Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 60

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 60
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 quartile results in forfeiture of the entire weighted opportunity for each of the relative quantitative measures. The Company has set a target award of 90% of base salary for the President; the other NEOs have a target award of 80% of base salary. Their threshold or minimum payout is 50% of target and maximum payout is 200% of target. In evaluating CEO performance and resulting EIP payment, the Committee employed a balanced scoring system based upon achievement of the performance metrics referenced above. The Committee reviewed and discussed the CEO’s performance against the EIP metrics and objectives, then determined the final EIP award based upon the results. The Committee reviewed and discussed in detail the CEO’s individual contributions and rated his performance “OUTSTANDING” in the pre-determined areas of community presence, reputation, leadership development, succession planning and strategic initiatives. In evaluating the other NEOs, the Committee considered the recommendations of the CEO, and reviewed and discussed the other NEOs’ performance against the EIP metrics and objectives, as well as their individual contributions and achievements in their respective managerial spheres of influence. Dean Y. Shigemura Mr. Shigemura is Vice Chair and Chief Financial Officer. He is a member of the Company’s Executive Committee and has overall responsibility for the Finance group. The Finance group includes Financial and Regulatory Reporting, Tax Reporting, Accounting, Accounts Payable, Financial Planning and Analysis, and Treasury. The Committee discussed Mr. Shigemura’s contributions in his area of responsibilities in 2024. Mr. Shigemura demonstrated disciplined financial management within corporate goals and expectations, while leading his team through the regional banking crisis and volatile interest rates while maintaining strong and improving financial performance metrics for the Company. The Committee noted his significant contribution within the area of financial management including the continued growth in core loans and deposits, maintaining strong liquidity and increasing capital levels. During 2024, Mr. Shigemura was instrumental in the successful preferred stock offering. In addition, Mr. Shigemura chaired the Asset/Liability Committee (“ALCO”), which oversees the balance sheet, capital and liquidity for the Company, helped lead the ALCO Pricing Committee, which is responsible for loan, deposit, and fee pricing, oversaw the Company’s stress testing activities, and participated in a number of corporate committees and regulatory exams.

| 54 | BANK OF HAWAI'I  •  2025 PROXY STATEMENT |

| COMPENSATION DISCUSSION AND ANALYSIS |

S. Bradley Shairson Mr.