OFG BANCORP — Director's Dealing 2022

Nov 18, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OFG BANCORP (OFG)
CIK: 0001030469
Period of Report: 2022-11-16

Reporting Person: FERNANDEZ JOSE RAFAEL (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-11-16	Common Stock	M	36600.00	$14.52	Acquired	422561.688	Direct
2022-11-16	Common Stock	F	18647.00	$28.50	Disposed	403914.688	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-11-16	Qualified Stock Options	$14.52	M	36600.00	Disposed	2023-01-22	Common Stock (36600.00)	Direct

Footnotes

F1: Represents a "net exercise" of outstanding stock options. The reporting person received 17,953 shares of Common Stock on net exercise of option to purchase 36,600 shares of Common Stock. The Issuer withheld 18,647 shares of Common Stock underlying the option for payment of the exercise price, using the closing stock price on November 15, 2021.

F2: In addition, the reporting person indirectly owns 45,152 OFG shares of Common Stock through a Non-Qualified Deferred Compensation Trust.

F3: Awarded pursuant to the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan. These options represented a right to buy the underlying securities.

F4: The executive is exercising a derivative security.

F5: The Award became exercisable at the rate of 25% per year commencing on January 22, 2015.