Form 4: OFG Bancorp Director Exercises Restricted Units into Common Stock
SEC Form 4
Director Annette Franqui converted restricted units into 600 shares of OFG Bancorp common stock on June 17, 2024.
Summary
- On June 17, 2024, Annette Franqui, a director of OFG Bancorp, converted 600 restricted units into 600 shares of common stock.
- The transaction was executed under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan.
- Following the transaction, Ms. Franqui directly owns 1,300 derivative securities.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction. It's neutral in sentiment as it simply reports the facts of the transaction.
Industry Context
This is a routine disclosure related to insider transactions and is a standard part of corporate governance.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares.
Key Dates
| Date | Description |
|---|---|
| 08/11/2022 | Date of Limited Power of Attorney for Section 16 Reporting Obligations |
| 04/26/2024 | Date of grant of Restricted Units |
| 06/17/2024 | Date of transaction: Conversion of restricted units to common stock |
| 06/20/2024 | Date of signature on the Form 4 filing |
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