Form 4: Bank of Hawaii CFO Dean Shigemura Files Form 4 Indicating Change in Reporting Status and 10b5-1 Plan

Bank of Hawaii Corp's Vice Chair and CFO, Dean Y. Shigemura, filed a Form 4 indicating he is no longer subject to Section 16 reporting obligations and has established a Rule 10b5-1 trading plan, with no transactions reported in this filing.

Summary

• Dean Y. Shigemura, Vice Chair and CFO of Bank of Hawaii Corp (BOH), filed a Form 4 with the SEC.
• The filing indicates that Mr. Shigemura is no longer subject to Section 16 of the Securities Exchange Act of 1934, which typically requires insiders to report changes in beneficial ownership.
• The document also states that any future transactions will be made pursuant to a Rule 10b5-1(c) plan, a pre-arranged trading plan designed to provide an affirmative defense against insider trading allegations.
• No acquisitions or dispositions of securities were reported in this specific Form 4 filing, as both Table I and Table II are empty.
• The "Date of Earliest Transaction" and the signature date are both listed as July 1, 2025.

Sentiment

Score: 5

Explanation: The document is a routine compliance filing with no reported transactions, indicating a neutral impact on company sentiment.

Positives

• The establishment of a Rule 10b5-1 plan enhances transparency and provides a structured approach for future insider stock transactions, mitigating potential insider trading concerns.

Future Outlook

The establishment of a Rule 10b5-1 plan suggests that Dean Y. Shigemura may engage in future pre-scheduled transactions involving Bank of Hawaii Corp equity securities, though no specific details or timelines for such transactions are provided in this filing.

Industry Context

This filing is a routine regulatory compliance document for a corporate executive, common across all publicly traded companies. The use of Rule 10b5-1 plans is a standard practice for insiders to manage their stock holdings in a compliant manner, reflecting broader trends in corporate governance and transparency.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: Provides transparency regarding the future trading intentions of a key executive through a pre-arranged plan, potentially reducing uncertainty related to insider stock movements.
• Regulatory Authorities: Ensures compliance with SEC reporting requirements for insider transactions and beneficial ownership.

Next Steps

• Future transactions by Dean Y. Shigemura under the Rule 10b5-1 plan will be reported in subsequent Form 4 or Form 5 filings, if applicable.

Key Dates

Keywords

SEC Form 4, Bank of Hawaii Corp, BOH, Dean Y. Shigemura, Vice Chair, CFO, Section 16, Rule 10b5-1, Beneficial Ownership, Insider Trading Plan, Corporate Governance