Velez-Dominguez Rafael A 4

What Happened

• Rafael A. Velez‑Dominguez, a director of OFG Bancorp (OFG), received a grant of 1,500 restricted units (an award) on May 11, 2026. The filing lists no per-share purchase price—this is a compensation award, not an open‑market purchase or sale. The restricted units are derivative awards that are expected to convert into underlying common shares after the restricted period.

Key Details

• Transaction date: 2026-05-11; Form 4 filed: 2026-05-13 (timely, two business days after the transaction).
• Transaction code: A = Award/Grant.
• Shares/units granted: 1,500 restricted units. No purchase price or immediate cash value listed in the filing.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes:
  • F1: Award made under OFG Bancorp’s Amended and Restated 2007 Omnibus Performance Incentive Plan (award documented Feb 26, 2026).
  • F2: Grantee is expected to receive the underlying common shares at the end of the restricted period.
  • F3: Restricted period lapses in its entirety on the first anniversary of the award (i.e., vesting occurs after one year).
  • F4: Not applicable.
• Filing status: No late filing indicated.

Context

• These are restricted units granted as compensation to a director; they do not involve an immediate cash purchase by the insider and are not an immediate sale of shares. The awards convert to common stock after the one‑year restriction/vesting period, assuming plan terms are met. Such grants are routine forms of director compensation and should be interpreted as compensation-related rather than direct market buying or selling.