Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 27

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 27
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 is to monitor crisis response, receive operational impact updates and action plans from management related to emergent issues, and provide focused oversight of liquidity and capital planning process, policy and mindset; stress testing scenarios and assumptions; risk appetite, framework and profile; potential crisis early warning signs; among other responsibilities. Risk reports are provided and discussed at committee and Board meetings. In addition to detailed reports, the Board reviews an Enterprise-Wide Risk Report that reflects key risk measures and trends, including reputational risk, across the Company. Key managers responsible for risk management (Chief Risk Officer, Treasurer, Chief Compliance Officer, General Counsel, and Chief Fiduciary Officer, along with a variety of other risk specialists) regularly provide updates at the respective committee and Board meetings. In support of the Board’s risk oversight role and to ensure that potential problems are surfaced, the Audit Committee directly oversees the Company’s Internal Audit function, and the Risk Management Committee directly oversees the Company's Credit Review function. Risk Considerations in our Compensation Program The Human Resources & Compensation Committee regularly discusses the concept of risk as it relates to our compensation program with our management team and with our compensation consultant. The Human Resources & Compensation Committee does not believe the goals or the underlying philosophy of our compensation program encourage excessive risk-taking, or create risks that reasonably likely to have a material adverse effect on the Company. Throughout our compensation program, compensation is aligned with increases in shareholder value and long-term stockholder interests and, therefore, we believe our compensation arrangements do not encourage inappropriate risk-taking. The named executive officers’ ("NEO") salaries are fixed in amount and typically account for approximately 34% of their total compensation. For 2024, all other total compensation (other than based salaries and perquisites) for named executive officers was determined using the balanced scorecard, which links incentive award payouts to pre-established performance targets.

| 24 | BANK OF HAWAI'I  •  2025 PROXY STATEMENT |

| PROPOSAL 1: ELECTION OF DIRECTORS |

The Human Resources & Compensation Committee reviews the output of the scorecard and the resulting incentive compensation to ensure that the output is consistent with the design of the plan. Additionally, a substantial portion of executive compensation is in the form of equity incentive awards, which are subject to specific pre-established performance targets, which further aligns executives’ interests with those of our stockholders. We believe these awards do not encourage excessive or inappropriate risk-taking given that the value of the awards is tied to our performance, and the awards are subject to