OFG Bancorp reports 2018 executive compensation

CEO José Rafael Fernández receives $2.8M

OFG Bancorp reported fiscal year 2018 executive compensation information on March 13, 2019.

In 2018, six executives at OFG Bancorp received on average a compensation package of $1,067,735, a 11% increase compared to previous year.

Average pay of disclosed executives at OFG Bancorp

José Rafael Fernández, Chief Executive Officer, received $2,800,477 in total, which increased by 21% compared to 2017. 30.89% of Fernández's compensation, or $865,000, was in salary. Fernández also received $283,333 in bonus, $708,600 in non-equity incentive plan, $850,940 in stock awards, as well as $92,604 in other compensation.

Ganesh Kumar, Chief Operating Officer, received a compensation package of $1,857,030, which increased by 42% compared to previous year. 28.50% of the compensation package, or $529,200, was in non-equity incentive plan.

Maritza Arizmendi, Chief Financial Officer, earned $622,094 in 2018, a 35% increase compared to previous year.

Cesar Ortiz, Senior Vice President of Commercial Credit and Operations, received $396,472 in 2018, which increases by 8% compared to 2017.

Ramón Rosado-Linera, Chief Technology Officer, earned $387,299 in 2018, a 8% increase compared to previous year.

Rafael Cruz, Senior Vice President and Chief Risk and Compliance Officer, received $343,036 in 2018.