Form 4: OFG Bancorp Executive Reports Stock Transactions

Patrick J. Haggarty, Managing Director of Commercial Banking at OFG Bancorp, reported the acquisition of restricted stock units and subsequent tax-related dispositions of common stock.

Summary

• Patrick J. Haggarty, a Director and Managing Director of Commercial Banking at OFG Bancorp, reported transactions on March 4, 2026.
• Acquired 1,410 shares of Common Stock.
• Disposed of 202 shares of Common Stock at $41.39 for tax purposes.
• Disposed of 196 shares of Common Stock at $42.66 for tax purposes.
• Beneficial ownership of Common Stock after these transactions is 29,717 shares.
• Acquired 1,410 Restricted Units, which convert to Common Stock on a one-for-one basis.
• These Restricted Units were awarded under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan and represent 33% of grants from February 21, 2023, and February 20, 2025.
• Beneficial ownership of Derivative Securities (Restricted Units) is 2,754 units.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing. The acquisition of restricted units indicates continued executive alignment, while the dispositions are routine tax-related events.

Positives

• Acquisition of 1,410 Restricted Units indicates continued equity participation and alignment of interests with shareholders.
• The Restricted Units are part of an incentive plan, suggesting performance-based compensation.

Negatives

• Disposition of 398 shares of common stock (202 + 196) for tax withholding purposes reduces direct common stock holdings.

Risks

• NA

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance or outlook, focusing solely on past insider transactions.

Industry Context

StockSavvy.ai notes that insider transaction reports like this Form 4 are routine disclosures for publicly traded companies. While not indicative of broader industry trends, they provide transparency into executive compensation and equity ownership, which can be a factor in assessing management's alignment with shareholder interests within the banking sector.

Comparison to Industry Standards

• This Form 4 filing details standard executive compensation practices involving restricted stock units and tax-related dispositions, common across publicly traded companies, including financial institutions like OFG Bancorp. There are no specific comparable companies or projects mentioned in this filing to assess against industry benchmarks.

Stakeholder Impact

• Shareholders: Increased transparency regarding executive equity ownership and compensation structure.

Key Dates

Recommendation

This Form 4 filing reports routine insider transactions related to executive compensation, specifically the vesting of restricted stock units and subsequent tax-related sales. Such transactions are generally not considered significant drivers of stock price movement and do not provide new fundamental information to warrant a change in investment recommendation. The executive's continued equity participation through restricted units suggests ongoing alignment with shareholder interests.

Keywords

OFG Bancorp, OFG, Patrick J. Haggarty, Insider Trading, Form 4, Restricted Stock Units, Common Stock, Executive Compensation, Stock Transactions