Form 4: OFG Bancorp CFO Maritza Arizmendi Reports Stock Transactions
SEC Form 4
Maritza Arizmendi, CFO of OFG Bancorp, reports the vesting and subsequent tax withholding of shares related to restricted stock units.
Summary
- Maritza Arizmendi, the Chief Financial Officer of OFG Bancorp, filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
- On March 7, 2025, 4,700 restricted stock units vested and converted into common stock.
- A portion of these shares (1,427) were withheld to cover applicable taxes at a price of $41.63 per share.
- Following these transactions, Arizmendi directly owns 68,470 shares of OFG Bancorp common stock and 4,534 restricted units.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation; it doesn't inherently indicate positive or negative sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The transaction has a minor dilutive effect on existing shareholders due to the issuance of new shares upon vesting of the restricted stock units.
Key Dates
| Date | Description |
|---|---|
| February 22, 2022 | Date of one of the grants of Restricted Units (RUs) under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. |
| February 21, 2023 | Date of one of the grants of Restricted Units (RUs) under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. |
| February 23, 2024 | Date of one of the grants of Restricted Units (RUs) under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. |
| 03/07/2025 | Date of transaction: vesting of restricted stock units and tax withholding. |
| 03/11/2025 | Date of signature on the Form 4 filing. |
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