Form 4: OFG Bancorp Director Sue Harnett Acquires Restricted Units

Director Sue Harnett acquired 1,500 restricted units of OFG Bancorp on March 11, 2025, under the company's incentive plan.

Summary

• On March 11, 2025, Sue Harnett, a director of OFG Bancorp, acquired 1,500 restricted units (RUs) of the company's common stock.
• The acquisition was made under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan.
• The restricted period for these units is expected to lapse on the first anniversary of the award date, February 20, 2025.
• Harnett's attorney-in-fact, Nilda M. Vazquez-Rodriguez, signed the Form 4 on March 13, 2025.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (grant of restricted units) which is generally a positive sign of aligning management interests with shareholders. The sentiment is neutral to slightly positive.

Positives

• The acquisition of restricted units aligns the director's interests with the company's performance.
• The vesting of the restricted units after one year incentivizes continued service and contribution to OFG Bancorp.

Future Outlook

The director is expected to receive the underlying shares of common stock at the end of the restricted period.

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 acquisition of restricted units by a director can positively influence shareholder confidence.

Key Dates