Form 4: First Hawaiian, Inc. Executive Darlene N. Blakeney Reports Stock Award and Tax Withholding

EVP & Chief Lending Officer Darlene N. Blakeney of First Hawaiian, Inc. reports acquisition of stock awards and shares withheld for tax obligations.

Summary

• On February 18, 2025, Darlene N. Blakeney, EVP & Chief Lending Officer of First Hawaiian, Inc., acquired 1,557 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.
• The Compensation Committee approved the share amount on February 18, 2025, with settlement due by March 20, 2025.
• 585 shares were withheld on February 18, 2025 at $27.79 to cover tax obligations related to the stock award.
• Following these transactions, Blakeney directly owns 14,104 shares of First Hawaiian, Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The vesting of performance share units suggests the company met its performance goals. The filing itself is a routine disclosure.

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 20, 2025.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity holdings of key personnel.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards to align management's interests with those of shareholders.
• The vesting schedule and performance metrics are company-specific and designed to incentivize long-term value creation.
• Tax withholding practices are standard across the industry to ensure compliance with tax regulations.
• Comparable companies such as Bank of Hawaii Corporation (BOH) and Central Pacific Financial Corp. (CPF) also utilize similar equity compensation structures for their executives.

Stakeholder Impact

• Shareholders benefit from transparency regarding executive compensation.
• Employees may be motivated by the performance-based compensation structure.

Key Dates

Keywords

Form 4, First Hawaiian, Inc., Darlene N. Blakeney, Stock Award, Performance Share Units, Beneficial Ownership, Tax Withholding, FHB