Harnett Sue 4

What Happened

• Sue Harnett, a director of OFG Bancorp (OFG), was awarded 1,500 restricted units (RUs) that converted to 1,500 shares of common stock on March 4, 2026. To satisfy tax withholding, 150 shares were withheld at $42.66 per share, totaling $6,399. The net result is issuance of 1,350 shares to Harnett after withholding.

Key Details

• Transaction date: March 4, 2026; Form 4 filed March 6, 2026 (within the standard reporting window).
• Award: 1,500 Restricted Units granted under the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan (represents 100% of the RU grant of Feb 20, 2025).
• Conversion: RUs convert to common stock on a one-for-one basis (exercise/conversion reported as derivative activity).
• Tax withholding: 150 shares withheld at $42.66/share for taxes, amounting to $6,399.
• Shares owned after transaction: Not disclosed in the Form 4 filing.
• Footnotes: Withholding was used to satisfy applicable taxes; award was an RU grant under the company plan.

Context

• This is an award/vesting transaction (not an open-market purchase or sale). Withholding of shares for taxes is a routine administrative step when restricted units vest or convert and does not necessarily indicate a change in insider sentiment. The conversion was reported as a derivative exercise (typical for RSU/RU vesting).