Form 4: OFG Bancorp Director Sue Harnett Reports Stock Transactions
SEC Form 4
Director Sue Harnett of OFG Bancorp reports the acquisition of 2,300 shares of common stock through the conversion of restricted units and the withholding of 230 shares for tax obligations.
Summary
- On February 26, 2024, Sue Harnett, a director of OFG Bancorp, reported transactions involving the company's common stock.
- Harnett acquired 2,300 shares of common stock through the conversion of restricted units.
- 230 shares were withheld to cover applicable taxes at a price of $35.55.
- Following these transactions, Harnett directly owns 3,070 shares of OFG Bancorp common stock.
- She also directly owns 3,200 restricted units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company director. It doesn't inherently convey positive or negative sentiment.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, like directors, who trade in their company's stock. It provides transparency to the market regarding the transactions of those with privileged information.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect insider activity related to compensation.
Key Dates
| Date | Description |
|---|---|
| October 27, 2022 | Date of Limited Power of Attorney for Section 16 Reporting Obligations. |
| February 17, 2021 | Date of grant of Restricted Units, 100% of which were converted on 02/26/2024. |
| February 26, 2024 | Date of stock transactions: conversion of restricted units and withholding of shares for taxes. |
| February 28, 2024 | Date of signature for the Form 4 filing. |
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