Form 4: OFG Bancorp Executive Hugh Gonzalez Reports Stock Transactions
SEC Form 4 Filing
Hugh Gonzalez, General Counsel of OFG Bancorp, reports the acquisition and disposal of common stock related to a performance share unit settlement.
Summary
- Hugh Gonzalez, General Counsel of OFG Bancorp, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
- On February 11, 2025, Gonzalez acquired 1,800 shares of common stock upon settlement of a performance share unit award.
- On the same day, 567 shares were withheld for payment of applicable taxes at a price of $43.03 per share.
- Following these transactions, Gonzalez directly owns 12,521 shares of OFG Bancorp common stock.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing, indicating neutral sentiment. The transactions are part of a pre-existing compensation plan.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| January 26 2023 | Date of Limited Power of Attorney for Section 16 Reporting Obligations |
| February 11 2025 | Date of stock acquisition and disposal related to performance share unit settlement |
| February 13 2025 | Date of signature for the Form 4 filing |
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