Kumar Ganesh - Feb 27, 2023 Form 4 Insider Report for OFG BANCORP (OFG)

Role
Chief Operating Officer
Signature
/s /Nilda M. Vazquez-Rodriguez, Attorney-in-Fact for Kumar Ganesh
Stock symbol
OFG
Transactions as of
Feb 27, 2023
Transactions value $
-$497,120
Form type
4
Date filed
3/1/2023, 04:49 PM
Previous filing
Feb 24, 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 +3.33K +2.15% 159K Feb 27, 2023 Direct F1
transaction OFG Common Stock Options Exercise +6.48K +4.09% 165K Feb 27, 2023 Direct F1
transaction OFG Common Stock Options Exercise +4.22K +2.55% 169K Feb 27, 2023 Direct F1
transaction OFG Common Stock Options Exercise +15K +8.86% 184K Feb 27, 2023 Direct F1, F2
transaction OFG Common Stock Tax liability -$34.7K -1.18K -0.64% $29.42 183K Feb 27, 2023 Direct F3
transaction OFG Common Stock Tax liability -$68.1K -2.29K -1.25% $29.70 181K Feb 27, 2023 Direct F3
transaction OFG Common Stock Tax liability -$44.3K -1.49K -0.82% $29.70 179K Feb 27, 2023 Direct F3
transaction OFG Common Stock Tax liability -$156K -5.3K -2.96% $29.42 174K Feb 27, 2023 Direct F3
transaction OFG Common Stock Sale -$194K -6.47K -3.72% $30.00 168K Feb 27, 2023 Direct

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 -3.33K -11.52% 25.6K Feb 27, 2023 Common Stock 3.33K Direct F1, F4, F5
transaction OFG Restricted Units Options Exercise -6.48K -25.31% 19.1K Feb 27, 2023 Common Stock 6.48K Direct F1, F5, F6
transaction OFG Restricted Units Options Exercise -4.22K -22.03% 14.9K Feb 27, 2023 Common Stock 4.22K Direct F1, F5, F7
* 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 February 18, 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 Shares Units and Restricted Units for payment of applicable taxes.
F4 Awarded pursuant to the Plan. They represent 34% of a grant of Restricted Units ("RUs") of February 18, 2020.
F5 The Restricted Units convert to Common Stock on a one-for-one basis.
F6 Awarded pursuant to the Plan. They represent 33% of a grant of Restricted Units ("RUs") of February 17, 2021.
F7 Awarded pursuant to the Plan. They represent 33% of a grant of Restricted Units ("RUs") of February 22, 2022.