Gonzalez Hugh 4

What Happened
Hugh Gonzalez, General Counsel of OFG Bancorp (OFG), was granted 2,080 restricted stock units (derivative award) on 2026-03-26. The filing lists the transaction as an award (code A); no purchase price or immediate cash value is reported. This is a compensation grant rather than a market buy or sell.

Key Details

• Transaction date: 2026-03-26; Form 4 filed 2026-03-27 (timely filing).
• Security/amount: 2,080 Restricted Units (derivative award); price listed as N/A.
• Vesting/settlement: Grantee is expected to receive underlying common shares at the end of the restricted period (Footnote F2).
• Vesting schedule: Restricted Period lapses in three annual installments — ~33% on each of the 1st, 2nd and 3rd anniversaries of the award (Footnote F3).
• Shares owned after transaction: Not disclosed in the summary data provided.
• Transaction code: A = Award/Grant of restricted units. No 10b5-1 plan, tax withholding, or late-filing note included.

Context
Restricted stock unit awards are standard executive compensation and typically convert to common shares only as they vest; they do not represent an immediate open-market purchase or sale. Because these units can be forfeited if vesting conditions aren’t met, they are primarily a retention/incentive tool rather than a direct signal of insider buying or selling.