SEC Form 4 · accession 0001209191-18-061405
HOPE BANCORP INC · HOPE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kyu S. Kim
Officer — SEVP, Eastern Region President
Period of report
Dec 3, 2018
Accepted (ET)
Dec 6, 2018 · 7:53 pm EST
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,F2 | Dec 3, 2018 | A | 203 | $14.77 | A | 16,723 | 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 UnitsF3 | — | holding | — | — | — | — | — | Common Stock | 5,168 | 5,168 | D |
| Performance-based Restricted Stock UnitsF4 | — | holding | — | — | — | Apr 26, 2021 | — | Common Stock | 2,584 | 2,584 | D |
| Performance-based Restricted Stock UnitsF5 | — | holding | — | — | — | Apr 26, 2021 | — | Common Stock | 2,584 | 2,584 | D |
| Time-based Restricted Stock UnitsF6 | — | holding | — | — | — | — | — | Common Stock | 1,667 | 1,667 | D |
| Performance-based Restricted Stock UnitsF7 | — | holding | — | — | — | Jul 27, 2020 | — | Common Stock | 1,250 | 1,250 | D |
| Performance-based Restricted Stock UnitsF8 | — | holding | — | — | — | Jul 27, 2020 | — | Common Stock | 1,250 | 1,250 | D |
| Incentive Stock Option (right to buy)F9 | $17.18 | holding | — | — | — | — | Sep 1, 2026 | Common Stock | 30,000 | 30,000 | D |
| Time-based Restricted Stock UnitsF10 | — | holding | — | — | — | — | — | Common Stock | 5,400 | 5,400 | D |
Explanation of responses
- F1203 shares of open market purchased stocks were awarded as the reporting person's 20 Year Service Award.
- F10On September 1, 2016, the reporting person was granted 9,000 Restricted Stock Units (RSU) pursuant to the 2016 Incentive Compensation Plan ("2016 ICP"). RSUs convert into common stock on a one-for-one basis and vest annually in five equal installments beginning on the first anniversary of the grant date.
- F216,723 represents total number of vested shares outstanding for the reporting person. In the previous Form 4 filed on 4/30/2018, total number of shares included unvested number of shares from the reporting person's Restricted Stock Units, which now is being reported in Table II of this filing.
- F3Total 5,168 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 1,722 shares each will vest annually on April 26, 2019, 2020, and 1,724 shares on April 26, 2021.
- F42,584 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.
- F52,584 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.
- F6Total 2,500 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 833 shares each will vest annually on July 27, 2018, 2019, and 2020.
- F71,250 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.
- F81,250 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.
- F9Options 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.