Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 83

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 83
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 HAWAII CORPORATION 2025 DIRECTOR STOCK COMPENSATION PLAN |

Dividends and Dividend Equivalents Under the 2025 Plan, the terms of an award may provide for the right to receive dividend payments or dividend equivalent payments with respect to shares covered by the award, which payments may be made either concurrently or credited to an account established for the recipient, and which may be settled in cash or additional shares, as determined by the Board. Adjustments to Reflect Capital Events If the outstanding common stock of the Company changes as a result of a stock dividend, stock split, reverse stock split, spin-off, split-off, recapitalization, reclassification, combination or exchange of shares, merger, consolidation or liquidation, or the like (collectively, a “Capital Event”), the 2025 Plan requires the Board to provide for an appropriate (a) adjustment in the number and class of securities subject to outstanding awards under the 2025 Plan, or consideration to be received upon the exercise or vesting of such awards; (b) adjustment of the exercise price of options outstanding under the 2025 Plan; and (c) adjustment in the aggregate number and class of shares for which awards may thereafter be granted under the 2025 Plan. The 2025 Plan further provides that upon the occurrence of a Capital Event the Board may, in its discretion, cause some or all of any outstanding award to accelerate or be canceled in exchange for the payment of cash or other consideration equal to the fair market value of the award as of the occurrence of the Capital Event. Further, the 2025 Plan permits the Board to effect different treatment for different awards to the same Director, and different treatment for awards to different Directors. Withholding The Company’s obligation to issue or deliver shares or pay any cash amounts pursuant to the terms of an award are subject to the satisfaction by the recipient of any and all applicable federal, state, local and foreign tax withholding requirements. To satisfy those requirements, the 2025 Plan permits a recipient to tender cash to the Company, instruct the Company to withhold shares otherwise issuable under the award, or deliver to the Company for surrender already-owned and unencumbered shares. Term Unless earlier terminated by the Board, the 2025 Plan will automatically expire on April 25, 2035. Once the 2025 Plan is terminated, no further awards may be granted out of the 2025 Plan, although termination of the 2025 Plan will not affect the validity of any awards then