Form 4: OFG Bancorp Executive Mari Evelyn Rodriguez Awarded Restricted Stock Units

Mari Evelyn Rodriguez, Chief Retail Banking Officer of OFG Bancorp, was granted 2,150 restricted stock units under the company's 2007 Omnibus Performance Incentive Plan.

Summary

• On March 8, 2024, Mari Evelyn Rodriguez, Chief Retail Banking Officer of OFG Bancorp, was awarded 2,150 restricted stock units.
• The award was granted under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan per grant of February 23, 2024.
• These restricted stock units will vest in three annual installments: 33% on the first anniversary, 33% on the second anniversary, and 33% on the third anniversary of the award date.
• Following this transaction, Rodriguez beneficially owns 12,650 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive.

Positives

• The award of restricted stock units aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the restricted stock units.

Industry Context

The granting of restricted stock units is a common practice in the financial industry to incentivize and retain key executives.

Stakeholder Impact

• Shareholders may view the granting of restricted stock units as a positive sign, aligning management's interests with long-term company performance.
• Employees may see this as a sign of stability and investment in leadership.

Key Dates