Form 4: First Hawaiian, Inc. CEO Robert Harrison Reports Stock Award and Tax Withholding

Robert Harrison, CEO of First Hawaiian, Inc., reports the acquisition of shares from performance share units and the subsequent withholding of shares to cover tax obligations.

Summary

• Robert Harrison, the Chairman, President, and CEO of First Hawaiian, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On February 23, 2024, Harrison acquired 49,644 shares of common stock related to performance share units granted in 2021.
• These units vested based on performance over a three-year period ending December 31, 2023, and continued employment.
• On the same day, 16,368 shares were withheld to satisfy tax obligations related to the share issuance at a price of $21.16 per share.
• Following these transactions, Harrison directly owns 373,970 shares of First Hawaiian, Inc.
• The performance share units will be settled in shares of Common Stock no later than March 24, 2024.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and achievement of performance goals, suggesting a neutral to slightly positive sentiment.

Positives

• The vesting of performance share units indicates that performance goals were met over the three-year performance period.

Future Outlook

The performance share units will be settled in shares of Common Stock no later than March 24, 2024.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Stakeholder Impact

• The vesting of performance share units reflects positively on the company's performance, potentially benefiting shareholders.
• The transaction has a minor impact on the total number of shares outstanding.

Next Steps

• Settlement of performance share units in shares of Common Stock no later than March 24, 2024.

Key Dates