Form 4: OFG Bancorp Director Receives Restricted Stock Units

Rafael A. Velez-Dominguez, a Director at OFG Bancorp, was granted 1,500 restricted stock units under the company's incentive plan.

Summary

• Rafael A. Velez-Dominguez, a Director of OFG Bancorp, received a grant of 1,500 restricted stock units on February 26, 2026.
• These units were awarded under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan.
• The restricted period for these units will lapse in its entirety on the first anniversary of the award date.
• Upon vesting, Mr. Velez-Dominguez is expected to receive the underlying shares of Common Stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a standard equity award to a director and does not contain significant financial performance updates or strategic shifts.

Positives

• Director compensation through equity awards can align management interests with shareholder value.
• The grant of restricted units indicates continued investment in key personnel.

Future Outlook

The restricted stock units are subject to a one-year vesting period, after which the underlying shares of Common Stock are expected to be delivered.

Industry Context

StockSavvy.ai notes that equity-based compensation, such as restricted stock units, is a common practice in the financial services industry to attract, retain, and motivate key executives and directors.

Stakeholder Impact

• Shareholders: The issuance of restricted stock units represents a form of compensation, which can impact dilution if the number of shares issued is significant. However, it also serves to align director interests with long-term shareholder value.
• Employees: The filing pertains to director compensation and does not directly impact other employees.
• Management: The award is a standard component of executive and director compensation packages.

Next Steps

• Vesting of restricted stock units on the first anniversary of the award date.
• Receipt of underlying shares of Common Stock by Rafael A. Velez-Dominguez upon vesting.

Key Dates

Keywords

OFG Bancorp, Form 4, Restricted Stock Units, Director Compensation, Equity Incentive Plan, Rafael A. Velez-Dominguez