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HOPE Hope Bancorp Inc

13.00
-0.52 (-3.85%)
30 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hope Bancorp Inc NASDAQ:HOPE NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.52 -3.85% 13.00 12.00 13.00 13.59 12.925 13.46 1,864,266 00:59:59

Statement of Changes in Beneficial Ownership (4)

26/05/2020 9:54pm

Edgar (US Regulatory)


FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Kim Kevin Sung
2. Issuer Name and Ticker or Trading Symbol

HOPE BANCORP INC [ HOPE ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chairman, President & CEO
(Last)          (First)          (Middle)

3200 WILSHIRE BLVD., SUITE 1400
3. Date of Earliest Transaction (MM/DD/YYYY)

5/25/2020
(Street)

LOS ANGELES, CA 90010
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 5/25/2020  M  14639 A$8.97 606939 D  
Common Stock 5/25/2020  F  5029 D$8.97 601910 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Time-based Restricted Stock Units  (1)           (1) (1)Common Stock 75315  75315 D  
Performance-based Restricted Stock Units  (2)           (2) (2)Common Stock 37658  37658 D  
Performance-based Restricted Stock Units  (3)           (3) (3)Common Stock 37658  37658 D  
Time-based Restricted Stock Units  (4)5/25/2020  M     14639   (4) (4)Common Stock 29278 $8.97 29278 D  
Performance-based Restricted Stock Units  (5)           (5) (5)Common Stock 21958  21958 D  
Performance-based Restricted Stock Units  (6)           (6) (6)Common Stock 21958  21958 D  
Time-based Restricted Stock Units  (7)           (7) (7)Common Stock 11421  11421 D  
Performance-based Restricted Stock Units  (8)           (8) (8)Common Stock 17131  17131 D  
Performance-based Restricted Stock Units  (9)           (9) (9)Common Stock 17130  17130 D  
Time-based Restricted Stock Units  (10)           (10) (10)Common Stock 9552  9552 D  
Incentive stock option (right to buy) $17.18            (11)9/1/2026 Common Stock 60000  60000 D  
Non-qualified Stock Option (right to buy) $15.88            (12)4/11/2024 Common Stock 170000  170000 D  
Employee Stock Option (right to buy) $16.12            (13)5/26/2026 Common Stock 30660  30660 D  

Explanation of Responses:
(1) Total 75,315 Restricted Stock Units (RSU) were granted on April 22, 2020 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("2017 LTIP") and the Hope Bancorp, Inc. 2020 Incentive Compensation Plan ("2020 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 25,105 shares each will vest annually on April 22, 2021, 2022, and 2023.
(2) 37,658 performance-based restricted stock units ("PRSU") were granted on April 22, 2020 pursuant to the 2017 LTIP and 2020 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative ranking of the total stockholder return in relation to the KRX Index over an 11-quarter period from April 1, 2020 through December 31, 2022. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.
(3) 37,658 PRSU were granted on April 22, 2020 pursuant to the 2017 LTIP and 2020 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative return on average assets in relation to the KRX Index over an 11-quarter period from April 1, 2020 through December 31, 2022. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.
(4) Total 43,917 RSU were granted on May 23, 2019 pursuant to the 2017 LTIP and the 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 14,639 shares each will vest annually on May 23, 2020, 2021, and 2022.
(5) 21,958 PRSU were granted on May 23, 2019 pursuant to the 2017 LTIP and 2019 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative return on average assets in relation to the KRX Index during the 11-quarter period from April 1, 2019 through December 31, 2021. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.
(6) 21,958 PRSU were granted on May 23, 2019 pursuant to the 2017 LTIP and 2019 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative ranking of the total stockholder return in relation to the KRX Index over an 11-quarter period from April 1, 2019 through December 31, 2021. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.
(7) Total 34,261 RSU were granted on April 26, 2018 pursuant to the 2017 LTIP and 2016 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 11,420 shares will each vest annually on April 26, 2019 and 2020, and 11,421 shares will vest on April 26, 2021.
(8) 17,131 PRSU were granted on April 26, 2018 pursuant to the 2017 LTIP and the 2016 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU depends upon Hope's achievement of a specified increase in the cumulative quarterly earnings per share during the 11-quarter period from April 1, 2018 through December 31, 2020. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.
(9) 17,130 PRSU were granted on April 26, 2018 pursuant to the 2017 LTIP and the 2016 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative ranking of the total stockholder return in relation to the KRX Index over a 11-quarter period from April 1, 2018 through December 31, 2020. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.
(10) Total 28,656 RSU were granted on June 26, 2017 pursuant to 2017 LTIP and 2016 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 9,552 shares each will vest on June 26, 2018, 2019, and 2020.
(11) Non-qualified stock options were granted on September 1, 2016 pursuant to the 2016 ICP, formerly known as the BBCN Bancorp, Inc. 2016 Incentive Compensation Plan. These options were fully vested as of September 1, 2018.
(12) Non-qualified stock options granted on June 27, 2014 under the BBCN Bancorp Inc. 2007 Equity Incentive Plan. These options were fully vested as of April 11, 2019.
(13) Non-qualified stock options granted on May 26, 2016 under the BBCN Bancorp Inc. 2007 Equity Incentive Plan. These options were fully vested as of April 11, 2019.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Kim Kevin Sung
3200 WILSHIRE BLVD.
SUITE 1400
LOS ANGELES, CA 90010
X
Chairman, President & CEO

Signatures
/s/by Claire Hur as AIF for Kevin Sung Kim5/26/2020
**Signature of Reporting PersonDate

1 Year Hope Bancorp Chart

1 Year Hope Bancorp Chart

1 Month Hope Bancorp Chart

1 Month Hope Bancorp Chart