Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 64

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 64
---
 NEOs. Refer to the Grants of Plan-Based Awards on page 65 .

| 56 | BANK OF HAWAI'I  •  2025 PROXY STATEMENT |

| COMPENSATION DISCUSSION AND ANALYSIS |

Substantial ‘at risk’ and variable compensation : Approximately 77% of CEO total compensation (salary, bonus, stock awards [long-term incentives], non-equity incentive plan compensation [short-term incentives], and all other compensation) is variable and impacted by pre-established Company performance metrics.

| BANK OF HAWAI'I  •  2025 PROXY STATEMENT | 57 |

| COMPENSATION DISCUSSION AND ANALYSIS |

BENEFITS & RETIREMENT PLANS SPONSORED BY THE COMPANY Executive officers are eligible to participate in health and insurance plans, retirement plans, and other benefits generally available to full-time employees. This is consistent with the Company’s belief in offering employees comprehensive health and retirement benefits that are competitive in our markets. The retirement programs assist employees in planning for their retirement income needs. Benefits under the qualified health and retirement plans are not directly tied to specific Company performance. Employees who meet service requirements are eligible to participate in the Company-sponsored Retirement Savings Plan (“RSP”), a tax-qualified defined contribution pension plan. Benefits are reviewed on a regular basis, and appropriate changes are made to ensure our program continues to be effective and competitive. The Committee has adopted the Bank of Hawaii Corporation Executive Deferred Compensation Program (the “Deferred Compensation Program”), a program that offers senior management (including the NEOs) the ability to defer up to 80% of base salary and 100% of incentive amounts under the Executive Incentive Plan in order to allow executives to defer, along with the receipt of the compensation, the income tax liability on such payments (including any appreciation in value as a result of the deemed investment of such amounts) until receipt. This program allows participants to manage their cash flow and estate planning needs. The Company also maintains the Bank of Hawai'i Retirement Savings Excess Benefit Plan (the “Excess Benefit Plan”), a nonqualified supplemental retirement benefit plan that compensates participants for benefits that would otherwise be payable under the Company’s Retirement Savings Plan but for certain Internal Revenue Code (“IRC”) limitations. The Committee believes that this plan is important to ensure equitability in retirement funding amounts between those that fall below and above the IRC limitations. Gains from long-term incentive compensation are not included in the determination of nonqualified deferred compensation benefits. Perquisites The Company offers and