Form 4: Hope Bancorp EVP Angelee Harris Disposes of Shares to Cover Tax Obligations

Angelee Harris, EVP and General Counsel of Hope Bancorp, disposed of shares to cover tax liabilities arising from the vesting of previously granted awards.

Summary

• On March 22, 2024, Angelee Harris, EVP and General Counsel of Hope Bancorp, disposed of common stock to cover tax liabilities.
• The transactions involved the disposal of 406, 643, 701, and 1,231 shares of common stock at a price of $11.03 per share.
• Following these transactions, Harris directly owns 23,113 shares of Hope Bancorp common stock.
• The transactions are related to the vesting of performance-based restricted stock units (PRSUs) granted in 2022 and 2023 under the company's Long-Term Incentive Plan (LTIP) and Incentive Compensation Plan (ICP).
• The vesting of these PRSUs is contingent upon Hope Bancorp's performance against specific metrics, including total stockholder return, earnings per share, and return on common tangible equity, relative to a peer group or against internal budget targets.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The disposal of shares to cover tax obligations is a common practice among executives who receive equity compensation.

Stakeholder Impact

• The disposal of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the routine nature of the transaction.

Key Dates