Form 4: OFG Bancorp Executive Mari Evelyn Rodriguez Reports Stock Transactions
SEC Form 4 Filing
Mari Evelyn Rodriguez, Chief Retail Banking Officer of OFG Bancorp, reports the vesting of restricted stock units and related tax withholding.
Summary
- On March 7, 2025, Mari Evelyn Rodriguez, Chief Retail Banking Officer of OFG Bancorp, reported transactions involving OFG Bancorp's common stock.
- 716 shares were acquired upon the vesting of restricted stock units.
- 198 shares were disposed of to cover tax obligations related to the vesting.
- Following these transactions, Rodriguez directly owns 3,267 shares of common stock and 10,414 restricted stock units.
- These transactions were executed under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing reflecting standard compensation practices, so the sentiment is neutral.
Future Outlook
The remaining restricted stock units granted on February 23, 2024, will vest in two annual installments, and the restricted stock units granted on February 20, 2025, will vest in three annual installments.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's stock.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders.
- The vesting schedule of the restricted stock units is typical, with vesting occurring over a period of several years to incentivize long-term performance.
Stakeholder Impact
- Shareholders are informed about insider transactions, promoting transparency.
- Employees are impacted through equity-based compensation plans.
Key Dates
| Date | Description |
|---|---|
| 2023/08/09 | Date of Limited Power of Attorney execution. |
| 2024/02/23 | Date of grant of Restricted Units, 33% of which vested on 03/07/2025. |
| 2025/02/20 | Date of grant of Restricted Units. |
| 2025/03/07 | Date of transaction: vesting of restricted stock units and tax withholding. |
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