Form 4 for HOPE HOPE BANCORP INC
Accepted 2023-03-27 00:00:00 ET · period of report 2023-03-22 · accession 0001209191-23-021318 · 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 KYU S. | SEVP, Eastern Regional Pres | F - Tax | $9.80 | -1,482 | 76.6K | -2% | -$14.5K |
| DM | 2023-03-27 | 2023-03-22 | HOPE | KIM KYU S. | SEVP, Eastern Regional Pres | A - Grant | $10.29 | +15.5K | 70.1K | +29% | +$160.0K |
| DM | 2023-03-27 | 2023-03-22 | HOPE | KIM KYU S. | SEVP, Eastern Regional Pres | A - Grant | $10.29 | +8,001 | 3,200 | New | +$82.3K |
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 | 1,482 | $9.80 | 76,596 | D | — | — | (F3) 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 | 8,001 | $10.29 | 78,078 | D | — | — | (F2) Total 8,001 RSU were granted on March 22, 2023 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("2017 LTIP") and the 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 2,667 each will vest annually on March 22, 2024, March 21, 2025, and March 20, 2026. |
| 3 | Common | Common Stock | 2023-03-22 | A | A | 7,544 | $10.29 | 70,077 | D | — | — | (F1) Total 7,544 Restricted Stock Units ("RSU") were granted on March 22, 2023 pursuant to 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 3,772 shares will each vest annually on March 22, 2024 and March 21, 2025. |
| 4 | Derivative | Performance-based Restricted Stock Units | 2023-03-22 | A | A | 1,601 | $10.29 | 1,601 | D | — · — to — | 1,601 Common Stock | (F6) 1,601 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 | 3,200 | $10.29 | 3,200 | D | — · — to — | 3,200 Common Stock | (F5) 3,200 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 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. |
| 6 | Derivative | Performance-based Restricted Stock Units | 2023-03-22 | A | A | 3,200 | $10.29 | 3,200 | D | — · — to — | 3,200 Common Stock | (F4) 3,200 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. |