Thomas Stenger - May 24, 2021 Form 4 Insider Report for HOPE BANCORP INC (HOPE)

Role: EVP, Chief Risk Officer
Signature: /s/Claire Hur as attorney-in-fact for Thomas Stenger
Stock symbol: HOPE
Transactions as of: May 24, 2021
Transactions value $: -$5,571
Form type: 4
Date filed: 5/26/2021, 06:45 PM
Previous filing: May 21, 2021
Next filing: Aug 26, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HOPE	Common Stock	Options Exercise	$19K	+1.23K	+22.1%	$15.39	6.81K	May 24, 2021	Direct
transaction	HOPE	Common Stock	Tax liability	-$5.57K	-362	-5.31%	$15.39	6.45K	May 24, 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	Options Exercise	-$19K	-1.23K	-50%	$15.39	1.23K	May 24, 2021	Common Stock	1.23K		Direct	F9
holding	HOPE	Time-based Restricted Stock Units						4.54K	May 24, 2021	Common Stock	4.54K		Direct	F1
holding	HOPE	Performance-based Restricted Stock Units						1.82K	May 24, 2021	Common Stock	1.82K		Direct	F2
holding	HOPE	Performance-based Restricted Stock Units						1.82K	May 24, 2021	Common Stock	1.82K		Direct	F3
holding	HOPE	Performance-based Restricted Stock Units						907	May 24, 2021	Common Stock	907		Direct	F4
holding	HOPE	Time-based Restricted Stock Units						5.33K	May 24, 2021	Common Stock	5.33K		Direct	F5
holding	HOPE	Performance-based Restricted Stock Units						4K	May 24, 2021	Common Stock	4K		Direct	F6
holding	HOPE	Performance-based Restricted Stock Units						4K	May 24, 2021	Common Stock	4K		Direct	F7
holding	HOPE	Time-based Restricted Stock Units						2.12K	May 24, 2021	Common Stock	2.12K		Direct	F8
holding	HOPE	Performance-based Restricted Stock Units						1.85K	May 24, 2021	Common Stock	1.85K		Direct	F10
holding	HOPE	Performance-based Restricted Stock Units						1.85K	May 24, 2021	Common Stock	1.85K		Direct	F11
holding	HOPE	Time-based Restricted Stock Units						3.42K	May 24, 2021	Common Stock	3.42K		Direct	F12

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Total 4,540 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 1,513 each will vest annually on May 19, 2022 and 2023, and 1,514 shares will vest on May 19, 2024.
F2	1,816 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	1,816 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	907 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 8,000 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 2,666 will vest on April 22, 2021, and 2,667 shares each will vest annually on April 22, 2022, and 2023.
F6	4,000 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	4,000 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 4,233 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 2,116 and 2,117 shares each will vest annually on March 6, 2021 and 2022 respectively.
F9	Total 3,698 RSU were granted on May 23, 2019 pursuant to the 2017 LTIP and 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installment of 1,232 shares will vest on May 23, 2020, and 1,233 shares each will vest annually on May 23, 2021, and 2022.
F10	1,849 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	1,849 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 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	Total 5,700 RSU were granted on February 28, 2019 pursuant to the 2016 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 1,140 shares each will vest annually over five years beginning February 28, 2020.