FERNANDEZ JOSE RAFAEL 4

What Happened

• Jose Rafael Fernandez, CEO and Chairman of the Board of OFG Bancorp (OFG), was awarded 11,490 Restricted Units (RSUs) on March 4, 2026. The RSUs convert to common stock on a one-for-one basis.
• Upon conversion/exercise of the RSUs, a total of 3,718 shares were withheld to satisfy tax withholding: 1,523 shares at $42.66 ($64,971) and 2,195 shares at $41.39 ($90,851), totaling $155,822. Net shares received by Fernandez after withholding were 7,772 shares.
• Transaction codes: A = award/grant of RSUs; M = conversion/exercise of the derivative (RSUs to common stock); F = shares withheld to pay taxes (cashless withholding).

Key Details

• Transaction date: March 4, 2026.
• Awarded: 11,490 RSUs (convert 1:1 to common stock).
• Tax withholding: 1,523 shares @ $42.66 ($64,971) and 2,195 shares @ $41.39 ($90,851); total withholding value $155,822; net shares retained = 7,772.
• Footnotes: Award made under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan; these RSUs represent 33% of grants from Feb 21, 2023 and Feb 20, 2025. Restricted Units convert one-for-one to common stock; withheld shares used to pay applicable taxes.
• Shares owned after the transaction: not specified in the provided filing extract.
• Filing timeliness: no late filing indication in the provided data.

Context

• This was an award of RSUs and their conversion to common stock with shares withheld to cover taxes (a routine cashless withholding). Such award-and-withholding transactions are common for executive compensation and do not necessarily signal buying or selling intent in the open market.
• For investors, outright purchases are generally a stronger bullish signal than receipt of compensation or routine tax-withholdings.