David Malone - May 23, 2023 Form 4 Insider Report for HOPE BANCORP INC (HOPE)

Role: Interim CFO, Director
Signature: /s/Claire Hur as attorney-in-fact for David Malone
Stock symbol: HOPE
Transactions as of: May 23, 2023
Transactions value $: $61,198
Form type: 4
Date filed: 5/25/2023, 06:54 PM
Previous filing: Apr 26, 2023
Next filing: Mar 19, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HOPE	Common Stock	Award	$61.2K	+7.12K	+7.26%	$8.60	105K	May 23, 2023	Direct	F1

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						4.54K	May 23, 2023	Common Stock	4.54K		Direct	F2
holding	HOPE	Performance-based Restricted Stock Units						4.54K	May 23, 2023	Common Stock	4.54K		Direct	F3
holding	HOPE	Performance-based Restricted Stock Units						2.27K	May 23, 2023	Common Stock	2.27K		Direct	F4
holding	HOPE	Non-qualified stock option (right to buy)						20K	May 23, 2023	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	Total 7,116 Restricted Stock Units (RSU) were granted on May 23, 2023 pursuant to the HOPE Bancorp, Inc. 2019 Incentive Compensation Plan ("2019 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. 7,116 shares will vest either on the one-year anniversary of grant date or the date of the next Hope Bancorp stockholders meeting, whichever is earlier.
F2	4,540 PRSU were granted on May 19, 2021 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("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	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.
F4	2,269 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	Non-qualified stock options granted on September 1, 2016 pursuant to the 2016 ICP. 1/3 of the options vested immediately on the grant date, with the remaining 2/3 vesting in two equal annual installments thereafter.