HOPE BANCORP INC. Files Definitive Proxy Statement (DEF 14A)

Ticker: HOPE · Form: DEF 14A · Filed: Apr 12, 2024 · CIK: 1128361

Hope Bancorp Inc DEF 14A Filing Summary
FieldDetail
CompanyHope Bancorp Inc (HOPE)
Form TypeDEF 14A
Filed DateApr 12, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$19.1 billion
Sentimentneutral

Sentiment: neutral

Topics: HOPE BANCORP, DEF 14A, Proxy Statement, Executive Compensation, Corporate Governance

TL;DR

<b>HOPE BANCORP INC. has filed its Definitive Proxy Statement (DEF 14A) for the fiscal year ending December 31, 2023.</b>

AI Summary

HOPE BANCORP INC (HOPE) filed a Proxy Statement (DEF 14A) with the SEC on April 12, 2024. HOPE BANCORP INC. filed a Definitive Proxy Statement (DEF 14A) on April 12, 2024. The filing covers the fiscal year ending December 31, 2023. The company was formerly known as BBCN BANCORP INC. and NARA BANCORP INC. The filing includes detailed compensation information for executive and non-executive members. It references financial data for fiscal years 2020, 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking HOPE BANCORP INC, this filing contains several important signals. This DEF 14A filing is crucial for shareholders as it outlines executive compensation, board nominations, and other corporate governance matters to be voted on at the upcoming annual meeting. Understanding the details within this proxy statement allows investors to make informed decisions regarding their voting rights and the strategic direction of HOPE BANCORP INC.

Risk Assessment

Risk Level: low — HOPE BANCORP INC shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant strategic shifts.

Analyst Insight

Shareholders should review the executive compensation and board proposals within the DEF 14A to make informed voting decisions.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Conformed period of report)
  • 2024-04-12 — Filing Date (Date of filing)
  • 000-50245 — SEC File Number (SEC file number for HOPE BANCORP INC.)
  • 2011-12-07 — Date of Name Change (Date HOPE BANCORP INC. changed from BBCN BANCORP INC.)
  • 2000-11-15 — Date of Name Change (Date NARA BANCORP INC. became part of the company history)

Key Players & Entities

  • HOPE BANCORP INC. (company) — Filer
  • BBCN BANCORP INC. (company) — Former company name
  • NARA BANCORP INC. (company) — Former company name
  • 2024-04-12 (date) — Filing date
  • 2023-12-31 (date) — Fiscal year end

FAQ

When did HOPE BANCORP INC file this DEF 14A?

HOPE BANCORP INC filed this Proxy Statement (DEF 14A) with the SEC on April 12, 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 HOPE BANCORP INC (HOPE).

Where can I read the original DEF 14A filing from HOPE BANCORP INC?

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 HOPE BANCORP INC.

What are the key takeaways from HOPE BANCORP INC's DEF 14A?

HOPE BANCORP INC filed this DEF 14A on April 12, 2024. Key takeaways: HOPE BANCORP INC. filed a Definitive Proxy Statement (DEF 14A) on April 12, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company was formerly known as BBCN BANCORP INC. and NARA BANCORP INC..

Is HOPE BANCORP INC a risky investment based on this filing?

Based on this DEF 14A, HOPE BANCORP INC presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant strategic shifts.

What should investors do after reading HOPE BANCORP INC's DEF 14A?

Shareholders should review the executive compensation and board proposals within the DEF 14A to make informed voting decisions. The overall sentiment from this filing is neutral.

How does HOPE BANCORP INC compare to its industry peers?

HOPE BANCORP INC. operates within the National Commercial Banks industry (SIC 6021).

Are there regulatory concerns for HOPE BANCORP INC?

As a publicly traded company, HOPE BANCORP INC. is subject to SEC regulations and reporting requirements, including the filing of DEF 14A statements.

Industry Context

HOPE BANCORP INC. operates within the National Commercial Banks industry (SIC 6021).

Regulatory Implications

As a publicly traded company, HOPE BANCORP INC. is subject to SEC regulations and reporting requirements, including the filing of DEF 14A statements.

What Investors Should Do

  1. Review the detailed executive compensation breakdown for PEO and Non-PEO members for fiscal years 2020-2021.
  2. Examine any proposals related to board nominations and director elections.
  3. Understand the voting procedures and deadlines outlined in the proxy statement.

Key Dates

  • 2024-04-12: Filing of DEF 14A — Indicates the company is providing its annual proxy statement to shareholders.
  • 2023-12-31: Fiscal Year End — Defines the period for which financial and operational information is reported.

Year-Over-Year Comparison

This filing is a DEF 14A, which is a standard annual proxy statement. No specific comparative data from a previous filing is directly presented in the provided text.

Filing Stats: 4,402 words · 18 min read · ~15 pages · Grade level 13.7 · Accepted 2024-04-12 16:02:32

Key Financial Figures

  • $19.1 billion — American bank in the United States with $19.1 billion in total assets as of December 31, 2023

Filing Documents

Executive Compensation Tables

Executive Compensation Tables 72 Other Information About Compensation 83 CEO to Median Employee Pay Ratio 83 Pay Versus Performance Disclosure 84

SECURITY OWNERSHIP OF DIRECTORS, EXECUTIVE OFFICERS AND CERTAIN BENEFICIAL OWNERS

SECURITY OWNERSHIP OF DIRECTORS, EXECUTIVE OFFICERS AND CERTAIN BENEFICIAL OWNERS 88 TRANSACTIONS WITH RELATED PERSONS 90 GENERAL INFORMATION ABOUT THE 2024 ANNUAL MEETING OF STOCKHOLDERS 91 OTHER MATTERS 99 APPENDIX A: SECOND AMENDED AND RESTATED CERTIFICATE OF INCORPORATION A-1 APPENDIX B: 2024 EQUITY INCENTIVE PLAN B-1 APPENDIX C: 2023 PEER COMPARISON GROUP C-1 APPENDIX D: RECONCILIATION OF EPS, ROTCE AND EFFICIENCY RATIO 2023 D-1 Table of Contents Key Terms Annual Meeting The Annual Meeting of Stockholders to be held virtually on May 23, 2024, and any adjournments or postponements thereof. Auditors Crowe LLP. Bank Bank of Hope. Board of Directors Board of Directors of Hope Bancorp, Inc. BOLI Bank Owned Life Insurance. Bylaws The Company's amended and restated bylaws. CEO Chief Executive Officer. Certificate of Incorporation The Company's amended and restated certificate of incorporation. Committees Principal committees: (i) Audit Committee ; (ii) Human Resources and Compensation Committee or "Compensation Committee" ; and (iii) Nomination and Governance Committee or "Nomination Committee" . Company References to the "Company", "we", "our", or "us" refer to Hope Bancorp, Inc., including our wholly owned subsidiary, Bank of Hope. CD&A Compensation Discussion and Analysis. DGCL Delaware General Corporation Law. EPS Earnings per share. ESG Environmental, social and governance. Exchange Act The Securities and Exchange Act of 1934, as amended. FDIC Federal Deposit Insurance Corporation. ISO Incentive stock option. LTIP Long-Term Incentive Program. NEO Named Executive Officer. The Company's NEOs for 2023 are listed in the "2023 Named Executive Officers" table under Proposal 9. Notice Notice of internet availability of proxy materials and a proxy card to the stockholders as of the Record Date. PSUs Performance share units. Record Date Stockholders of record as of the cl

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