Form 4: OFG Bancorp CFO Maritza Arizmendi Reports Stock Transactions
SEC Form 4 Filing
Maritza Arizmendi, CFO of OFG Bancorp, reports the vesting of restricted stock units and subsequent tax withholding, resulting in adjustments to her beneficial ownership.
Summary
- On February 26, 2024, Maritza Arizmendi, CFO of OFG Bancorp, engaged in transactions involving common stock and restricted units.
- These transactions included the vesting of 2,434, 1,583, and 1,700 restricted stock units, which converted into common stock.
- A portion of the newly vested shares was withheld to cover applicable taxes, with 739 shares withheld at $35.55, 481 shares at $35.48, and 516 shares at $35.71.
- Following these transactions, Arizmendi's direct ownership of common stock is 60,193 shares.
- She also holds 8,267, 6,684, and 4,984 restricted units from grants in 2021, 2022, and 2023 respectively.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 02/17/2021 | Date of grant of Restricted Units, 34% of which vested on 02/26/2024 |
| 02/22/2022 | Date of grant of Restricted Units, 33% of which vested on 02/26/2024 |
| 02/21/2023 | Date of grant of Restricted Units, 33% of which vested on 02/26/2024 |
| 02/26/2024 | Date of transactions involving common stock and restricted units. |
| 02/28/2024 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.