David Malone - Mar 15, 2024 Form 4 Insider Report for HOPE BANCORP INC (HOPE)

Role
Director
Signature
/s/Claire Hur as attorney-in-fact for David Malone
Stock symbol
HOPE
Transactions as of
Mar 15, 2024
Transactions value $
-$21,508
Form type
4
Date filed
3/19/2024, 08:30 PM
Previous filing
May 25, 2023
Next filing
Jul 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HOPE Common Stock Options Exercise $73.3K +6.81K +6.48% $10.77 112K Mar 15, 2024 Direct
transaction HOPE Common Stock Options Exercise $27.4K +2.54K +2.27% $10.77 114K Mar 15, 2024 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction HOPE Performance-based Restricted Stock Units Options Exercise -$24.4K -2.27K -100% $10.77 0 Mar 15, 2024 Common Stock 2.27K Direct F1
transaction HOPE Performance-based Restricted Stock Units Options Exercise -$48.9K -4.54K -100% $10.77 0 Mar 15, 2024 Common Stock 4.54K Direct F2
transaction HOPE Performance-based Restricted Stock Units Disposed to Issuer -$48.9K -4.54K -100% $10.77 0 Mar 15, 2024 Common Stock 4.54K Direct F3, F4
holding HOPE Incentive Stock Option (right to buy) 20K Mar 15, 2024 Common Stock 20K $17.18 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 2,269 Performance-based Restricted Stock Units "PRSU" were granted on May 19, 2021 pursuant to the 2017 LTIP and 2019 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 bank's stated peer group over a 12-quarter period from January 1, 2021 through December 31, 2023. 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.
F2 4,540 PRSU were granted on May 19, 2021 pursuant to the 2017 LTIP and 2019 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified absolute earnings per share in relation to the bank's stated budget over a 12- month period from January 1, 2021 through December 31, 2021. 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.
F3 4,540 PRSU were granted on May 19, 2021 pursuant to the 2017 LTIP and 2019 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative return on common tangible equity in relation to the bank's stated peer group over a 12-quarter period from January 1, 2021 through December 31, 2023. 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.
F4 Represents the forfeiture of PRSU granted to the reporting person on May 19, 2021 that were eligible to vest based on certain financial performance objectives.
F5 Non-qualified stock options were granted on September 1, 2016 pursuant to the 2016 ICP, formerly known as the BBCN Bancorp, Inc. 2016 Incentive Compensation Plan. These options were fully vested as of September 1, 2018.