OFG BANCORP
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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Sep 30, 2025 · Filed Nov 7, 2025
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Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
In April 2025, the Board of Directors approved a new $100 million stock repurchase program in addition to the $50 million stock repurchase program approved in October 2024 (collectively, the “repurchase programs”). The shares of common stock repurchased are held by OFG as treasury shares. OFG records treasury stock purchases under the cost method whereby the entire cost of the acquired stock is recorded as treasury stock.
Under the Repurchase Programs, OFG repurchased 1,246,064 shares for a total of $51.5 million at an average price of $41.32 per share during the nine-month period ended September 30, 2025.
The table below sets forth the information with respect to purchases of our common stock made by or on behalf of OFG during the quarter ended September 30, 2025, excluding the month of September during which no shares were repurchased as part of the repurchase programs:
| Period | Total number ofshares purchased | Average price paidper share | Total number ofshares purchasedas part of publiclyannounced programs | Maximum approximatedollar value of sharesthat may yet be purchasedunder the programs |
|---|---|---|---|---|
| (In thousands, except per share data) | ||||
| 7/1/2025 - 7/31/2025 | 166,790 | $43.64 | 166,790 | $91,310 |
| 8/1/2025 - 8/31/2025 | 310,851 | 42.20 | 310,851 | 78,191 |
| Total | 477,641 | $42.71 | 477,641 | $78,191 |
At September 30, 2025, the estimated remaining number of shares that may be purchased under the new Repurchase Program is 1,797,899 and was calculated by dividing the remaining balance of $78.2 million by $43.49 (closing price of OFG’s common stock at September 30, 2025).
OFG did not repurchase any shares of its common stock during the nine-month periods ended September 30, 2025 and 2024, other than through its publicly announced stock repurchase programs.
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