SEC Form 4 · accession 0001209191-17-046830
HOPE BANCORP INC · HOPE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Douglas Goddard
Officer — EVP, Chief Financial Officer
Period of report
Jul 27, 2017
Accepted (ET)
Jul 31, 2017 · 8:36 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001128361
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | holding | — | — | — | 10,800 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Time-based Restricted Stock UnitsF1 | — | Jul 27, 2017 | A | 2,000 | A | — | — | Common Stock | 2,000 | 2,000 | D |
| Performance-based Restricted Stock UnitsF2 | — | Jul 27, 2017 | A | 1,000 | A | Jul 27, 2020 | — | Common Stock | 1,000 | 1,000 | D |
| Performance-based Restricted Stock UnitsF3 | — | Jul 27, 2017 | A | 1,000 | A | Jul 27, 2020 | — | Common Stock | 1,000 | 1,000 | D |
| Incentive Stock Option (right to buy)F4 | $17.18 | holding | — | — | — | — | Sep 1, 2026 | Common Stock | 20,000 | 20,000 | D |
Explanation of responses
- F1Total 2,000 Restricted Stock Units (RSU) were granted on July 27, 2017 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("2017 LTIP") and BBCN Bancorp, Inc. 2016 Incentive Compensation Plan ("2016 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 667 shares each will vest annually on July 27, 2018, 2019, and 2020.
- F21,000 performance-based restricted stock units ("PRSU") were granted on July 27, 2017 pursuant to the 2017 LTIP and the 2016 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU depends upon Hope's achievement of a specified increase in the cumulative quarterly earnings per share during the 10-quarter period from July 1, 2017 through December 31, 2019. 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.
- F31,000 performance-based restricted stock units ("PRSU") were granted on July 27, 2017 pursuant to the 2017 LTIP and the 2016 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 KRX Index over a 10-quarter period from July 1, 2017 through December 31, 2019. 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.
- F4Options granted on September 1, 2016 pursuant to the 2016 ICP. Options vest annually in five equal installments on September 1st of 2017, 2018, 2019, 2020 and 2021.