Gonzalez Hugh 4
4 · OFG BANCORP · Filed Mar 27, 2026
Research Summary
AI-generated summary of this filing
OFG Bancorp General Counsel Hugh Gonzalez Receives 2,080-Unit Award
What Happened
Hugh Gonzalez, General Counsel of OFG Bancorp (OFG), was granted 2,080 restricted stock units (derivative award) on 2026-03-26. The filing lists the transaction as an award (code A); no purchase price or immediate cash value is reported. This is a compensation grant rather than a market buy or sell.
Key Details
- Transaction date: 2026-03-26; Form 4 filed 2026-03-27 (timely filing).
- Security/amount: 2,080 Restricted Units (derivative award); price listed as N/A.
- Vesting/settlement: Grantee is expected to receive underlying common shares at the end of the restricted period (Footnote F2).
- Vesting schedule: Restricted Period lapses in three annual installments — ~33% on each of the 1st, 2nd and 3rd anniversaries of the award (Footnote F3).
- Shares owned after transaction: Not disclosed in the summary data provided.
- Transaction code: A = Award/Grant of restricted units. No 10b5-1 plan, tax withholding, or late-filing note included.
Context
Restricted stock unit awards are standard executive compensation and typically convert to common shares only as they vest; they do not represent an immediate open-market purchase or sale. Because these units can be forfeited if vesting conditions aren’t met, they are primarily a retention/incentive tool rather than a direct signal of insider buying or selling.
Insider Transaction Report
- Award
Restricted Units
[F1][F2][F4][F3]2026-03-26+2,080→ 4,067 total→ Common Stock (2,080 underlying)
Footnotes (4)
- [F1]Awarded pursuant to the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan (the "Plan") per grant of Restricted Units of February 26, 2026.
- [F2]Not applicable. The Grantee is expected to receive the underlying shares of Common Stock at the end of the Restricted Period.
- [F3]Subject to the provisions of the Plan, the Restricted Period shall lapse in three annual installments as follows: 33% on the first anniversary, 33% on the second anniversary, and 33% on the third anniversary of the date of the Award.
- [F4]Not applicable.