Vazquez Angel E. 4

What Happened

• Angel E. Vazquez, a director of OFG Bancorp (OFG), had 1,500 Restricted Units (RUs) convert to 1,500 shares of common stock on March 4, 2026 (transaction reported on Form 4 filed Mar 6, 2026). As part of the conversion/exercise, 150 shares were withheld to cover applicable taxes at $42.66 per share, for a withholding value of $6,399. The RUs were granted as 100% of a February 20, 2025 award under OFG’s 2007 Omnibus Performance Incentive Plan.

Key Details

• Transaction date: 2026-03-04; Form 4 filed: 2026-03-06 (timely filing).
• Actions reported: A = award/acquisition of 1,500 RUs; M = exercise/conversion of those RUs into 1,500 shares; F = 150 shares withheld for tax payment at $42.66/share (total $6,399).
• Shares owned after transaction: not specified in the filing.
• Relevant footnotes: F2 indicates shares were withheld against Restricted Units to pay taxes; F3 notes the RUs were part of a Feb 20, 2025 grant under the company plan; F4 confirms RUs convert one-for-one to common stock.
• Not a market sale: the 150-share withholding is for taxes, not an open-market sale.

Context

• This was a conversion of restricted units into stock (derivative exercise), not a discretionary purchase or sale that signals trading intent. Tax-withheld shares are routine when equity awards vest/convert and are commonly used to satisfy withholding obligations.