Form 4: OFG Bancorp Executive Haggarty Reports Stock Transactions
SEC Form 4
Patrick J. Haggarty, a Managing Director at OFG Bancorp, reported the vesting of restricted stock units and associated tax withholding on March 7, 2025.
Summary
- On March 7, 2025, Patrick J. Haggarty, a Managing Director at OFG Bancorp, filed a Form 4 detailing changes in his beneficial ownership of OFG Bancorp stock.
- The transactions involved the vesting of 1,950 restricted stock units (RSUs) which converted into common stock.
- 458 shares of common stock were withheld to cover applicable taxes at a price of $41.63 per share.
- Following these transactions, Haggarty directly owns 26,331 shares of OFG Bancorp common stock and 4,164 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard executive compensation practices, and does not contain information that would significantly shift investor sentiment.
Future Outlook
The grantee is expected to receive the underlying shares of Common Stock at the end of the Restricted Period, which lapses in three annual installments.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
Stakeholder Impact
- The vesting of restricted stock units may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 2022-02-22 | Date of one of the grants of Restricted Units (RUs) that vested on 03/07/2025. |
| 2023-01-26 | Date of Limited Power of Attorney for Section 16 Reporting Obligations. |
| 2023-02-21 | Date of one of the grants of Restricted Units (RUs) that vested on 03/07/2025. |
| 2024-02-23 | Date of one of the grants of Restricted Units (RUs) that vested on 03/07/2025. |
| 2025-02-20 | Date of grant of 1,980 Restricted Units (RUs) that will vest in three annual installments. |
| 2025-03-07 | Date of transaction: Vesting of restricted stock units and tax withholding. |
| 2025-03-10 | Date of signature on the Form 4 filing. |
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