Jose Rafael Fernandez - 24 Jul 2023 Form 4 Insider Report for OFG BANCORP (OFG)

Role: CEO & Vice Chairperson BOD, Director
Signature: /s/ Hugh Gonzalez, Attorney-in-Fact for FERNANDEZ JOSE RAFAEL
Issuer symbol: OFG
Transactions as of: 24 Jul 2023
Net transactions value: -$252,136
Form type: 4
Filing time: 26 Jul 2023, 17:09:17 UTC
Previous filing: 09 Jun 2023
Next filing: 02 Aug 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	OFG	Common Stock	Options Exercise	$807,472	+46,300	+11%	$17.44	485,334	24 Jul 2023	Direct
transaction	OFG	Common Stock	Tax liability	$807,465	-23,996	-4.9%	$33.65	461,338	24 Jul 2023	Direct	F1
transaction	OFG	Common Stock	Sale	$252,143	-7,472	-100%	$33.74	0	25 Jul 2023	by Defined Contribution Plan (401k)
transaction	OFG	Common Stock	Gift	$0	-2,950	-0.64%	$0.000000	458,388	26 Jul 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	Qualified Stock Option	Options Exercise		-46,300	-100%		0	24 Jul 2023	Common Stock	46,300	$17.44	Direct	F2, F3

* 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.
F2	The executive is exercising a derivative security.
F3	The Award became exercisable at the rate of 25% per year commencing on February 24, 2017.