Form 4: First Hawaiian Inc. Executive Lea M. Nakamura Reports Changes in Beneficial Ownership

EVP & Chief Risk Officer of First Hawaiian, Lea M. Nakamura, reports acquisition and disposal of common stock related to performance share units.

Summary

• Lea M. Nakamura, EVP & Chief Risk Officer of First Hawaiian, Inc., filed a Form 4 on February 27, 2024.
• The report details changes in beneficial ownership of First Hawaiian, Inc. common stock.
• On February 23, 2024, Nakamura acquired 1,903 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.
• Also on February 23, 2024, 715 shares were disposed of to satisfy withholding obligations related to the share unit delivery at a price of $21.16.
• Following these transactions, Nakamura beneficially owns 10,375 shares of First Hawaiian, Inc. common stock.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

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 the financial services industry.

Comparison to Industry Standards

• Executive compensation practices, including performance-based equity awards, are common across the financial services industry.
• Companies like Bank of Hawaii (BOH) and Central Pacific Financial Corp (CPF) also utilize similar equity-based compensation plans for their executives.
• The vesting criteria and holding periods are generally aligned with industry norms to incentivize long-term performance and retention.

Stakeholder Impact

• The transaction impacts shareholders by increasing the number of outstanding shares, although the effect is likely minimal given the relatively small number of shares involved.
• Employees may be impacted through the compensation structure and incentives provided by performance share units.

Key Dates