Form 4: OFG Bancorp Director Rafael A. Velez-Dominguez Reports Stock Transaction
SEC Form 4
Director Rafael A. Velez-Dominguez reports the conversion of restricted units into common stock of OFG Bancorp.
Summary
- On March 13, 2025, Rafael A. Velez-Dominguez, a director of OFG Bancorp, reported a transaction involving the conversion of 1,700 restricted units into common stock.
- The transaction was executed under transaction code 'M', indicating the conversion of a derivative security.
- Following the transaction, Mr. Velez-Dominguez directly owns 10,505 shares of OFG Bancorp common stock.
- The restricted units converted to common stock on a one-to-one basis.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, and the transaction itself is neither positive nor negative. It's a routine part of executive compensation.
Industry Context
This is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency to investors regarding the actions of company insiders.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it increases the number of outstanding shares by a small amount.
Key Dates
| Date | Description |
|---|---|
| 2022-02-22 | Date of grant of Restricted Units |
| 2022-10-27 | Date of Limited Power of Attorney |
| 2024-02-23 | Date of grant of Restricted Units |
| 2025-03-13 | Date of transaction: Conversion of restricted units to common stock |
| 2025-03-14 | Date of report |
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