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OFG Bancorp (NYSE: OFG) executive reports equity vesting and tax withholding

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

OFG Bancorp managing director of commercial banking Patrick J. Haggarty reported routine equity compensation activity. On March 10, 2026, 717 Restricted Units were converted into 717 shares of Common Stock, reflecting the vesting of part of a prior equity grant.

These units were awarded under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan and represent 33% of a Restricted Unit grant from February 23, 2024. Of the vested shares, 175 were withheld at $41.39 per share to cover applicable taxes, a non-market, tax-withholding disposition.

Following these transactions, Haggarty directly holds 30,259 shares of Common Stock and 2,037 Restricted Units, which convert to Common Stock on a one-for-one basis. The activity reflects standard compensation and tax treatment rather than open-market buying or selling.

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  • None.

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Insider Haggarty Patrick J.
Role Managing Director Comm. Bankin
Type Security Shares Price Value
Exercise Restricted Units 717 $0.00 $0.00
Grant/Award Common Stock 717 $0.00 $0.00
Exercise Price or Tax Liability Common Stock 175 $41.39 $7K
Holdings After Transaction: Restricted Units — 2,037 shares (Direct); Common Stock — 30,259 shares (Direct)
Footnotes (4)
  1. F1. Not applicable.
  2. F2. Represents shares of Common Stock withheld against Restricted Units for payment of applicable taxes.
  3. F3. Awarded pursuant to the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. They represent 33% of a grant of Restricted Units of February 23, 2024.
  4. F4. The Restricted Units convert to Common Stock on a one-for-one basis.

FAQ

What insider transactions did OFG Bancorp (OFG) report for Patrick J. Haggarty?
OFG Bancorp reported that Patrick J. Haggarty had 717 Restricted Units convert into 717 Common Stock shares. These arose from a prior equity grant, with part of the resulting shares then withheld to satisfy tax obligations rather than sold in the open market.

How many OFG Bancorp shares were withheld for taxes in this Form 4?
The filing shows 175 OFG Bancorp Common Stock shares were withheld at $41.39 per share. This tax-withholding disposition covered obligations arising from the vesting of Restricted Units and does not represent a discretionary sale into the market.

What equity award did Patrick J. Haggarty receive from OFG Bancorp (OFG)?
Haggarty’s transactions relate to Restricted Units awarded under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. The vested portion represents 33% of a Restricted Unit grant dated February 23, 2024, which converts into Common Stock one-for-one.

How many OFG Bancorp shares does Patrick J. Haggarty hold after these transactions?
After the reported activity, Haggarty directly holds 30,259 OFG Bancorp Common Stock shares. He also holds 2,037 Restricted Units, which, according to the filing, convert into Common Stock on a one-for-one basis when they vest in the future.

Does this OFG Bancorp Form 4 show open-market buying or selling by the insider?
The Form 4 does not show open-market buying or selling. It reflects vesting and conversion of Restricted Units into Common Stock, plus 175 shares withheld for taxes. These are routine compensation and tax events rather than discretionary market trades.

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Haggarty Patrick J.
(Last) (First) (Middle)
P.O. BOX 195115
(Street)
SAN JUAN PR 00919-5115
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
OFG BANCORP [ OFG ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Managing Director Comm. Bankin
3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/10/2026 A 717 A (1) 30,434 D
Common Stock 03/10/2026 F 175(2) D $41.39 30,259 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Units(3) (4) 03/10/2026 M 717 (1) (1) Common Stock 717 (1) 2,037 D
Explanation of Responses:
1. Not applicable.
2. Represents shares of Common Stock withheld against Restricted Units for payment of applicable taxes.
3. Awarded pursuant to the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. They represent 33% of a grant of Restricted Units of February 23, 2024.
4. The Restricted Units convert to Common Stock on a one-for-one basis.
Remarks:
/s /Nilda M. Vazquez-Rodriguez, Attorney-in-Fact for Haggarty Patrick J. 03/12/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR