Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 62

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 62
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 to good governance and the highest ethical standards, and steady leadership of business units that are key to protecting our brand and maintaining the safety and security of our customers and employees. Taking into consideration the weighted performance assessment score, and overall company performance, the Committee awarded the following:

| Name                |     |       Annual Base 
      Salary as of 
 December 31, 2024 
               ($) |     | Target Annual 
 Incentive     |     | Final Incentive           
 Payout                    
 (% of Annual Base Salary) |     | Final Incentive 
       Award ($) |
|:--------------------|:----|------------------:|:----|:--------------|:----|:--------------------------|:----|----------------:|
| Peter S. Ho         |     |           885,800 |     | 100%          |     | 169%                      |     |       1,500,000 |
| Dean Y. Shigemura   |     |           448,050 |     | 80%           |     | 80%                       |     |         360,000 |
| S. Bradley Shairson |     |           450,000 |     | 80%           |     | 133%                      |     |         600,000 |
| James C. Polk       |     |           570,000 |     | 90%           |     | 83%                       |     |         475,000 |
| Patrick M. McGuirk  |     |           462,000 |     | 80%           |     | 70%                       |     |         325,000 |

| BANK OF HAWAI'I  •  2025 PROXY STATEMENT | 55 |

| COMPENSATION DISCUSSION AND ANALYSIS |

5. Determine Long-Term Incentive Award - Threshold, Target and Maximum Performance Levels The Company used to grant NEOs long-term incentive recipients the number of shares that would vest if the Company performed at the target level, which was set at the top quartile relative to peers, and there was no opportunity to earn more than the target level. In 2024 and going forward, the number of shares granted was reduced, while providing the opportunity to earn additional shares by over-performing relative to peers, which is more consistent with market practices and our peer group. In applying these factors, the Committee determined the number of performance units to be awarded under the long-term incentive plan to the CEO