3 Represents shares of Common Stock withheld against both Performance Share Units and Restricted Units for payment of applicable taxes.
F4 In addition to the reporting person's direct beneficial ownership of 421,763.688 OFG shares, he also indirectly owns 20,152 OFG shares through a Non-Qualified Deferred Compensation Trust.
F5 Awarded pursuant to the Plan. They represent 34% of a grant of Restricted Units ("RUs") of February 18, 2020.
F6 The Restricted Units convert to Common Stock on a one-for-one basis.
F7 Awarded pursuant to the Plan. They represent 33% of a grant of Restricted Units ("RUs") of February 17, 2021.
F8 Awarded pursuant to the Plan. They represent 33% of a grant of Restricted Units ("RUs") of February 22, 2022.