Gonzalez Hugh 4

What Happened

• Hugh Gonzalez, General Counsel of OFG Bancorp, had 1,310 restricted units convert to common stock on March 4, 2026 (transaction code A/M). The units convert one-for-one to common shares.
• To satisfy tax obligations, 560 shares were withheld (278 shares at $41.39 = $11,506; 282 shares at $42.66 = $12,030), leaving a net increase of 750 shares in Gonzalez’s holdings. The withholding payments are reported under transaction code F.

Key Details

• Transaction dates: March 4, 2026 (reported on Form 4 filed March 6, 2026).
• Reported transactions and amounts:
  • A: Award/acquisition — 1,310 Restricted Units converted to 1,310 common shares.
  • M: Exercise/conversion of derivative — conversion of those Restricted Units into common stock.
  • F: Tax withholding — 278 shares withheld at $41.39 ($11,506) and 282 shares withheld at $42.66 ($12,030).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: withholdings represent shares surrendered to pay applicable taxes (F2); the award was under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan and represents 33% of certain grants (F3); Restricted Units convert one-for-one to common stock (F4).
• Timeliness: Form 4 was filed two days after the transaction date (3/6/2026 for 3/4/2026 activity), which appears timely.

Context

• This was conversion/vesting of restricted stock units, not an open-market purchase or voluntary sale. The withheld shares were used solely to cover tax liabilities (a routine administrative step), while the remaining shares were retained by the insider.
• Transaction codes: A = Award/Acquisition, M = Conversion/Exercise of derivative (here, RU conversion), F = tax withholding. No indication in the excerpt that Gonzalez is a 10% owner or that trades were done under a 10b5-1 plan.