SEC Form 4 · accession 0001209191-18-049691
HOPE BANCORP INC · HOPE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin Sung Kim
Officer — President & CEO · Director
Period of report
Sep 1, 2018
Accepted (ET)
Sep 5, 2018 · 8:05 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 StockF1 | Sep 1, 2018 | M | 8,334 | $0.00 | A | 70,402 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF11 | — | Sep 1, 2018 | M | 8,334 | D | — | — | Common Stock | 8,334 | 0 | D |
| Time-based Restricted Stock UnitsF2 | — | holding | — | — | — | — | — | Common Stock | 30,294 | 30,294 | D |
| Performance-based Restricted Stock UnitsF3 | — | holding | — | — | — | Apr 26, 2021 | — | Common Stock | 15,147 | 15,147 | D |
| Performance-based Restricted Stock UnitsF4 | — | holding | — | — | — | Apr 26, 2021 | — | Common Stock | 15,147 | 15,147 | D |
| Time-based Restricted Stock UnitsF5 | — | holding | — | — | — | — | — | Common Stock | 28,656 | 28,656 | D |
| Performance-based Restricted Stock UnitsF6 | — | holding | — | — | — | — | — | Common Stock | 14,328 | 14,328 | D |
| Performance-based Restricted Stock UnitsF7 | — | holding | — | — | — | — | — | Common Stock | 14,328 | 14,328 | D |
| Incentive stock option (right to buy)F8 | $17.18 | holding | — | — | — | — | Sep 1, 2026 | Common Stock | 60,000 | 60,000 | D |
| Non-qualified Stock Option (right to buy)F9 | $15.88 | holding | — | — | — | — | Apr 11, 2024 | Common Stock | 170,000 | 170,000 | D |
| Employee Stock Option (right to buy)F10 | $16.12 | holding | — | — | — | — | May 26, 2026 | Common Stock | 30,660 | 30,660 | D |
Explanation of responses
- F1Includes restricted stock granted on April 11, 2014 under the BBCN Bancorp Inc. 2007 Equity Incentive Plan with 12,000 remaining shares that will vest annually in equal installments on April 11, 2018 and 2019.
- F10Employee stock options granted on May 26, 2016 under the BBCN Bancorp Inc. 2007 Equity Incentive Plan. The shares will vest on April 11, 2019.
- F11Total 25,000 restricted stock units were granted on September 1, 2016 pursuant to the BBCN Bancorp, Inc. 2016 Incentive Compensation Plan. Each restricted stock unit represents a contingent right to receive one share of HOPE Bancorp, Inc. common stock. 1/3 of the award vested immediately on the grant date, with the remaining 2/3 vesting in 2 equal annual installments on September 1, 2017 and 2018.
- F2Total 30,294 Restricted Stock Units (RSU) were granted on April 26, 2018 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 10,098 shares each will vest annually on April 26, 2019, 2020, and 2021.
- F315,147 performance-based restricted stock units ("PRSU") were granted on April 26, 2018 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 11-quarter period from April 1, 2018 through December 31, 2020. 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.
- F415,147 performance-based restricted stock units ("PRSU") were granted on April 26, 2018 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 11-quarter period from April 1, 2018 through December 31, 2020. 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.
- F5Total 28,656 Restricted Stock Units (RSU) were granted on June 26, 2017 pursuant to 2017 Long-Term Incentive Plan [2017 LTIP] and 2016 Incentive Compensation Plan [2016 ICP]. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 9,552 shares each will vest on June 26, 2018, 2019, and 2020.
- F614,328 performance-based restricted stock units ("PRSU") were granted on June 26, 2017 pursuant to the 2017 LTIP and the 2016 ICP. Vesting of these PRSU shares depends upon Hope's achievement of a specified increase in the cumulative quarterly earnings per share during the 11-quarter period from April 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.
- F714,328 performance-based restricted stock units ("PRSU") were granted on June 26, 2017 pursuant to the 2017 LTIP and the 2016 ICP. 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 11-quarter period from April 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.
- F8These options were granted on September 1, 2016 pursuant to the BBCN Bancorp, Inc. 2016 Incentive Compensation Plan. 1/3 of the options vested immediately on the grant date, with the remaining 2/3 vesting in 2 equal annual installments on September 1, 2017 and 2018.
- F9Non-qualified stock options granted on April 11, 2014 under the BBCN Bancorp Inc. 2007 Equity Incentive Plan. 50,000 shares remain unvested. 40,000 will vest on April 11, 2018 and remaining 10,000 will vest on April 11, 2019.