Kyu S. Kim - May 19, 2021 Form 4 Insider Report for HOPE BANCORP INC (HOPE)

Signature
/s/Claire Hur as attorney-in-fact for Kyu S. Kim
Stock symbol
HOPE
Transactions as of
May 19, 2021
Transactions value $
$0
Form type
4
Date filed
5/21/2021, 07:30 PM
Next filing
May 26, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding HOPE Common Stock 32.2K May 19, 2021 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 Time-based Restricted Stock Units Award +4.38K 4.38K May 19, 2021 Common Stock 4.38K Direct F1
transaction HOPE Performance-based Restricted Stock Units Award +1.75K 1.75K May 19, 2021 Common Stock 1.75K Direct F2
transaction HOPE Performance-based Restricted Stock Units Award +1.75K 1.75K May 19, 2021 Common Stock 1.75K Direct F3
transaction HOPE Performance-based Restricted Stock Units Award +875 875 May 19, 2021 Common Stock 875 Direct F4
holding HOPE Time-based Restricted Stock Units 5K May 19, 2021 Common Stock 5K Direct F5
holding HOPE Performance-based Restricted Stock Units 3.75K May 19, 2021 Common Stock 3.75K Direct F6
holding HOPE Performance-based Restricted Stock Units 3.75K May 19, 2021 Common Stock 3.75K Direct F7
holding HOPE Time-based Restricted Stock Units 2.73K May 19, 2021 Common Stock 2.73K Direct F8
holding HOPE Time-based Restricted Stock Units 3.63K May 19, 2021 Common Stock 3.63K Direct F9
holding HOPE Performance-based Restricted Stock Units 2.72K May 19, 2021 Common Stock 2.72K Direct F10
holding HOPE Performance-based Restricted Stock Units 2.72K May 19, 2021 Common Stock 2.72K Direct F11
holding HOPE Incentive Stock Option (right to buy) 30K May 19, 2021 Common Stock 30K $17.18 Direct F12
holding HOPE Time-based Restricted Stock Units 1.8K May 19, 2021 Common Stock 1.8K Direct F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Total 4,378 Restricted Stock Units ("RSU") were granted on May 19, 2021 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("2017 LTIP") and the Hope Bancorp, Inc. 2019 Incentive Compensation Plan ("2019 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 1,459 each will vest annually on May 19, 2022 and May 19, 2023, and 1,460 shares will vest on May 19, 2024.
F2 1,751 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 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.
F3 1,751 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.
F4 875 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.
F5 Total 7,500 RSU were granted on April 22, 2020 pursuant to the 2017 LTIP and the 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 2,500 shares each will vest annually on April 22, 2021, 2022, and 2023.
F6 3,750 PRSU were granted on April 22, 2020 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 KRX Index over an 11-quarter period from April 1, 2020 through December 31, 2022. 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.
F7 3,750 PRSU were granted on April 22, 2020 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 average assets in relation to the KRX Index over an 11-quarter period from April 1, 2020 through December 31, 2022. 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.
F8 Total 5,453 RSU were granted on March 6, 2020 pursuant to the 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 2,726 and 2,727 shares each will vest annually on March 6, 2021 and 2022 respectively.
F9 Total 5,439 RSU were granted on May 23, 2019 pursuant to the 2017 LTIP and the 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installment of 1,813 shares each will vest annually on May 23, 2020, 2021, and 2022.
F10 2,719 PRSU were granted on May 23, 2019 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 average assets in relation to the KRX Index during the 11-quarter period from April 1, 2019 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.
F11 2,719 PRSU were granted on May 23, 2019 pursuant to the 2017 LTIP and the 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 KRX Index over an 11-quarter period from April 1, 2019 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.
F12 Non-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.
F13 On September 1, 2016, the reporting person was granted 9,000 RSU pursuant to the 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.