Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 51

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 51
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CE”) (weighted 40%), Price to Book (“P/B”) ratio (weighted 40%) and individual performance (weighted 20%) in 2023 to a balanced scorecard measuring profitability, asset quality, financial returns, a strategic measure, and individual performance in 2024, each weighted 20%. ▪ Long-Term Incentive (“LTI”) metrics go from ROCE (weighted 50%) and P/B ratio (weighted 50%) to ROCE (weighted 70%) and introducing Total Shareholder Return (“TSR”) (weighted 30%) for 2024 equity grants; eliminating P/B ratio ▪ Approximately 77% of our CEO’s total compensation (salary, STI, LTI and all other compensation) is performance-based. This is a much higher percentage compared to other regional banks in our peer group where, on average, the peer CEOs receive 40% of their LTI in time-based RSUs

| Peer Group      |     | Percentage of Total CEO Compensation 
 That Is Performance-Based            |
| 25th Percentile |     | 50%                                  |
| Median          |     | 57%                                  |
| 75th Percentile |     | 65%                                  |
| BOH             |     | 77%                                  |

• Individual performance measured against strategic goals • The same scorecard drives other NEO STI payouts, with a greater emphasis placed on individual contribution within their line of sight and sphere of influence • Incentives remain 100% performance-based, no time vesting, which continues our commitment to aligning pay with performance • Reduction in historic LTI grant values with an opportunity to receive higher than target for appropriate performance • These adjustments were well-received by shareholders, as evidenced by say-on-pay results that improved to 94% in 2024 EXECUTING BOH’S SUCCESSION PLAN IN 2024 In 2024, years of succession planning by the Board and senior management of the Company came to fruition. Several key executive functions saw smooth transitions to new leadership, and the Company has positioned itself well to sustain its market-leading executive team well into the future. First and foremost, on July 19, 2024 Vice Chair and Chief Banking Officer James C. Polk was named President of the Company. A 25-year Company veteran, Mr. Polk had been overseeing Commercial Banking, Cash Management, Merchant Services and Wealth Management. With his promotion, he was given additional executive oversight responsibility for Retail Banking, Branch Banking