FRANQUI ANNETTE 4

What Happened

• Annette Franqui, a director of OFG Bancorp (OFG), had 1,500 restricted units (RUs) convert to common stock on 2026-03-04 pursuant to the company’s 2007 Omnibus Performance Incentive Plan. The RUs convert one-for-one to common stock.
• Of the 1,500 shares issued, 150 shares were withheld to satisfy tax withholding at $42.66 per share (150 x $42.66 = $6,399). After withholding, Franqui received a net 1,350 shares. This was an award/vesting event rather than a market purchase or voluntary sale.

Key Details

• Transaction date: 2026-03-04; Form 4 filed 2026-03-06 (filed within normal Form 4 timing).
• Award type: Restricted Units awarded under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan (grant originally dated Feb 20, 2025).
• Conversion: RUs convert to Common Stock on a one-for-one basis.
• Tax withholding: 150 shares withheld and disposed to cover taxes at $42.66/share, totaling $6,399.
• Net change: +1,350 shares added to beneficial ownership (filing shows acquisition of 1,500 RUs and withholding of 150 shares).
• Shares owned after transaction: not specified in the filing.

Context

• This was a compensation-related vesting/conversion (routine) rather than an open-market buy or deliberate sale; tax-withholding via share withholding is common in these situations. Derivative code (M) reflects conversion/exercise of the restricted units into common stock.