Cathay General Bancorp Files Definitive Proxy Statement

Ticker: CATY · Form: DEF 14A · Filed: Apr 11, 2024 · CIK: 861842

Cathay General Bancorp DEF 14A Filing Summary
FieldDetail
CompanyCathay General Bancorp (CATY)
Form TypeDEF 14A
Filed DateApr 11, 2024
Risk Levellow
Pages16
Reading Time19 min
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Cathay General Bancorp, CATY, Executive Compensation

TL;DR

<b>Cathay General Bancorp has filed its Definitive Proxy Statement for the upcoming shareholder meeting.</b>

AI Summary

CATHAY GENERAL BANCORP (CATY) filed a Proxy Statement (DEF 14A) with the SEC on April 11, 2024. Cathay General Bancorp (CATY) filed a Definitive Proxy Statement (DEF 14A) on April 11, 2024. The filing covers the period ending May 13, 2024. The company's principal executive offices are located at 777 N Broadway, Los Angeles, CA. The filing includes information related to executive compensation, specifically equity values for current and non-principal executive officers. The fiscal year end for Cathay General Bancorp is December 31.

Why It Matters

For investors and stakeholders tracking CATHAY GENERAL BANCORP, this filing contains several important signals. This filing is crucial for shareholders to understand executive compensation structures and potential changes before voting on related proposals. As a DEF 14A, it provides detailed information required by the SEC for public companies, impacting investor decisions and corporate governance.

Risk Assessment

Risk Level: low — CATHAY GENERAL BANCORP shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard disclosure practices rather than immediate material events.

Analyst Insight

Review the executive compensation details and any proposed shareholder actions within the proxy statement to make informed voting decisions.

Key Numbers

  • 2024-04-11 — Filing Date (DEF 14A)
  • 2024-05-13 — Period of Report (DEF 14A)
  • 1231 — Fiscal Year End (Company Data)
  • 6022 — Standard Industrial Classification (Company Data)

Key Players & Entities

  • CATHAY GENERAL BANCORP (company) — Registrant Name
  • CATY (company) — Ticker Symbol
  • DEF 14A (regulator) — Form Type
  • 2024-04-11 (date) — Filing Date
  • 777 N Broadway (address) — Business Address
  • LOS ANGELES (location) — Business Address City
  • CA (location) — Business Address State
  • 90012 (postal_code) — Business Address Zip

FAQ

When did CATHAY GENERAL BANCORP file this DEF 14A?

CATHAY GENERAL BANCORP filed this Proxy Statement (DEF 14A) with the SEC on April 11, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by CATHAY GENERAL BANCORP (CATY).

Where can I read the original DEF 14A filing from CATHAY GENERAL BANCORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by CATHAY GENERAL BANCORP.

What are the key takeaways from CATHAY GENERAL BANCORP's DEF 14A?

CATHAY GENERAL BANCORP filed this DEF 14A on April 11, 2024. Key takeaways: Cathay General Bancorp (CATY) filed a Definitive Proxy Statement (DEF 14A) on April 11, 2024.. The filing covers the period ending May 13, 2024.. The company's principal executive offices are located at 777 N Broadway, Los Angeles, CA..

Is CATHAY GENERAL BANCORP a risky investment based on this filing?

Based on this DEF 14A, CATHAY GENERAL BANCORP presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard disclosure practices rather than immediate material events.

What should investors do after reading CATHAY GENERAL BANCORP's DEF 14A?

Review the executive compensation details and any proposed shareholder actions within the proxy statement to make informed voting decisions. The overall sentiment from this filing is neutral.

How does CATHAY GENERAL BANCORP compare to its industry peers?

Cathay General Bancorp operates within the commercial banking sector, providing financial services.

Are there regulatory concerns for CATHAY GENERAL BANCORP?

The filing is made in accordance with Section 14(a) of the Securities Exchange Act of 1934, requiring public companies to provide shareholders with information for voting.

Industry Context

Cathay General Bancorp operates within the commercial banking sector, providing financial services.

Regulatory Implications

The filing is made in accordance with Section 14(a) of the Securities Exchange Act of 1934, requiring public companies to provide shareholders with information for voting.

What Investors Should Do

  1. Review the detailed executive compensation disclosures in the proxy statement.
  2. Understand the proposals being presented to shareholders for a vote.
  3. Assess the company's governance practices as outlined in the filing.

Year-Over-Year Comparison

This is a routine DEF 14A filing, providing updated information for the current reporting period.

