Form 4: First Hawaiian Inc. Executive Christopher L. Dods Reports Acquisition and Disposal of Common Stock

Christopher L. Dods, Vice Chair & Chief Operating Officer of First Hawaiian, Inc., reports the acquisition of 17,077 shares of common stock and disposal of 5,696 shares to cover withholding obligations.

Summary

• On February 18, 2025, Christopher L. Dods, Vice Chair & Chief Operating Officer of First Hawaiian, Inc., acquired 17,077 shares of common stock related to performance share units granted in 2022.
• These shares were earned based on performance-based vesting requirements over a three-year period ending December 31, 2024, and continued employment through the determination date.
• The Compensation Committee approved the amount of common stock earned on February 18, 2025, and settlement will occur no later than March 20, 2025.
• Additionally, 5,696 shares were disposed of on the same date to satisfy withholding obligations at a price of $27.79 per share.
• Following these transactions, Dods directly owns 79,572 shares of First Hawaiian, Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of shares indicates that performance targets were met, which is a positive signal. The disposal is simply a standard tax-related transaction.

Positives

• The acquisition of shares indicates that performance targets were met, reflecting positively on the company's performance over the three-year performance period.

Future Outlook

The document does not contain specific forward-looking statements about the company's future performance beyond the settlement of the performance share units.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry. It provides transparency into the alignment of executive incentives with company performance.

Comparison to Industry Standards

• Executive compensation packages including performance share units are common among publicly traded financial institutions like First Hawaiian, Inc.
• Comparable companies such as Bank of Hawaii Corporation (BOH) and Central Pacific Financial Corp (CPF) also utilize similar equity-based compensation strategies to incentivize their executives.
• The vesting criteria and performance metrics associated with these units are typically aligned with industry benchmarks for profitability, efficiency, and shareholder return.

Stakeholder Impact

• Shareholders may view the vesting of performance share units as a positive sign, indicating that the company has met certain performance goals.
• The transaction has a minor impact on the overall shareholding structure of the company.

Next Steps

• Settlement of the performance share units in shares of Common Stock no later than March 20, 2025.

Key Dates

Keywords

Form 4, Christopher L. Dods, First Hawaiian, Inc., FHB, Beneficial Ownership, Performance Share Units, Stock Acquisition, Stock Disposal, Executive Compensation