4/A: OFG Bancorp Executive Corrects Form 4 Filing After Stock Option Exercise

Cesar A. Ortiz, Chief Risk Officer of OFG Bancorp, amends a previous Form 4 filing to correct details regarding a stock option exercise and derivative securities holdings.

Summary

• Cesar A. Ortiz, Chief Risk Officer of OFG Bancorp, filed an amended Form 4 with the SEC.
• The amendment corrects the transaction code in Table I from 'A' to 'M' for a transaction on March 5, 2025.
• The amendment also corrects the number of derivative securities beneficially owned following the reported transaction in Table II, changing it from 2450 to 2184.
• The original transaction involved the exercise of stock options and the disposal of 7,050 shares.
• The filing also clarifies that the restricted units convert to common stock on a one-to-one basis.
• The restricted units were awarded under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan and represent 33% of grants of Restricted Units dated February 22, 2022, February 21, 2023, and February 23, 2024.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, specifically an amendment to correct previously reported information. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Amendments typically indicate a correction of previously reported information.

Key Dates