SEC Form 4 · accession 0001209191-19-018698
HOPE BANCORP INC · HOPE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Alex Ko
Officer — EVP, CFO
Period of report
Mar 8, 2019
Accepted (ET)
Mar 12, 2019 · 1:39 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 | — | — | — | 17,166 | D | ||
| Common Stock (Restricted Stock)F1 | holding | — | — | — | 1,780 | 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 UnitsF2 | — | Mar 8, 2019 | A | 4,231 | A | — | — | Common Stock | 4,231 | 4,231 | D |
| Time-based Restricted Stock UnitsF3 | — | holding | — | — | — | — | — | Common Stock | 4,696 | 4,696 | D |
| Performance-based Restricted Stock UnitsF4 | — | holding | — | — | — | Apr 26, 2021 | — | Common Stock | 2,348 | 2,348 | D |
| Performance-based Restricted Stock UnitsF5 | — | holding | — | — | — | Apr 26, 2021 | — | Common Stock | 2,348 | 2,348 | D |
| Time-based Restricted Stock UnitsF6 | — | holding | — | — | — | — | — | Common Stock | 1,333 | 1,333 | D |
| Performance-based Restricted Stock UnitsF7 | — | holding | — | — | — | Jul 27, 2020 | — | Common Stock | 1,000 | 1,000 | D |
| Performance-based Restricted Stock UnitsF8 | — | holding | — | — | — | Jul 27, 2020 | — | Common Stock | 1,000 | 1,000 | D |
| Time-based Restricted Stock UnitsF9 | — | holding | — | — | — | — | — | Common Stock | 4,200 | 4,200 | D |
| Incentive Stock Option (right to buy)F10 | $17.18 | holding | — | — | — | — | Sep 1, 2026 | Common Stock | 20,000 | 20,000 | D |
Explanation of responses
- F11,780 represents Restricted Stock granted on 04/08/15 and 03/16/16 which are still outstanding including any accrued dividend to date. These shares will vest in March-April 2019 according to previously disclosed vesting schedules.
- F10Non-qualified stock options granted on September 1, 2016 pursuant to the 2016 ICP. These options vest annually in five equal installments on September 1st of 2017, 2018, 2019, 2020 and 2021.
- F2Total 4,231 Restricted Stock Units (RSU) were granted on March 8, 2019 pursuant to the Hope Bancorp, Inc. 2016 Incentive Compensation Plan ("2016 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 2,115 and 2,116 shares will vest annually on March 8, 2020 and 2021 respectively.
- F3Total 4,696 Restricted Stock Units (RSU) were granted on April 26, 2018 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("2017 LTIP") and 2016 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 1,565 shares each will vest annually on April 26, 2019, 2020, and 1,566 shares on April 26, 2021.
- F42,348 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.
- F52,348 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 2,000 Restricted Stock Units (RSU) were granted on July 27, 2017 pursuant to the 2017 LTIP and 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.
- F71,000 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.
- 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.
- F9On September 1, 2016, the reporting person was granted 7,000 Restricted Stock Units (RSU) pursuant to the 2016 ICP. RSUs convert into common stock on a one-for-one basis and vest annually in five equal installments on September 1st of 2017, 2018, 2019, 2020, and 2021.