OFG BANCORP — Director's Dealing 2023

Jan 23, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OFG BANCORP (OFG)
CIK: 0001030469
Period of Report: 2023-01-19

Reporting Person: Kumar Ganesh (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-19	Common Stock	M	11912.00	$14.52	Acquired	163111.00	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-19	Qualified Stock Option	$14.52	F	13588.00	Disposed	2023-01-22	Common Stock (13588.00)	Direct
2023-01-19	Qualified Stock Options	$14.52	M	11912.00	Disposed	2023-01-22	Common Stock (11912.00)	Direct

Footnotes

F1: Represents a "net exercise" of outstanding stock options. The reporting person received 11,912 shares of Common Stock on net exercise of option to purchase 25,500 shares of Common Stock. The Issuer withheld 13,588 shares of Common Stock underlying the option for payment of the exercise price, using the closing stock price on January 18, 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 13,588 shares of Common Stock underlying the option, for payment of the exercise price, using the closing stock price of $27.25 on January 18, 2023. The reporting person received 11,912 shares of Common Stock on net exercise of option to purchase 25,500 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 January 22, 2015.