OP Bancorp Announces 2024 Annual Meeting of Shareholders

TL;DR

<b>OP Bancorp is holding its 2024 Annual Shareholder Meeting on June 27, 2024, to elect directors and ratify auditors.</b>

AI Summary

OP Bancorp (OPBK) filed a Proxy Statement (DEF 14A) with the SEC on May 16, 2024. The 2024 Annual Meeting of Shareholders for OP Bancorp will be held on June 27, 2024, at 10 a.m. PDT. The meeting will take place at OP Bancorp's offices located at 1000 Wilshire Boulevard, Suite 500, Los Angeles, California 90017. Shareholders are requested to notify the company at least 24 hours in advance if they plan to attend. The agenda includes the election of 7 members to the Board of Directors for one-year terms. The selection of Crowe LLP as the Company's independent registered public accounting firm for ratification is also on the agenda.

Why It Matters

For investors and stakeholders tracking OP Bancorp, this filing contains several important signals. Shareholders need to be aware of the meeting date, time, and location to participate in corporate governance decisions. The election of directors and ratification of auditors are critical votes that impact the company's leadership and financial oversight.

Risk Assessment

Risk Level: low — OP Bancorp shows low risk based on this filing. The filing is a routine proxy statement for an annual shareholder meeting, containing standard information about director elections and auditor ratification, with no immediate financial or operational concerns highlighted.

Analyst Insight

Shareholders should review the proxy materials to make informed voting decisions on director nominees and the proposed auditor.

Key Numbers

• 7 — Directors to be elected (Number of members to be elected to the Board of Directors)
• 1 — Director term length (Each director will serve a term of one year)
• 2024 — Annual Meeting Year (The meeting is the 2024 Annual Meeting of Shareholders)
• June 27 — Meeting Date (The Annual Meeting is scheduled for June 27, 2024)
• 10 a.m. PDT — Meeting Time (The Annual Meeting will commence at 10 a.m. Pacific Daylight Time)

Key Players & Entities

• OP Bancorp (company) — Registrant name and company name
• Brian Choi (person) — Chairman of the Board
• Min J. Kim (person) — President and Chief Executive Officer
• Crowe LLP (company) — Independent registered public accounting firm
• June 27, 2024 (date) — Date of the Annual Meeting
• 10 a.m. PDT (time) — Time of the Annual Meeting
• 1000 Wilshire Boulevard, Suite 500, Los Angeles, California 90017 (location) — Address of the Annual Meeting and company headquarters
• 2024 (date) — Year of the Annual Meeting

FAQ

Risk Factors

• Compliance with SEC Proxy Rules [low — regulatory]: The filing must comply with SEC Rule 14a-101 and other regulations governing proxy statements to ensure accurate disclosure to shareholders.
• Shareholder Participation [low — operational]: Ensuring adequate shareholder participation and representation at the annual meeting is crucial for corporate governance.

Key Dates

• 2024-06-27: 2024 Annual Meeting of Shareholders — Shareholders will vote on director elections and auditor ratification.
• 2024-05-16: Filing Date — This definitive proxy statement was filed with the SEC.

Filing Documents

• opbk-20240516xdef14a.htm (DEF 14A) — 419KB
• image1a.jpg (GRAPHIC) — 127KB
• image2a.jpg (GRAPHIC) — 195KB
• image3a.jpg (GRAPHIC) — 106KB
• image4a.jpg (GRAPHIC) — 134KB
• image5a.jpg (GRAPHIC) — 161KB
• image6a.jpg (GRAPHIC) — 97KB
• image7a.jpg (GRAPHIC) — 120KB
• image_1a.jpg (GRAPHIC) — 3KB
• image_2a.jpg (GRAPHIC) — 35KB
• imageb.jpg (GRAPHIC) — 4KB
• imagec.jpg (GRAPHIC) — 185KB
• 0001628280-24-023703.txt (&nbsp;) — 2029KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 17 Summary Compensation Table 18 Chief Executive Officer Agreements 18 Management Incentive Plan 19 Benefits and Other Perquisites 20 Executive Change in Control Plan 20 2021 Equity Incentive Plan 22 2010 Equity Incentive Plan 22 Outstanding Equity Awards 22 Recovery of Erroneously Awarded Incentive Compensation 22 Director Compensation 23 PROPOSAL 1—ELECTION OF DIRECTORS 24 PROPOSAL 2—RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 26 OTHER BUSINESS 28 SHAREHOLDER PROPOSALS 28 PROXY STATEMENT FOR OP BANCORP 2024 ANNUAL MEETING OF SHAREHOLDERS INFORMATION ABOUT THE ANNUAL MEETING AND VOTING Why did you send me this proxy statement We sent you this proxy statement and the enclosed proxy card because our Board of Directors is soliciting your proxy to vote at the 2024 Annual Meeting of Shareholders. This proxy statement summarizes the information you need to know to cast an informed vote at the Annual Meeting. However, you do not need to attend the Annual Meeting to vote your shares. Instead, you may simply complete, sign and return the enclosed proxy card. You may also vote electronically by telephone or the Internet by following the instructions on the proxy card. Along with this proxy statement, we are also sending you the OP Bancorp 2023 Annual Report, which includes our consolidated financial statements and other important information. OP Bancorp is also referred to in this proxy statement as the "Company." Who is entitled to vote We will begin sending this proxy statement, the attached Notice of Annual Meeting and the enclosed proxy card on or about May 16, 2024, to all shareholders entitled to vote. Shareholders who were the record owners of the Company's common stock at the close of business on April 30, 2024, are entitled to vote. On the record date, there were 14,920,153 shares of common stock outstanding. What constitutes a quorum A majority of the outstanding share

View Full Filing

View this DEF 14A filing on SEC EDGAR