Arizmendi Maritza 4

What Happened

• Maritza Arizmendi, CFO of OFG Bancorp (OFG), converted 2,996 restricted units into 2,996 shares of common stock on March 4, 2026.
• To satisfy tax withholding, 910 of those shares were withheld (516 shares at $41.39 = $21,357; 394 shares at $42.66 = $16,808), totaling about $38,165.
• Net new shares delivered to Arizmendi = 2,086 shares (2,996 converted − 910 withheld). This is a conversion of awarded restricted units rather than an open-market sale or purchase.

Key Details

• Transaction date: March 4, 2026 (Form 4 filed March 6, 2026).
• Actions reported: A (award/acquisition) 2,996 shares; M (exercise/conversion of derivative) 2,996; F (tax withholding) 516 shares @ $41.39 and 394 shares @ $42.66.
• Tax withholding cash value: $21,357 + $16,808 = $38,165 (approx).
• Shares owned after transaction: Not specified in the provided excerpt.
• Footnotes: Shares withheld represent common stock withheld against Restricted Units for payment of taxes (F2). The units were awarded under OFG’s Amended and Restated 2007 Omnibus Performance Incentive Plan and represent 33% of grants dated Feb 21, 2023 and Feb 20, 2025 (F3). Restricted Units convert one-for-one to common stock (F4). F1: Not applicable.
• Filing timeliness: Form filed two days after the transaction date; no late-filing flag reported in the provided data.

Context

• This was a conversion of restricted units (RSUs/performance-based awards) into shares; withholding of shares to cover taxes is routine and not a market sale.
• The M code indicates conversion/exercise of a derivative (the restricted units), and the F codes reflect tax withholding rather than disposition in the open market.
• Such conversions increase insider shareholdings net of withholding (here +2,086 shares) and are typically part of compensation vesting.