Form 4: Hope Bancorp SEVP & COO Peter Koh Disposes of Shares to Cover Tax Obligations

Peter Koh, SEVP & COO of Hope Bancorp, disposed of shares to cover tax liabilities related to the vesting of previously granted awards.

Summary

• On March 22, 2024, Peter Koh, the SEVP & COO of Hope Bancorp, disposed of shares of common stock to cover tax liabilities.
• The transactions involved the disposal of 628, 914, 1,132, and 1,415 shares at a price of $11.03 each.
• Following these transactions, Koh directly owns 113,357 shares of Hope Bancorp common stock.
• The disposed shares were related to the vesting of performance-based restricted stock units (PRSUs) granted between March 2022 and March 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 relative to its peers and its achievement of specific earnings per share and return on common tangible equity targets.

Sentiment

Score: 5

Explanation: This is a routine filing related to tax obligations, so the sentiment is neutral.

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.

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 reason for the disposal.

Key Dates