Form 4: OFG Bancorp Director Sue Harnett Acquires Restricted Stock Units

Director Sue Harnett acquired 1,300 restricted stock units of OFG Bancorp on March 15, 2024, which will vest on the first anniversary of the award date.

Summary

• On March 15, 2024, Sue Harnett, a director of OFG Bancorp, acquired 1,300 restricted stock units (RSUs).
• These RSUs were awarded under the company's Amended and Restated 2007 Omnibus Performance Incentive Plan, with the grant date being February 23, 2024.
• The restricted period for these units will lapse on the first anniversary of the award date.
• Following this transaction, Ms. Harnett beneficially owns 4,500 derivative securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a standard transaction of restricted stock units, which is a common practice in executive compensation. It doesn't inherently indicate positive or negative sentiment.

Positives

• The acquisition of restricted stock units by a director signals confidence in the company's future performance.

Future Outlook

The restricted stock units will vest on the first anniversary of the award date.

Industry Context

This is a routine disclosure related to insider transactions, common in publicly traded companies to ensure transparency and compliance with securities regulations.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholder confidence due to the director's increased stake in the company.

Key Dates