Garcia Ada 4

What Happened Ada Garcia, Managing Director, Customer Intelligence at OFG Bancorp (OFG), had 1,410 restricted units (RSUs) vest/convert to common stock on March 4, 2026. The RSUs converted one-for-one into 1,410 shares (transaction code M). To satisfy tax withholding, 260 shares were surrendered at $41.39 ($10,761) and 248 shares at $42.66 ($10,580), a total withholding value of $21,341 (transaction code F). After withholding, Garcia received a net of 902 shares.

Key Details

• Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (timely).
• Award/vesting: 1,410 RSUs converted to 1,410 shares (code A and M).
• Tax withholding: 260 shares @ $41.39 = $10,761; 248 shares @ $42.66 = $10,580 (total $21,341) (code F).
• Net shares delivered to insider: 1,410 - 508 = 902 shares.
• Footnotes: RSUs awarded under the OFG Bancorp Amended & Restated 2007 Omnibus Performance Incentive Plan; these represent 33% of grants dated Feb 21, 2023 and Feb 20, 2025. RSUs convert to Common Stock on a one-for-one basis; withheld shares represent tax withholding.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• This was a vesting/conversion of restricted units, not an open-market purchase or voluntary sale. The withheld shares were surrendered to cover tax obligations (common practice for RSU vesting), not necessarily a market-timed sale.
• Transaction codes: A = award/grant, M = conversion/exercise of derivative (RSU vesting to stock), F = shares withheld for taxes.