Form 4: OFG Bancorp Director Julian Inclan Reports Stock Transaction
SEC Form 4
Director Julian Inclan reports the acquisition of 2,500 shares of OFG Bancorp common stock through the conversion of restricted units.
Summary
- On May 3, 2024, Julian Inclan, a director of OFG Bancorp, acquired 2,500 shares of common stock.
- The acquisition was a result of the conversion of restricted units.
- Following the transaction, Inclan directly owns 109,867.191 shares of OFG Bancorp common stock.
- The restricted units were awarded on April 26, 2023, under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan.
- Each restricted unit converts to one share of common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing regarding a stock transaction, indicating a neutral sentiment.
Positives
- The conversion of restricted units to common stock aligns the director's interests with those of the shareholders.
Industry Context
This filing 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 stakeholders as it is a routine conversion of restricted units to common stock.
Key Dates
| Date | Description |
|---|---|
| 2022/10/27 | Date of Limited Power of Attorney for Section 16 Reporting Obligations |
| 2023/04/26 | Date of grant of Restricted Units |
| 2024/05/03 | Date of transaction: Acquisition of common stock through conversion of restricted units |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.