Form 4: Bank of Hawaii Director Acquires Shares via Deferred Comp Plan

Bank of Hawaii Director Robert W. Wo Jr. acquired 351 shares through a deferred compensation plan, increasing his beneficial ownership to 34,906 shares.

Summary

• Robert W. Wo Jr., a Director of Bank of Hawaii Corp (BOH), acquired 351 derivative securities on December 31, 2025.
• These securities were acquired through an investment election under the Directors' Deferred Compensation Plan.
• Each derivative security is convertible 1 for 1 into Common Stock at a price of $69.68.
• Following this transaction, Mr. Wo beneficially owns 34,906 derivative securities.
• Additional securities were acquired with reinvested dividends pursuant to Bank of Hawaii Corporation's Dividend Reinvestment and Stock Purchase Plan.

Sentiment

Score: 7

Explanation: The acquisition of shares by a director, particularly through a deferred compensation plan, generally indicates confidence in the company's future and aligns management interests with shareholders. This is a positive signal, though it's a routine transaction for deferred compensation.

Positives

• A director is increasing their beneficial ownership in the company, which can signal confidence in the company's future performance.
• The acquisition is part of a deferred compensation plan, aligning director interests with long-term shareholder value.

Future Outlook

The transaction reflects a director's ongoing participation in the company's deferred compensation plan, indicating a long-term investment perspective and continued alignment with the company's performance.

Management Comments

• The investment election by the reporting person is to acquire stock under the Directors' Deferred Compensation Plan.
• Distributions from the Directors' Deferred Compensation Plan are to be made at termination of service as a director or earlier at the director's option.

Industry Context

Director stock acquisitions, especially through deferred compensation plans, are common in the banking sector, aligning executive incentives with shareholder returns and demonstrating confidence in the institution's stability and growth prospects. This type of transaction is a standard mechanism for insider ownership.

Comparison to Industry Standards

• This type of insider transaction, where a director acquires shares through a deferred compensation plan, is a standard practice across the financial services industry.
• It aligns the director's financial interests with the long-term performance of the company, similar to practices at other regional banks like First Hawaiian Bank or Central Pacific Bank, where executive compensation often includes equity components.

Related Party Transactions

• Acquisition of derivative securities by Director Robert W. Wo Jr. through the Directors' Deferred Compensation Plan.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with shareholder value due to increased equity ownership.
• Employees: No direct impact from this specific transaction.
• Customers: No direct impact from this specific transaction.
• Suppliers: No direct impact from this specific transaction.
• Creditors: No direct impact from this specific transaction.

Next Steps

• Distributions from the Directors' Deferred Compensation Plan will occur at the termination of service as a director or earlier at the director's option.

Key Dates

Recommendation

This Form 4 filing reports a routine acquisition of shares by a director through a deferred compensation plan, which is a positive signal of insider confidence and alignment with shareholder interests. However, it does not present new fundamental information or significant changes to the company's financial outlook that would warrant a change in investment recommendation. It reinforces a 'hold' position for investors already in the stock, as it indicates stable insider commitment without providing a catalyst for a 'buy' or 'sell' decision.

Keywords

Bank of Hawaii, BOH, Form 4, Insider Trading, Director Stock Acquisition, Deferred Compensation, Equity Ownership, Financial Services, Banking