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Filing Details

Accession Number:: 0001209191-21-053421
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-08-26 12:15:53
Reporting Period:: 2021-08-24

Accepted Time:: 2021-08-26 12:15:53
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1128361	Hope Bancorp Inc	HOPE	National Commercial Banks (6021)	954849715

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1777703	Thomas Stenger	3200 Wilshire Blvd Ste 1400 Los Angeles CA 90010	Evp, Chief Risk Officer	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2021-08-24	3,694	$13.93	2,755	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Time-based Restricted Stock Units	$0.00	4,540	4,540	Direct
Common Stock	Performance-based Restricted Stock Units	$0.00	1,816	1,816	Direct
Common Stock	Performance-based Restricted Stock Units	$0.00	1,816	1,816	Direct
Common Stock	Performance-based Restricted Stock Units	$0.00	907	907	Direct
Common Stock	Time-based Restricted Stock Units	$0.00	3,017	3,017	Direct
Common Stock	Time-based Restricted Stock Units	$0.00	5,334	5,334	Direct
Common Stock	Performance-based Restricted Stock Units	$0.00	4,000	4,000	Direct
Common Stock	Performance-based Restricted Stock Units	$0.00	4,000	4,000	Direct
Common Stock	Time-based Restricted Stock Units	$0.00	2,117	2,117	Direct
Common Stock	Time-based Restricted Stock Units	$0.00	1,233	1,233	Direct
Common Stock	Performance-based Restricted Stock Units	$0.00	1,849	1,849	Direct
Common Stock	Performance-based Restricted Stock Units	$0.00	1,849	1,849	Direct
Common Stock	Time-based Restricted Stock Units	$0.00	3,420	3,420	Direct

Amount	Remaning Holdings	Nature of Ownership
4,540	4,540	Direct
1,816	1,816	Direct
1,816	1,816	Direct
907	907	Direct
3,017	3,017	Direct
5,334	5,334	Direct
4,000	4,000	Direct
4,000	4,000	Direct
2,117	2,117	Direct
1,233	1,233	Direct
1,849	1,849	Direct
1,849	1,849	Direct
3,420	3,420	Direct

Footnotes

Total 4,540 Restricted Stock Units ("RSU") were granted on May 19, 2021 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("2017 LTIP") and the Hope Bancorp, Inc. 2019 Incentive Compensation Plan ("2019 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 1,513 each will vest annually on May 19, 2022 and 2023, and 1,514 shares will vest on May 19, 2024.
1,816 performance-based restricted stock units ("PRSU") were granted on May 19, 2021 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 common tangible equity in relation to the bank's stated peer group over a 12-quarter period from January 1, 2021 through December 31, 2023. 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.
1,816 PRSU were granted on May 19, 2021 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 absolute earnings per share in relation to the bank's stated budget over a 12-month period from January 1, 2021 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.
907 PRSU were granted on May 19, 2021 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 bank's stated peer group over a 12-quarter period from January 1, 2021 through December 31, 2023. 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.
Total 3,017 RSU were granted on March 17, 2021 pursuant to the 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 1,508 and 1,509 shares each will vest annually on March 17, 2022 and 2023 respectively.
Total 8,000 RSU were granted on April 22, 2020 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 2,666 will vest on April 22, 2021, and 2,667 shares each will vest annually on April 22, 2022, and 2023.
4,000 PRSU were granted on April 22, 2020 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, 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.
4,000 PRSU were granted on April 22, 2020 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 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.
Total 4,233 RSU were granted on March 6, 2020 pursuant to the 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 2,116 and 2,117 shares each will vest annually on March 6, 2021 and 2022 respectively.
Total 3,698 RSU were granted on May 23, 2019 pursuant to the 2017 LTIP and 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installment of 1,232 shares will vest on May 23, 2020, and 1,233 shares each will vest annually on May 23, 2021, and 2022.
1,849 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.
1,849 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.
Total 5,700 RSU were granted on February 28, 2019 pursuant to the 2016 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 1,140 shares each will vest annually over five years beginning February 28, 2020.