Grindstaff Lynda 4

What Happened

• Lynda Grindstaff, a director of OFG Bancorp (OFG), had 300 Restricted Units (RUs) convert to 300 shares on 2026-03-04. The conversion is reported as a derivative exercise/conversion (code M) and an award/acquisition (code A).
• Of the 300 shares, 30 shares were withheld to satisfy tax withholding obligations at $42.66 per share, totaling $1,280, leaving a net 270 shares delivered to Grindstaff.
• This was a compensation/vesting event (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-03-04; Form 4 filed 2026-03-06 (timely filing).
• Award: 300 Restricted Units (granted Feb 20, 2025 under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan) — represents 100% of that grant (footnote F3).
• Conversion: RUs convert to Common Stock on a one-for-one basis (footnote F4).
• Tax withholding: 30 shares withheld against the RUs for taxes at $42.66/share, total $1,280 (footnote F2).
• Shares owned after the transaction: not reported in the provided filing details.

Context

• This is a routine compensation vesting/settlement (award conversion), not an indication of open-market buying or selling intent. The derivative code (M) here reflects conversion of restricted units into common stock; the F code denotes tax withholding to satisfy taxes due on the award.