Song David Lee 4
4 · HOPE BANCORP INC · Filed Dec 1, 2017
Insider Transaction Report
Form 4
HOPE BANCORP INCHOPE
Song David Lee
EVP, Chief Business Banking Of
Transactions
- Tax Payment
Common Stock
2017-09-01$16.20/sh−376$6,091→ 11,233 total - Sale
Common Stock
2017-11-29$19.25/sh−3,000$57,750→ 8,233 total - Award
Common Stock
2016-09-01+5,000→ 11,609 total
Holdings
- 750
Performance-based Restricted Stock Units
From: 2020-07-27→ Common Stock (750 underlying) - 2,015
Common Stock (Restricted Stock)
- 750
Performance-based Restricted Stock Units
From: 2020-07-27→ Common Stock (750 underlying) - 1,500
Time-based Restricted Stock Units
→ Common Stock (1,500 underlying) - 20,000
Incentive Stock Option (right to buy)
Exercise: $17.18Exp: 2026-09-01→ Common Stock (20,000 underlying)
Footnotes (6)
- [F1]On 9/1/16, the reporting person was granted 5,000 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. The amount reflected in Column 5 of Table I corrects the amount of securities beneficially owned in Form 4 filed on 7/27/17.
- [F2]2,015 represents outstanding (unvested) Restricted Stock from previous grants on 4/8/15 and 3/16/16, including accrued dividends to date. These shares will vest in March-April 2018 and 2019 according to previously disclosed vesting schedules.
- [F3]Total 1,500 Restricted Stock Units (RSU) were granted on July 27, 2017 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("2017 LTIP") and the 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 500 shares each will vest annually on July 27, 2018, 2019, and 2020.
- [F4]750 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.
- [F5]750 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.
- [F6]Options 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.