Form 4: OFG Bancorp Executive Gonzalez Reports Stock Transactions
SEC Form 4 Filing
Hugh Gonzalez, General Counsel of OFG Bancorp, reports the vesting of restricted stock units and subsequent withholding of shares for tax obligations.
Summary
- Hugh Gonzalez, General Counsel of OFG Bancorp, filed a Form 4 detailing changes in beneficial ownership of OFG Bancorp stock.
- On March 5, 2025, 1,716 restricted stock units vested, converting into common stock.
- 541 shares were withheld to cover applicable taxes at a price of $41.63 per share.
- Following these transactions, Gonzalez directly owns 13,696 shares of OFG Bancorp common stock and 1,984 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, and the transactions described are part of standard executive compensation. Therefore, the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices at OFG Bancorp.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects insider activity related to compensation.
Key Dates
| Date | Description |
|---|---|
| 2022-02-22 | Date of one of the grants of Restricted Units (RUs), 33% of which vested on 03/05/2025. |
| 2023-01-26 | Date of the Limited Power of Attorney for Section 16 Reporting Obligations. |
| 2023-02-21 | Date of one of the grants of Restricted Units (RUs), 33% of which vested on 03/05/2025. |
| 2024-02-23 | Date of one of the grants of Restricted Units (RUs), 33% of which vested on 03/05/2025. |
| 2025-03-05 | Date of transaction: vesting of restricted stock units and withholding of shares for taxes. |
| 2025-03-07 | Date of signature of the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.