Filing Stats: 4,777 words · 19 min read · ~16 pages · Grade level 12.8 · Accepted 2024-04-11 16:31:38

Filing Documents

SECURITY OWNERSHIP INFORMATION

SECURITY OWNERSHIP INFORMATION 4 Certain Beneficial Owners 4 Directors and Executive Officers 5 Section 16(A) Beneficial Ownership Reporting Compliance 6 PROPOSAL ONE – ELECTION OF DIRECTORS 7 Nominees, Continuing Directors, and Executive Officers 8 BOARD OF DIRECTORS AND CORPORATE GOVERNANCE 14 Meetings 14 Board Leadership 14 Risk Management Oversight 14 Director Independence 15 Board Diversity 15 Board Committee Structure 18 Audit Committee 18 Compensation Committee 18 Investment Committee 19 Nomination and Governance Committee 19 Risk Committee 20 Stock Ownership of Directors 20 Compensation of Directors 20

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 22 Compensation Committee Interlocks and Insider Participation 32 Compensation Committee Report 32 Remuneration of Executive Officers 33 Pension Benefits 36 Employment Agreement 36 Nonqualified Deferred Compensation 37 POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL 38 PAY RATIO OF CEO TO MEDIAN EMPLOYEE 43 PAY VERSUS PERFORMANCE COMPARISION 44 PROPOSAL TWO – ADVISORY (NON-BINDING) VOTE TO APPROVE OUR EXECUTIVE COMPENSATION 48 PROPOSAL THREE – RATIFICATION OF THE APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 48 PRINCIPAL ACCOUNTING FEES AND SERVICES 49 AUDIT COMMITTEE REPORT 50 INCORPORATION OF CERTAIN INFORMATION 51 TRANSACTIONS WITH RELATED PERSONS, PROMOTERS AND CERTAIN CONTROL PERSONS 52 CODE OF ETHICS 53 ENVIRONMENTAL, SOCIAL AND GOVERNANCE 53 COMMUNICATIONS WITH BOARD OF DIRECTORS 53 AVAILABILITY OF ANNUAL REPORT ON FORM 10-K AND STOCKHOLDERS LIST 53 DELIVERY OF DOCUMENTS TO STOCKHOLDERS SHARING AN ADDRESS 53 STOCKHOLDER PROPOSALS FOR 2025 ANNUAL MEETING OF STOCKHOLDERS 54 i Table of Contents PROXY STATEMENT SUMMARY This summary highlights information contained elsewhere in this proxy statement. This summary is designed as an aid and does not contain all of the information that you should consider in deciding how to vote. As such, you should read this entire proxy statement carefully before voting. Annual Meeting of Stockholders Date and Time: Record Date: Monday, May 13, 2024, 5:00 p.m., Pacific Time March 15, 2024 Place: Virtual meeting link www.virtualshareholdermeeting.com/CATY2024 You must enter the control number on your proxy card. Voting: Holders of record of our common stock at the close of business on the record date. Attendance: Stockholders as of the record date and their duly appointed proxies may attend the annual meeting remotely. Proposals and Voting Recommendations Proposal Board Reco

SECURITY OWNERSHIP INFORMATION

SECURITY OWNERSHIP INFORMATION Certain Beneficial Owners Based on the contents of reports filed with SEC pursuant to Sections 13(d) and 13(g) of the Exchange Act, we believe the entities listed below are the only beneficial owners of more than five percent of our common stock as of March 15, 2024. Name and Address of Beneficial Owner Amount and Nature of Beneficial Ownership of Common Stock Percentage of Common Stock Beneficially Owned 1/ BlackRock, Inc. 10,656,594 2/ 14.66% 50 Hudson Yards, New York, NY 10001 The Vanguard Group, Inc. 8,254,816 3/ 11.36% 100 Vanguard Blvd., Malvern, PA 19355 Dimensional Fund Advisors LP 3,850,589 4/ 5.30% 6300 Bee Cave Road, Building One, Austin, TX 78746 3,687,347 5/ 5.07% 1/ The ownership percentage is determined by dividing the number of shares shown in this table by the 72,688,191 shares of Bancorp common stock outstanding as of March 15, 2024. 2/ All information regarding BlackRock, Inc. is based on an amendment to Schedule 13G filed with the SEC on January 22, 2024. BlackRock, Inc., a parent holding company, reported that through its subsidiaries, BlackRock Life Limited, BlackRock Advisors, LLC, Aperio Group, LLC, BlackRock (Netherlands) B.V., BlackRock Fund Advisors, BlackRock Institutional Trust Company, N.A., BlackRock Asset Management Ireland Limited, BlackRock Financial Management, Inc., BlackRock Asset Management Schweiz AG, BlackRock Investment Management, LLC, BlackRock Investment Management (UK) Limited, BlackRock Asset Management Canada Limited, BlackRock Investment Management (Australia) Limited, and BlackRock Fund Managers Ltd, it had sole dispositive power over all the shares indicated and sole voting power over 10,484,125 shares. 3/ All information regarding The Vanguard Group, Inc. is based on an amendment to Schedule 13G filed with the SEC on February 13, 2024. The Vang

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