Annual Statement of Changes in Beneficial Ownership (5)
February 11 2022 - 5:40PM
Edgar (US Regulatory)
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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Form 3 Holdings Reported
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Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Kim Kevin Sung | 2. Issuer Name and Ticker or Trading SymbolHOPE BANCORP INC [HOPE] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman & CEO |
(Last)
(First)
(Middle)
3200 WILSHIRE BLVD., SUITE 1400 | 3. Statement for Issuer's Fiscal Year Ended (MM/DD/YYYY) 12/31/2021 |
(Street)
LOS ANGELES, CA 90010
(City)
(State)
(Zip)
| 4. If Amendment, Date Original Filed(MM/DD/YYYY) | 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3) | 2. Trans. Date | 2A. Deemed Execution Date, if any | 3. Trans. Code (Instr. 8) | 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) |
Amount | (A) or (D) | Price |
Common Stock | | | | | | | 746672 (1) | D | |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (MM/DD/YYYY) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
(A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Performance-based Restricted Stock Units | | | | | | | (2) | (2) | Common Stock | 16699 | | 16699 | D | |
Performance-based Restricted Stock Units | | | | | | | (3) | (3) | Common Stock | 16699 | | 16699 | D | |
Performance-based Restricted Stock Units | | | | | | | (4) | (4) | Common Stock | 8349 | | 8349 | D | |
Performance-based Restricted Stock Units | | | | | | | (5) | (5) | Common Stock | 37658 | | 37658 | D | |
Performance-based Restricted Stock Units | | | | | | | (6) | (6) | Common Stock | 37658 | | 37658 | D | |
Performance-based Restricted Stock Units | | | | | | | (7) | (7) | Common Stock | 21958 | | 21958 | D | |
Performance-based Restricted Stock Units | | | | | | | (8) | (8) | Common Stock | 21958 | | 21958 | D | |
Incentive Stock Option (right to buy) | $17.18 | | | | | | (9) | 9/1/2026 | Common Stock | 60000 | | 60000 | D | |
Non-qualified Stock Option (right to buy) | $15.88 | | | | | | (10) | 4/11/2024 | Common Stock | 170000 | | 170000 | D | |
Employee Stock Option (right to buy) | $16.12 | | | | | | (11) | 5/26/2026 | Common Stock | 30660 | | 30660 | D | |
Explanation of Responses: |
(1) | Total amount of securities beneficially owned in Column 5 of Table I in this Form 5 includes all of the reporting owner's unvested Restricted
Stock Units ("RSU") granted on May 19, 2021, April 22, 2020 and May 23, 2019 pursuant to the HOPE Bancorp, Inc. 2019 Incentive
Compensation Plan ("2019 ICP") previously reported in Table II. Outstanding RSU shares will vest according to previously disclosed vesting
schedules. The amount also includes 757 shares acquired in August 2021 under the Bank of Hope Employee Stock Purchase Plan in
transactions that were exempt under both Rule 16b-3(d) and Rule 16b-3(c), as well as Rule 16a-3(f)(1)(i)(B). |
(2) | 16,699 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. |
(3) | 16,699 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. |
(4) | 8,349 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. |
(5) | 37,658 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. |
(6) | 37,658 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. |
(7) | 21,958 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. |
(8) | 21,958 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. |
(9) | 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. |
(10) | Non-qualified stock options granted on June 27, 2014 under the BBCN Bancorp Inc. 2007 Equity Incentive Plan. These options were fully
vested as of April 11, 2019. |
(11) | Non-qualified stock options granted on May 26, 2016 under the BBCN Bancorp Inc. 2007 Equity Incentive Plan. These options were fully vested
as of April 11, 2019. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Kim Kevin Sung 3200 WILSHIRE BLVD. SUITE 1400 LOS ANGELES, CA 90010 | X |
| Chairman & CEO |
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Signatures
|
/s/Claire Hur as AIF for Kevin Kim | | 2/11/2022 |
**Signature of Reporting Person | Date |
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