Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 63

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 63
---
 and other NEOs.

| 2024 LTI Design Elements            |
| ▪Return-on-Common-Equity (70%); and 
 ▪Total Shareholder Return (30%).    |

* S&P Supercomposite Regional Bank Index (excluding banks with assets > $50.0 billion) as of January 2, 2024 The terms “Return-on-Common-Equity” (generally defined as the net income available to common shareholders as a percent of average common equity, but as determined by the Committee) and Total Shareholder Return shall be measured as of December 31 of such year, measured against the banks that comprise the S&P Supercomposite Regional Bank Index. With respect to the given Financial Performance Criteria, the “Three Year Average Percentile” shall mean the Company’s percentile level on the S&P Supercomposite Regional Bank Index for the average of the numerical measures over the three years 2024, 2025, and 2026 that comprise the January 2, 2024, S&P Supercomposite Regional Bank Index (with peer group banks determined by excluding banks with assets >$50B). The Company has set a target award of 100% of the performance units to be awarded under the 2024 long-term incentive plan with a threshold or minimum award of 50% of target and maximum award of 200% of target. To achieve any performance unit award, top three quartile performance must occur with the actual award determined by performance and metric weighting. Company performance below 25th percentile results in forfeiture of the entire weighted opportunity for each of the performance measures. The period of restriction terminates based upon the level of achievement of the specified financial performance criteria (Return-on-Common-Equity, weighted at 70% and Total Shareholder Return, weighted at 30%). In this regard, the Period of Restriction terminates with respect to the “Applicable Vesting Percentages”, based upon the Company’s achievement of the respective Financial Performance Criteria with a maximum payout of 200% at the 75th percentile that is interpolated downward to the 25th percentile, below which point there is no payout. In setting the CEO’s and other NEOs’ long-term incentive compensation, the Committee considered, among other factors, Company performance, shareholder value creation, the competitive marketplace, the awards given in past years, peer group analysis and other market factors. In applying these factors, the Committee determined the number of performance units to be awarded under the long-term incentive plan to the CEO and other