Jason K. Kim - 24 Apr 2023 Form 4 Insider Report for HOPE BANCORP INC (HOPE)

Role
SEVP, Western Regional Pres.
Signature
/s/Claire Hur as attorney-in-fact for Jason K. Kim
Issuer symbol
HOPE
Transactions as of
24 Apr 2023
Net transactions value
-$11,115
Form type
4
Filing time
26 Apr 2023, 19:25:23 UTC
Previous filing
27 Mar 2023
Next filing
23 May 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HOPE Common Stock Tax liability $11,115 -1,153 -1.1% $9.64 104,051 24 Apr 2023 Direct F1
holding HOPE Common Stock 4,677 24 Apr 2023 By spouse

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
holding HOPE Performance-based Restricted Stock Units 3,287 24 Apr 2023 Common Stock 3,287 Direct F2
holding HOPE Performance-based Restricted Stock Units 3,287 24 Apr 2023 Common Stock 3,287 Direct F3
holding HOPE Performance-based Restricted Stock Units 1,643 24 Apr 2023 Common Stock 1,643 Direct F4
holding HOPE Performance-based Restricted Stock Units 2,171 24 Apr 2023 Common Stock 2,171 Direct F5
holding HOPE Performance-based Restricted Stock Units 2,171 24 Apr 2023 Common Stock 2,171 Direct F6
holding HOPE Performance-based Restricted Stock Units 1,086 24 Apr 2023 Common Stock 1,086 Direct F7
holding HOPE Performance-based Restricted Stock Units 1,946 24 Apr 2023 Common Stock 1,946 Direct F8
holding HOPE Performance-based Restricted Stock Units 1,946 24 Apr 2023 Common Stock 1,946 Direct F9
holding HOPE Performance-based Restricted Stock Units 972 24 Apr 2023 Common Stock 972 Direct F10
holding HOPE Incentive Stock Option (right to buy) 30,000 24 Apr 2023 Common Stock 30,000 $17.18 Direct F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares disposed to satisfy the Reporting Person's tax liability incurred by the vesting of a previously granted award.
F2 3,287 performance-based restricted stock units ("PRSU") were granted on March 22, 2023 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, 2023 through December 31, 2025. 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 3,287 PRSU were granted on March 22, 2023 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, 2023 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 1,643 PRSU were granted on March 22, 2023 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, 2023 through December 31, 2025. 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 2,171 PRSU were granted on March 23, 2022 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, 2022 through December 31, 2024. 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 2,171 PRSU were granted on March 23, 2022 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, 2022 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 1,086 PRSU were granted on March 23, 2022 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, 2022 through December 31, 2024. 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 1,946 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.
F9 1,946 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.
F10 972 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.
F11 Non-qualified stock options granted on September 1, 2016 pursuant to the 2016 ICP. These options were fully vested as of September 1, 2021.