Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 47

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 47
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 designed and implemented an executive compensation program that is structured to: • Align executive compensation with shareholder value creation; • Attract needed executive skillsets into a challenging Hawai'i marketplace; • Encourage retention and growth opportunities for executives; • Compensate executives for measurable and meaningful levels of Company performance; and • Balance performance incentives while not encouraging excessive risk taking by executives.

| BANK OF HAWAI'I  •  2025 PROXY STATEMENT | 39 |

| COMPENSATION DISCUSSION AND ANALYSIS |

Compensation Program Governance Summary

| What we do                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | What we don’t do                                                                                                                                                                                                                                  |
| · Maintain a robust shareholder engagement process · Demonstrate responsiveness to shareholder concerns and general feedback · Pay for performance by tying a substantial portion of executive compensation to performance goals, with 100% of incentives being performance-based · Evaluate executive compensation data and practices of our peer group companies as selected annually by the Committee with guidance from the independent compensation consultant · Regularly conduct assessments to identify and mitigate risk in compensation programs · Maintain significant stock ownership requirements (5x base salary for CEO, 2x for other NEOs) · Maintain a clawback policy · Engage an independent compensation consultant to evaluate and advise the Committee on executive compensation program design and pay decisions · Maintain an independent committee | · No employment agreements with NEOs· No single-trigger change-in-control provisions· No tax gross-ups· No excessive perquisites· No hedging and pledging stock transactions by executives and directors· No repricing of equity incentive awards |

Business and Performance Overview We are organized into three business segments for management reporting purposes: Consumer Banking, Commercial Banking, and Treasury and Other. Consumer Banking offers a broad range of financial products and services, including loan and lease financing, deposit, and brokerage and insurance products; private banking and international client banking services; trust services; investment management; and institutional investment advisory services. Loan and lease products include residential mortgage loans, home equity lines of credit, automobile loans and leases, overdraft lines of credit, installment loans, small business loans and leases, and credit cards. Deposit products include checking, savings, and time deposit accounts. Brokerage and insurance offerings include equities, mutual funds, life insurance, and annuity products. Private banking (including international client banking) and Trust groups assist individuals and families in building and preserving their wealth by providing investment, credit, and trust services to high-net-worth individuals. The investment management group manages portfolios utilizing a variety of investment products and the institutional client