Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 59

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 59
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 Program, Leadership Development Program, Manager Excellence Forum, new Leadership Council Orientation and Pathways to Profession Excellence ·   Mentorship Programs Allows leaders to sharpen their skills and give back to the community by mentoring college students or small business owners |

* 20% represents CEO weighting. The table details the CEO individual contribution.

| BANK OF HAWAI'I  •  2025 PROXY STATEMENT | 53 |

| COMPENSATION DISCUSSION AND ANALYSIS |

4. Calculate / Determine Annual Short-Term Incentive Amount The CEO and other NEOs participate in the Executive Incentive Plan (the “EIP”), the Company’s short-term incentive plan for executives. The EIP is a 100% performance-based short-term incentive plan. The Committee determines the CEO’s STI award based upon a balanced scorecard that equally measures profitability, asset quality, financial returns, a strategic measure, and individual performance. Each of these measures are given equal weighting in determining the CEO’s cash bonus. Accordingly, PPNR is measured against a target set prior to the beginning of the year and is designed to encourage budget discipline throughout the year. Making sure that a conservative credit culture drives behavior, the level of non-performing assets will be measured relative to peers. ROCE is a key measure of the Company’s financial health, and is measured against peers. Inasmuch as the Company’s brand is a differentiator in our marketplace, a focus on customer experience is a key strategic initiative, so the strategic measure for 2024 was our Customer Experience score, as measured by the proprietary framework developed by Forrester, a global research company. Finally, the CEO’s individual contribution is determined based on an assessment of strategic initiatives, community presence and reputation, and leadership development and succession. NEO personal contributions are determined relative to the achievement in their respective managerial spheres of influence. Annually, the Committee approves the EIP maximum incentive pool. For 2024, the EIP maximum incentive pool was approved at 3% of the Company’s net income before taxes for the fiscal year. At the beginning of the performance period, each participating executive is allocated a maximum percentage of the incentive pool. For 2024, the Committee allocated a maximum percentage of 35% to Mr. Ho and 11% to the other NEOs. The Company has set a target award of 100% of base salary for the CEO, with a threshold or minimum payout of 50% and maximum payout of 250% of target. Company performance below third