Form 4: First Hawaiian Inc. Vice Chairman Neill Char Reports Stock Transactions

Neill Char, Vice Chairman of First Hawaiian, Inc., reports acquisition and disposal of common stock related to performance share units.

Summary

• On February 23, 2024, Neill Char, Vice Chairman of First Hawaiian, Inc., reported transactions involving the company's common stock.
• Char acquired 5,243 shares of common stock at $0 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.
• The Compensation Committee approved the amount of stock earned on February 23, 2024, with settlement due by March 24, 2024.
• Additionally, 1,691 shares were disposed of at $21.16 to cover withholding obligations related to the share unit delivery.
• Following these transactions, Char directly owns 22,887 shares of First Hawaiian, Inc. common stock.

Sentiment

Score: 6

Explanation: The document reflects routine insider transactions related to compensation. It's neutral in sentiment as it simply reports facts.

Positives

• The vesting of performance share units indicates that performance goals were met over the three-year 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 of stock transactions by a company insider, which is common in the financial industry. It provides transparency into the actions of key personnel and their holdings in the company.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards, such as the performance share units in this case.
• Companies like Bank of Hawaii and Central Pacific Financial Corp also use similar equity-based compensation strategies to align executive incentives with shareholder value.
• The vesting and settlement timelines are typical for these types of awards.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine compensation-related activities.
• Employees who are also shareholders may be interested in the details of the performance share unit vesting.

Key Dates