Form 4: Hope Bancorp SEVP & COO Peter Koh Reports Stock Disposal to Cover Tax Obligations
SEC Form 4
Peter Koh, SEVP & COO of Hope Bancorp, disposed of 560 shares of common stock on May 19, 2024, to cover tax liabilities related to vesting restricted stock units.
Summary
- On May 19, 2024, Peter Koh, the SEVP & COO of Hope Bancorp, filed a Form 4 indicating a change in beneficial ownership of the company's stock.
- Koh disposed of 560 shares of common stock at a price of $10.93 per share.
- This transaction was to cover tax liabilities incurred from the vesting of previously granted awards.
- Following the transaction, Koh directly owns 112,797 shares of Hope Bancorp common stock.
- Koh also holds performance-based restricted stock units (PRSUs) and incentive stock options, which represent the right to acquire additional shares of Hope Bancorp common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine transaction. 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 and their holdings in the company.
Key Dates
| Date | Description |
|---|---|
| 2016-09-01 | Grant date of incentive stock options at $17.18 per share. |
| 2021-09-01 | Incentive stock options fully vested. |
| 2022-01-01 | Start date for performance measurement for some PRSUs. |
| 2022-03-23 | Grant date of some performance-based restricted stock units (PRSUs). |
| 2022-12-31 | End date for performance measurement for some PRSUs. |
| 2023-01-01 | Start date for performance measurement for some PRSUs. |
| 2023-03-22 | Grant date of some performance-based restricted stock units (PRSUs). |
| 2023-12-31 | End date for performance measurement for some PRSUs. |
| 2024-05-19 | Date of stock disposal to cover tax liability. |
| 2024-12-31 | End date for performance measurement for some PRSUs. |
| 2025-12-31 | End date for performance measurement for some PRSUs. |
| 2026-09-01 | Expiration date of incentive stock options. |
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