Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 82

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 82
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 in this summary have the meanings assigned to them in the 2025 Plan. Eligibility Only non-employee members of the Board, or non-employee members of the board of directors of an affiliate of the Company (each, a “Director”) are eligible to receive an award under the 2025 Plan. Administration The 2025 Plan is administered by the Board. The Board has plenary authority and discretion to determine the Directors to whom Awards are granted and the terms of all Awards under the 2025 Plan. Subject to the provisions of the 2025 Plan, the Board has authority to interpret the 2025 Plan and agreements under the 2025 Plan and to make all other determinations relating to the administration of the 2025 Plan. Stock Subject to the 2025 Plan The maximum number of shares initially reserved for issuance over the term of the 2025 Plan shall be equal to 141,124 shares, which is comprised of (a) the share reserve available for issuance under the 2015 Plan as of February 28, 2025, and (b) the share increase in the amount of 60,000 shares, subject to approval as requested herein. However, such share reserve shall be decreased by the number of shares covered by awards providing for the issuance of shares that are granted under the 2015 Plan after February 28, 2025, and prior to the Effective Date. Such share reserve shall also be increased by the number of shares covered by awards providing for the issuance of shares granted under the 2015 Plan that cease to be covered by such awards by reason of termination, expiration or forfeiture of the awards after February 28, 2025. Types of Awards The 2025 Plan allows for the granting of stock options, restricted stock and restricted stock units (“RSUs”). Stock options may only be “nonqualified stock options,” which do not qualify under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). Restricted stock is Company common stock subject to transfer restrictions and risk of forfeiture. RSUs entitle grantees to the delivery of unrestricted shares of Company common stock (or the cash equivalent thereof) on a specified payment date in the future. Each award under the 2025 Plan will be evidenced by an agreement, specifying the terms and conditions of the award.

| 76 | BANK OF HAWAI'I  •  2025 PROXY STATEMENT |

| PROPOSAL 3: APPROVAL OF BANK OF