Form 4: First Hawaiian Inc. Executive Christopher L. Dods Reports Stock Transactions

Christopher L. Dods, Vice Chair & Chief Operating Officer of First Hawaiian, Inc., reports acquisition and disposal of company stock related to performance share units.

Summary

• On February 23, 2024, Christopher L. Dods, Vice Chair & Chief Operating Officer of First Hawaiian, Inc. (FHB), reported transactions involving the company's common stock.
• Dods acquired 6,431 shares of common stock related to performance share units granted in 2021, which vested based on performance over a three-year period ending December 31, 2023.
• These shares were awarded at a price of $0.
• Concurrently, Dods disposed of 2,074 shares to cover withholding obligations at a price of $21.16 per share.
• Following these transactions, Dods beneficially owns 54,226 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: 6

Explanation: The sentiment is neutral. It reflects a routine transaction related to executive compensation. The vesting of performance shares suggests targets were met, which is mildly positive, but the sale of shares to cover taxes is a standard procedure.

Positives

• The vesting of performance share units suggests that performance goals were met, which could be viewed positively.

Future Outlook

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

Industry Context

Executive stock transactions are common and often tied to performance-based compensation. This filing provides transparency into executive holdings and compensation structures within First Hawaiian, Inc.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards like the performance share units described in this filing.
• Companies like Bank of Hawaii (BOH) and Central Pacific Financial Corp (CPF) also utilize similar compensation strategies to align executive incentives with shareholder value.
• The vesting criteria and holding periods for these awards are generally aligned with industry best practices to ensure long-term commitment and performance.

Stakeholder Impact

• The vesting of performance share units aligns executive interests with shareholder value.
• The transactions have a minor impact on the overall shareholding structure.

Key Dates