Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 81

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 81
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 more than the normal risk of collectability or present other unfavorable features. Ms. Dana M. Tokioka, a current director and director nominee, serves as a vice president of Atlas Insurance Agency, Inc. (“Atlas”), a Honolulu-based insurance agency which has provided insurance brokerage services to the Company since July 2009, predating Ms. Tokioka’s appointment to the Board. In 2024, the Company paid Atlas insurance brokerage fees in the amount of $507,224.85, relating to professional liability, property, casualty and other insurance related products and services. The above-mentioned transactions were made in the ordinary course of business and on terms and conditions comparable to contracts with other vendors not related to the Company.

| BANK OF HAWAI'I  •  2025 PROXY STATEMENT | 75 |

Proposal 3: Approval of Bank of Hawaii Corporation 2025 Director Stock Compensation Plan We are requesting shareholders to approve the Bank of Hawaii Corporation 2025 Director Stock Compensation Plan (the “2025 Plan”), the material terms of which are described below. The Board of Directors (the “Board”) approved the 2025 Plan on February 28, 2025, subject to the shareholder approval solicited by this proxy statement. The purpose of the 2025 Plan is to align the interests of the Directors with those of the Company shareholders by encouraging and enabling Directors to acquire and retain Company common stock. The 2025 Plan provides for the grant of stock options, restricted stock and restricted stock units. If approved by the Company’s shareholders, the 2025 Plan will become effective as of April 25, 2025 and will replace the Bank of Hawaii Corporation 2015 Amended and Restated Director Stock Compensation Plan (the “2015 Plan”), which expires on April 29, 2025. Upon approval of the 2025 Plan by shareholders, no new grants will be made under the 2015 Plan. The remaining shares available for issuance under the 2015 Plan plus the number of shares covered by outstanding awards under the 2015 Plan that are forfeited or expire will carry over to the new 2025 Plan, and 60,000 new shares are being requested as part of this proposal. Summary of the 2025 Plan The following summary of the material features of the 2025 Plan is entirely qualified by reference to the full text of the 2025 Plan, a copy of which is attached hereto as Appendix A. Unless otherwise specified, capitalized terms used