OFG BANCORP — Director's Dealing 2023

Feb 3, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OFG BANCORP (OFG)
CIK: 0001030469
Period of Report: 2023-02-01

Reporting Person: Kumar Ganesh (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-01	Common Stock	M	2156.00	$16.10	Acquired	165267.00	Direct
2023-02-01	Common Stock	S	5000.00	$28.60	Disposed	5000.00	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-01	Qualified Stock Option	$16.10	F	2844.00	Disposed	2024-02-27	Common Stock (2844.00)	Direct
2023-02-01	Qualified Stock Options	$16.10	M	2156.00	Disposed	2024-02-27	Common Stock (2156.00)	Direct

Footnotes

F1: Represents a "net exercise" of outstanding stock options. The reporting person received 2,156 shares of Common Stock on net exercise of option to purchase 5,000 shares of Common Stock. The Issuer withheld 2,844 shares of Common Stock underlying the option for payment of the exercise price, using the closing stock price on January 31, 2023.

F2: Awarded pursuant to the OFG Bancorp Amended and Restated 2007 Omnibus Performance Incentive Plan ("Plan").

F3: Represents a "net exercise" of outstanding stock options. The Issuer withheld 2,844 shares of Common Stock underlying the options for payment of the exercise price, using the closing stock price of $28.31 on January 31, 2023. The reporting person received 2,156 shares of Common Stock on net exercise of option to purchase 5,000 shares of Common Stock.

F4: The executive is exercising a derivative security.

F5: The Award became exercisable at the rate of 25% per year commencing on February 27, 2016.