SEC Form 4 · accession 0001209191-19-014035
HOPE BANCORP INC · HOPE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jason K Kim
Officer — EVP & Chief Comm Banking Ofc
Period of report
Feb 25, 2019
Accepted (ET)
Feb 27, 2019 · 4:11 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 | Feb 25, 2019 | S | 4,750 | $14.7053 | D | 25,147 | D | |
| Common Stock | holding | — | — | — | 4,677 | I | By spouse |
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 | 1,947 | 1,947 | D |
| Performance-based Restricted Stock UnitsF4 | — | holding | — | — | — | Apr 26, 2021 | — | Common Stock | 974 | 974 | D |
| Performance-based Restricted Stock UnitsF5 | — | holding | — | — | — | Apr 26, 2021 | — | Common Stock | 973 | 973 | D |
| Time-based Restricted Stock UnitsF6 | — | holding | — | — | — | — | — | Common Stock | 4,800 | 4,800 | D |
| Time-based Restricted Stock UnitsF7 | — | holding | — | — | — | — | — | Common Stock | 1,334 | 1,334 | D |
| Performance-based Restricted Stock UnitsF8 | — | holding | — | — | — | Jul 27, 2020 | — | Common Stock | 1,000 | 1,000 | D |
| Performance-based Restricted Stock UnitsF9,F8 | — | holding | — | — | — | Jul 27, 2020 | — | Common Stock | 1,000 | 1,000 | D |
| Incentive Stock Option (right to buy)F10 | $17.18 | holding | — | — | — | — | Sep 1, 2026 | Common Stock | 30,000 | 30,000 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.70 to $14.72, inclusive.
- F10Options 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.
- F2The amount also includes 1,238 shares acquired in February 2018, 269 shares acquired in August 2018, and 633 shares acquired in February 2019 under the Bank of Hope Employee Stock Purchase Plan in transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c), as well as Rule 16a-3(f)(1)(i)(B)
- F3Total 1,947 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 649 shares each will vest annually on April 26, 2019, 2020, and 2021.
- F4974 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.
- F5973 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 8,000 Restricted Stock Units (RSU) were 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.
- F7Total 2,000 Restricted Stock Units (RSU) were granted on July 27, 2017 pursuant to the Hope Bancorp, Inc. ("Hope") 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 666 shares each will vest annually on July 27, 2018, 2019, and 668 shares on 2020.
- F81,000 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.
- F91,000 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.