Kumar Ganesh - Jul 24, 2023 Form 4 Insider Report for OFG BANCORP (OFG)

Role
Chief Strategy Officer, US
Signature
/s/ Hugh Gonzalez, Attorney-in-Fact for Kumar Ganesh
Stock symbol
OFG
Transactions as of
Jul 24, 2023
Transactions value $
-$1,470,715
Form type
4
Date filed
7/26/2023, 05:19 PM
Previous filing
Mar 21, 2023
Next filing
Aug 3, 2023
This filing has been restated, see here for the amended filing

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OFG Common Stock Sale -$1.21M -35.6K -23.03% $33.87 119K Jul 24, 2023 Direct
transaction OFG Common Stock Options Exercise $405K +23.2K +19.48% $17.44 142K Jul 25, 2023 Direct
transaction OFG Common Stock Options Exercise $356K +22.1K +15.53% $16.10 164K Jul 25, 2023 Direct
transaction OFG Common Stock Tax liability -$760K -22.5K -13.68% $33.82 142K Jul 25, 2023 Direct F1
transaction OFG Common Stock Sale -$264K -7.81K -100% $33.75 0 Jul 25, 2023 by Defined Contribution Plan (401k)

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 -23.2K -51.21% 22.1K Jul 25, 2023 Common Stock 23.2K $17.44 Direct F2, F3
transaction OFG Qualified Stock Option Options Exercise -22.1K -100% 0 Jul 25, 2023 Common Stock 22.1K $16.10 Direct F2, 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.
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.
F4 The Award became exercisable at the rate of 25% per year commencing on February 27, 2016.