Form 4: OFG Bancorp Director Julian Inclan Exercises Restricted Units
SEC Form 4 Filing
Director Julian Inclan converted 3,400 restricted units into common stock of OFG Bancorp on February 26, 2024.
Summary
- On February 26, 2024, Julian Inclan, a director of OFG Bancorp, exercised 3,400 restricted units (RUs) which converted into common stock.
- This transaction was executed under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan.
- Following the transaction, Inclan directly owns 107,367.191 shares of OFG Bancorp common stock and 4,700 restricted units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Industry Context
This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company insiders.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects an insider's activity related to their compensation.
Key Dates
| Date | Description |
|---|---|
| 2021-02-17 | Date of grant of Restricted Units (RUs). |
| 2022-10-27 | Date of Limited Power of Attorney for Section 16 Reporting Obligations. |
| 2024-02-26 | Date of transaction: conversion of restricted units to common stock. |
| 2024-02-28 | Date of Form 4 filing. |
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