Form 4: OFG Bancorp Director Exercises Restricted Units into Common Stock
SEC Form 4
Nestor De Jesus, a director of OFG Bancorp, converted 2,300 restricted units into common stock on February 27, 2024.
Summary
- On February 27, 2024, Nestor De Jesus, a director of OFG Bancorp, exercised 2,300 restricted units, converting them into common stock.
- This transaction was executed under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan.
- Following the transaction, Mr. De Jesus directly owns 20,190 shares of common stock and 3,200 restricted units.
Sentiment
Score: 5
Explanation: This is a neutral report on a routine transaction. It doesn't indicate positive or negative sentiment.
Industry Context
This transaction is a routine disclosure related to insider trading and is common for directors and officers of publicly traded companies.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it represents a standard conversion of existing equity awards.
Key Dates
| Date | Description |
|---|---|
| 2021-02-17 | Date of grant of Restricted Units |
| 2022-10-27 | Date of Limited Power of Attorney |
| 2024-02-27 | Date of transaction: Conversion of restricted units to common stock |
| 2024-02-29 | Date of Form 4 filing |
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