Form 4 for HOPE HOPE BANCORP INC
Accepted 2023-03-27 00:00:00 ET · period of report 2023-03-22 · accession 0001209191-23-021316 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-03-27 | 2023-03-23 | HOPE | Kim Kevin Sung | COB, CEO, Dir | F - Tax | $9.80 | -8,074 | 869.0K | -0.9% | -$79.1K |
| D | 2023-03-27 | 2023-03-22 | HOPE | Kim Kevin Sung | COB, CEO, Dir | A - Grant | $10.29 | +68.1K | 877.0K | +8% | +$701.0K |
| DM | 2023-03-27 | 2023-03-22 | HOPE | Kim Kevin Sung | COB, CEO, Dir | A - Grant | $10.29 | +68.1K | 27.2K | New | +$701.0K |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-03-23 | F | D | 8,074 | $9.80 | 868,955 | D | — | — | (F2) Shares disposed to satisfy the Reporting Person's tax liability incurred by the vesting of a previously granted award. |
| 2 | Common | Common Stock | 2023-03-22 | A | A | 68,122 | $10.29 | 877,029 | D | — | — | (F1) Total 68,122 Restricted Stock Units ("RSU") were granted on March 22, 2023 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("2017 LTIP") and the Hope Bancorp, Inc. 2019 Incentive Compensation Plan ("2019 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 22,707 each will vest annually on March 22, 2024 and March 21, 2025, and 22,708 shares will vest on March 20, 2026. |
| 3 | Derivative | Performance-based Restricted Stock Units | 2023-03-22 | A | A | 27,249 | $10.29 | 27,249 | D | — · — to — | 27,249 Common Stock | (F3) 27,249 performance-based restricted stock units ("PRSU") were granted on March 22, 2023 pursuant to the 2017 LTIP and 2019 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative return on common tangible equity in relation to the bank's stated peer group over a 12-quarter period from January 1, 2023 through December 31, 2025. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded. |
| 4 | Derivative | Performance-based Restricted Stock Units | 2023-03-22 | A | A | 13,624 | $10.29 | 13,624 | D | — · — to — | 13,624 Common Stock | (F5) 13,624 PRSU were granted on March 22, 2023 pursuant to the 2017 LTIP and 2019 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative ranking of the total stockholder return in relation to the bank's stated peer group over a 12-quarter period from January 1, 2023 through December 31, 2025. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded. |
| 5 | Derivative | Performance-based Restricted Stock Units | 2023-03-22 | A | A | 27,249 | $10.29 | 27,249 | D | — · — to — | 27,249 Common Stock | (F4) 27,249 PRSU were granted on March 23, 2023 pursuant to the 2017 LTIP and 2019 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified absolute earnings per share in relation to the bank's stated budget over a 12- month period from January 1, 2023 through December 31, 2023. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded. |