Form 4: OFG Bancorp Director Angel E. Vazquez Exercises Restricted Units
SEC Form 4
Director Angel E. Vazquez exercised restricted units of OFG Bancorp, converting them into common stock on March 13, 2025.
Summary
- On March 13, 2025, Angel E. Vazquez, a director of OFG Bancorp, exercised 900 restricted units (RUs).
- These RUs were awarded under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan on February 23, 2024.
- The restricted units converted into 900 shares of common stock on a one-to-one basis.
- Following the transaction, Vazquez directly owns 900 shares of OFG Bancorp common stock.
Sentiment
Score: 5
Explanation: This is a neutral event, reflecting a standard transaction related to executive compensation.
Industry Context
This is a routine disclosure related to insider transactions and is a common occurrence for publicly traded companies.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares relative to the total outstanding.
Key Dates
| Date | Description |
|---|---|
| April 28, 2023 | Date of the Limited Power of Attorney for Section 16 reporting obligations. |
| February 23, 2024 | Date the Restricted Units were granted under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. |
| March 13, 2025 | Date of the transaction where 900 Restricted Units were exercised and converted to Common Stock. |
| March 14, 2025 | Date of signature on the Form 4 filing. |
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