Ortiz Cesar A 4

What Happened

• Cesar A. Ortiz, Chief Risk Officer of OFG Bancorp (OFG), received 717 restricted units that converted one-for-one into common stock on March 10, 2026. Of those, 376 shares were withheld to cover tax obligations at $41.39 per share, a withholding equal to $15,563. The net result was issuance of 341 shares to Ortiz (717 granted - 376 withheld).

Key Details

• Transaction dates: March 10, 2026 (grant/conversion and tax withholding); filing date: March 12, 2026.
• Transaction codes: A = Award/Grant (717 shares); M = Exercise/Conversion of derivative (conversion of 717 restricted units); F = Tax withholding (376 shares disposed to cover taxes).
• Price used for tax withholding: $41.39 per share; withheld shares value = $15,563.
• Shares owned after transaction: not specified in the filing.
• Footnotes: Awarded under the OFG Bancorp Amended & Restated 2007 Omnibus Performance Incentive Plan; these 717 shares represent 33% of a February 23, 2024 grant of restricted units and convert one-for-one to common stock. The 376-share disposition represents shares withheld to pay applicable taxes.
• Filing timeliness: Report filed two days after the transaction date (no indication of a late filing in the document).

Context

• This was not an open-market sale or purchase: Ortiz received vested restricted units that converted into shares, with a portion withheld to satisfy tax withholding (a common administrative step). The conversion/settlement is effectively a non-cash issuance of shares rather than a purchase.