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Director at OFG Bancorp (NYSE: OFG) gets 1,500-share award, 150 withheld

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

Rhea-AI Filing Summary

OFG Bancorp director Rafael A. Velez-Dominguez reported equity award activity involving restricted units and common stock. On March 4, 2026, 1,500 restricted units were exercised and converted into 1,500 shares of common stock at a stated price of $0.00 per share.

The 1,500 common shares were awarded under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan and represent 100% of a restricted unit grant dated February 20, 2025. A total of 150 common shares, valued at $42.66 per share, were disposed of to cover applicable tax withholding.

After these transactions, Velez-Dominguez directly owned 11,855 shares of OFG Bancorp common stock.

Positive

  • None.

Negative

  • None.
Insider Velez-Dominguez Rafael A
Role Director
Type Security Shares Price Value
Exercise Restricted Units 1,500 $0.00 $0.00
Grant/Award Common Stock 1,500 $0.00 $0.00
Exercise Price or Tax Liability Common Stock 150 $42.66 $6K
Holdings After Transaction: Restricted Units — 0 shares (Direct); Common Stock — 11,855 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 100% of a grant of Restricted Units ("RUs") of February 20, 2025.
  4. F4. The Restricted Units convert to Common Stock on a one-for-one basis.

FAQ

What insider transactions did OFG (OFG Bancorp) disclose for Rafael A. Velez-Dominguez?
Rafael A. Velez-Dominguez reported the conversion of 1,500 restricted units into 1,500 common shares and the disposal of 150 shares for tax withholding. These equity award-related moves are part of his compensation, not open-market buying or selling.

How many OFG Bancorp shares did Rafael A. Velez-Dominguez acquire in this Form 4 filing?
He acquired 1,500 OFG Bancorp common shares through the conversion of restricted units and an associated award. These shares came from an equity incentive grant rather than a cash purchase on the open market, reflecting standard director compensation practices.

Why were 150 OFG Bancorp shares disposed of in Rafael A. Velez-Dominguez’s Form 4?
The 150 OFG Bancorp shares were withheld to pay applicable taxes on the vested restricted units, at a reported value of $42.66 per share. This tax-withholding disposition is a common mechanism used instead of paying those taxes in cash.

What equity plan governs Rafael A. Velez-Dominguez’s restricted unit award at OFG Bancorp?
The award is governed by the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. The 1,500 restricted units represent 100% of a grant dated February 20, 2025 and convert into common stock on a one-for-one basis upon vesting.

How many OFG Bancorp shares does Rafael A. Velez-Dominguez own after these transactions?
Following the March 4, 2026 transactions, Rafael A. Velez-Dominguez directly owns 11,855 OFG Bancorp common shares. This figure reflects the 1,500-share award from vested restricted units, net of 150 shares withheld to satisfy his tax obligations.

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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*
Velez-Dominguez Rafael A
(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)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026
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 03/04/2026 A 1,500 A (1) 12,005 D
Common Stock 03/04/2026 F 150(2) D $42.66 11,855 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) 03/04/2026 M 1,500 (1) (1) Common Stock 1,500 (1) 0 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 100% of a grant of Restricted Units ("RUs") of February 20, 2025.
4. The Restricted Units convert to Common Stock on a one-for-one basis.
Remarks:
/s /Nilda M. Vazquez-Rodriguez, Attorney-in-Fact for Velez-Dominguez Rafael A 03/06/2026
** 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