Sec Form 4 Filing - Malone David P @ HOPE BANCORP INC - 2019-07-27

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Malone David P
2. Issuer Name and Ticker or Trading Symbol
HOPE BANCORP INC [ HOPE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
SEVP, Chief Operating Officer
(Last) (First) (Middle)
3200 WILSHIRE BLVD., SUITE 1400
3. Date of Earliest Transaction (MM/DD/YY)
07/27/2019
(Street)
LOS ANGELES, CA90010
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/27/2019 M 2,833 A $ 14.42 20,602 D
Common Stock 07/27/2019 F 932 D $ 14.42 19,670 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Time-based Restricted Stock Units ( 1 ) ( 1 ) ( 1 ) Common Stock 12,849 12,849 D
Performance-based Restricted Stock Units ( 2 ) ( 2 ) ( 2 ) Common Stock 6,424 ( 2 ) 6,424 ( 2 ) D
Performance-based Restricted Stock Units ( 3 ) ( 3 ) ( 3 ) Common Stock 6,424 ( 3 ) 6,424 ( 3 ) D
Time-based Restricted Stock Units ( 4 ) ( 4 ) ( 4 ) Common Stock 7,454 7,454 D
Time-based Restricted Stock Units ( 5 ) ( 5 ) ( 5 ) Common Stock 6,493 6,493 D
Performance-based Restricted Stock Units ( 6 ) 04/26/2021( 6 ) ( 6 ) Common Stock 4,868 ( 6 ) 4,868 ( 6 ) D
Performance-based Restricted Stock Units ( 7 ) 04/26/2021( 7 ) ( 7 ) Common Stock 4,868 ( 7 ) 4,868 ( 7 ) D
Time-based Restricted Stock Units ( 8 ) 07/29/2019 M 2,833 ( 8 ) ( 8 ) Common Stock 2,834 $ 14.42 2,834 D
Performance-based Restricted Stock Units ( 9 ) 07/27/2020( 9 ) ( 9 ) Common Stock 4,250 ( 9 ) 4,250 ( 9 ) D
Performance-based Restricted Stock Units ( 10 ) 07/27/2020( 10 ) ( 10 ) Common Stock 4,250 ( 10 ) 4,250 ( 10 ) D
Non-qualified stock option (right to buy) $ 17.18 ( 11 ) 09/01/2026 Common Stock 20,000 20,000 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Malone David P
3200 WILSHIRE BLVD.
SUITE 1400
LOS ANGELES, CA90010
X SEVP, Chief Operating Officer
Signatures
/s/Claire Hur as attorney-in-fact for David Malone 07/30/2019
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Total 12,849 Restricted Stock Units (RSU) were granted on May 23, 2019 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. Installment of 4,283 shares each will vest annually on May 23, 2020, 2021, and 2022.
( 2 )6,424 performance-based restricted stock units ("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 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.
( 3 )6,424 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.
( 4 )Total 7,454 RSU were granted on March 8, 2019 pursuant to the BBCN Bancorp, Inc. 2016 Incentive Compensation Plan ("2016 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 3,727 shares each will vest annually on March 8, 2020 and 2021.
( 5 )Total 9,738 RSU were granted on April 26, 2018 pursuant to the 2017 LTIP and 2016 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 3,246 shares each will vest annually on April 26, 2019, 2020, and 2021.
( 6 )4,868 PRSU were granted on April 26, 2018 pursuant to the 2017 LTIP and the 2016 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU depends upon Hope's achievement of a specified increase in the cumulative quarterly earnings per share during the 11-quarter period from April 1, 2018 through December 31, 2020. 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.
( 7 )4,868 PRSU were granted on April 26, 2018 pursuant to the 2017 LTIP and the 2016 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, 2018 through December 31, 2020. 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.
( 8 )Total 8,500 RSU were granted on July 27, 2017 pursuant to the 2017 LTIP and 2016 ICP and vest annually over three years. Each RSU represents a contingent right to receive one share of Hope common stock. The first annual installment of 2,833 vested on July 27, 2018, and the next two installments will vest annually in 2019 and 2020.
( 9 )4,250 PRSU were granted on July 27, 2017 pursuant to the 2017 LTIP and the 2016 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU depends upon Hope's achievement of a specified increase in the cumulative quarterly earnings per share during the 10-quarter period from July 1, 2017 through December 31, 2019. 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.
( 10 )4,250 PRSU were granted on July 27, 2017 pursuant to the 2017 LTIP and the 2016 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 a 10-quarter period from July 1, 2017 through December 31, 2019. 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.
( 11 )Non-qualified stock options granted on September 1, 2016 pursuant to the 2016 ICP. 1/3 of the options vested immediately on the grant date, with the remaining 2/3 vesting in two equal annual installments thereafter.

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