Company: BOH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0000950170-25-039381
Chunk: 2

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 2
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, demonstrating what we do to drive performance and manage risk and is current through March 1, 2025. The third column highlights the Company’s business performance during 2024.

| Corporate Governance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |     | Compensation Program Best Practices                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |     | Business Performance                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| · Annual election of directors· Majority voting in director elections with a plurality carve-out in the case of contested elections and a director resignation policy· Independent directors comprise 92% of the Board of Directors and 100% of key committees· 33% of directors are women and 50% are ethnically diverse· Ongoing director refreshment with 3 new directors added in the past 5 years· Regular executive sessions of the Board of Directors without management present· Directors actively participate in continuing education programs · All directors attended at least 75% of the Board of Directors and committee meetings· Annual Say-on-Pay vote· Robust shareholder engagement process· Effective whistleblower policy and program· Annual Board of Directors and Committee self-evaluations· No poison pill |     | · Pay for performance by tying a substantial portion of executive compensation to performance goals· Significant stock ownership requirements (5x base salary for CEO, 2x for other NEOs)· No employment or severance agreements with NEOs· Anti-hedging and anti-pledging stock policies· Regularly conduct assessments to identify and mitigate risk in compensation programs· Evaluate executive compensation data and practices of our peer group companies as selected annually by the committee with guidance from the independent compensation consultant· Double-trigger change-in-control provisions· Independent compensation consultant· Formalized clawback policy· No tax gross-ups· No excessive perquisites· No repricing of equity incentive awards |     | · Diluted earnings per common share for the full year of 2024 were $3.46· Loans and leases increased 0.8% from 2023; total deposits decreased 2.0% from 2023· Asset quality, liquidity, and capital all remain strong· Ranked Number 24 among “Most Trustworthy Companies in America” in the banking industry category by Newsweek. Bank of Hawai'i was the only Hawai'i business listed.· Named Hawai'i’s Best Bank by the readers of the Hawaii Tribune-Herald (9th consecutive year) |

See “Commitment to Corporate Responsibility” starting on page 19 , “Compensation Discussion and Analysis” starting on page 38 , and “Business and Performance Overview” starting on page