Hope Bancorp Files Proxy Statement for Annual Meeting

TL;DR

HOPE proxy filing out - vote on directors & auditors soon.

AI Summary

Hope Bancorp, Inc. filed a Definitive Additional Materials proxy statement on April 30, 2024. This filing relates to the company's annual meeting of stockholders, where proposals such as the election of directors and the ratification of independent auditors will be presented. The company is seeking shareholder approval for various corporate actions and governance matters.

Why It Matters

This filing provides shareholders with crucial information regarding the company's governance and upcoming voting matters, allowing them to make informed decisions at the annual meeting.

Risk Assessment

Risk Level: low — This is a routine proxy filing for an annual meeting, not indicating any unusual or high-risk events.

Key Players & Entities

• HOPE BANCORP, INC. (company) — Registrant
• BBCN BANCORP INC (company) — Former Company Name
• NARA BANCORP INC (company) — Former Company Name

FAQ

Filing Documents

• d777622ddefa14a.htm (DEFA14A) — 34KB
• g777622g22m03.jpg (GRAPHIC) — 19KB
• 0001193125-24-125338.txt ( ) — 61KB

From the Filing

DEFA14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14a PROXY STATEMENT Pursuant to Section 14(A) of The Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 HOPE BANCORP, INC. (Name of Registrant as Specified in Its Charter) (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. 3200 Wilshire Boulevard, Suite 1400, Los Angeles, CA 90010 HOPE BANCORP, INC. SUPPLEMENT TO PROXY STATEMENT FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 23, 2024 This supplement (Supplement) supplements the definitive proxy statement on Schedule 14A (Proxy Statement) filed by Hope Bancorp, Inc. (Company) with the U.S. Securities and Exchange Commission (SEC) on April 12, 2024, in connection with the Companys 2024 Annual Meeting of Stockholders (Annual Meeting) to be held on Thursday, May 23, 2024, at 10:30 AM Pacific Time and at any adjournments or postponements thereof. This Supplement provides additional information regarding disclosure contained in the Proxy Statement with respect to (i) whether the proposal to amend our Certificate of Incorporation to increase the authorized shares of common stock (Proposal 3) is treated as routine or non-routine by the New York Stock Exchange (NYSE), (ii) the effect of broker non-votes with respect to each of the proposals presented in the Proxy Statement, (iii) the voting standard for our proposals that amend our Certificate of Incorporation, and (iv) a merger transaction announced on April 29, 2024. The supplementation and revisions to the existing disclosures in the Proxy Statement are set forth below under the heading Supplementation and Revisions to the Proxy Statement. Other than as set forth below, no other changes have been made to the Proxy Statement and it continues to be in full force and effect as originally filed with the SEC. The Board of Directors of the Company continues to seek the vote of the Companys stockholders on each of the proposals to be voted on at the Annual Meeting as recommended in the original filing. From and after the date of this Supplement, any references to the Proxy Statement are to the Proxy Statement as supplemented and amended by this Supplement. This Supplement should be read in conjunction with the Proxy on any proposal. Supplementation and Revisions to the Proxy Statement The following sentences supplement the disclosure in the second paragraph under the heading Purpose of Proposed Amendment with respect to Proposal 3 (Page 34): On April 29, 2024, we announced our proposed all-stock merger with Territorial Bancorp Inc. pursuant to which we expect to issue approximately 7.2 million shares of Common Stock to Territorials shareholders. While we have a sufficient number of authorized but unissued shares of Common Stock available to complete this merger without increasing our authorized shares as contemplated by this proposal, the merger will further reduce the number of shares of Common Stock available for future issuances. The sentence under the subheading Vote Required and Board Recommendation with respect to each of Proposal 3 (Page 35), Proposal 4 (Page 37), Proposal 5 (Page 39), and Proposal 6 (Page 41) is hereby supplemented and amended to read as follows: The affirmative vote of the holders of greater than 50 percent of the voting power of the outstanding shares of the Companys Common Stock is required to approve this proposal. The second paragraph under the heading Voting Shares Held in Street Name by a Broker on page 93 of the Proxy Statement is hereby supplemented and amended to read as follows: As a beneficial owner, you will have the right to direct that organization on how to vote shares in your account. If that organization is not given specific direction, your shares held in the name of that organization may not be voted, which is sometimes referred to as a broker non-vote, and they will not be considered as present and entitled to vote at the Annual -1- Meeting in certain instances. New York Stock Exchange (NYSE) Rule 452.11, generally speaking, prohibits brokers and other organizations holding shares on your behalf from voting on your behalf, if they have not received direction from you, with respect to Proposal 1 (election of directors) and Proposal 7 (approval of the 2024 Equity Incentive Plan). These proposals are considered non-routine. We understand that, notwithstanding that they are not addressed i

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