SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

KIM KYU S.

(Last)

(First)

(Middle)

3200 WILSHIRE BLVD., SUITE 1400

(Street)

LOS ANGELES

90010

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HOPE BANCORP INC [ HOPE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SEVP, Eastern Region President

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	09/01/2020		M		1,800	A	$8.465	26,974	D
Common Stock	09/01/2020		F		612	D	$8.465	26,362	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Time-based Restricted Stock Units	⁽¹⁾							⁽¹⁾	⁽¹⁾	Common Stock	7,500		7,500	D
Performance-based Restricted Stock Units	⁽²⁾							⁽²⁾	⁽²⁾	Common Stock	3,750		3,750	D
Performance-based Restricted Stock Units	⁽³⁾							⁽³⁾	⁽³⁾	Common Stock	3,750		3,750	D
Time-based Restricted Stock Units	⁽⁴⁾							⁽⁴⁾	⁽⁴⁾	Common Stock	5,453		5,453	D
Time-based Restricted Stock Units	⁽⁵⁾							⁽⁵⁾	⁽⁵⁾	Common Stock	3,626		3,626	D
Performance-based Restricted Stock Units	⁽⁶⁾							⁽⁶⁾	⁽⁶⁾	Common Stock	2,719		2,719	D
Performance-based Restricted Stock Units	⁽⁷⁾							⁽⁷⁾	⁽⁷⁾	Common Stock	2,719		2,719	D
Time-based Restricted Stock Units	⁽⁸⁾							⁽⁸⁾	⁽⁸⁾	Common Stock	2,317		2,317	D
Time-based Restricted Stock Units	⁽⁹⁾							⁽⁹⁾	⁽⁹⁾	Common Stock	1,723		1,723	D
Performance-based Restricted Stock Units	⁽¹⁰⁾							⁽¹⁰⁾	⁽¹⁰⁾	Common Stock	2,584		2,584	D
Performance-based Restricted Stock Units	⁽¹¹⁾							⁽¹¹⁾	⁽¹¹⁾	Common Stock	2,584		2,584	D
Incentive Stock Option (right to buy)	$17.18							⁽¹²⁾	09/01/2026	Common Stock	30,000		30,000	D
Time-based Restricted Stock Units	⁽¹³⁾	09/01/2020		M			1,800	⁽¹³⁾	⁽¹³⁾	Common Stock	1,800	$8.465	1,800	D

Explanation of Responses:

1. Total 7,500 Restricted Stock Units ("RSU") were granted on April 22, 2020 pursuant to the Hope Bancorp, Inc. 2017 Long-Term Incentive Plan ("2017 LTIP") and the Hope Bancorp, Inc. 2020 Incentive Compensation Plan ("2020 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 2,500 shares each will vest annually on April 22, 2021, 2022, and 2023.

2. 3,750 performance-based restricted stock units ("PRSU") were granted on April 22, 2020 pursuant to the 2017 LTIP and 2020 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative ranking of the total stockholder return in relation to the KRX Index over an 11-quarter period from April 1, 2020 through December 31, 2022. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.

3. 3,750 PRSU were granted on April 22, 2020 pursuant to the 2017 LTIP and 2020 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative return on average assets in relation to the KRX Index over an 11-quarter period from April 1, 2020 through December 31, 2022. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.

4. Total 5,453 RSU were granted on March 6, 2020 pursuant to the Hope Bancorp, Inc. 2019 Incentive Compensation Plan ("2019 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 2,726 and 2,727 shares each will vest annually on March 6, 2021 and 2022 respectively.

5. Total 5,439 RSU were granted on May 23, 2019 pursuant to the 2017 LTIP and the 2019 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installment of 1,813 shares each will vest annually on May 23, 2020, 2021, and 2022.

6. 2,719 PRSU were granted on May 23, 2019 pursuant to the 2017 LTIP and 2019 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative return on average assets in relation to the KRX Index during the 11-quarter period from April 1, 2019 through December 31, 2021. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.

7. 2,719 PRSU were granted on May 23, 2019 pursuant to the 2017 LTIP and the 2019 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative ranking of the total stockholder return in relation to the KRX Index over an 11-quarter period from April 1, 2019 through December 31, 2021. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.

8. Total 4,634 RSU were granted on March 8, 2019 pursuant to the Hope Bancorp, Inc. 2016 Incentive Compensation Plan ("2016 ICP"). Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 2,317 shares each will vest annually on March 8, 2020 and 2021.

9. Total 5,168 RSU were granted on April 26, 2018 pursuant to the 2017 LTIP and 2016 ICP. Each RSU represents a contingent right to receive one share of Hope common stock. Installments of 1,722 shares will vest on April 26, 2019, and 1,723 shares each will vest annually on April 26, 2020, 2021.

10. 2,584 PRSU were granted on April 26, 2018 pursuant to the 2017 LTIP and the 2016 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU depends upon Hope's achievement of a specified increase in the cumulative quarterly earnings per share during the 11-quarter period from April 1, 2018 through December 31, 2020. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.

11. 2,584 PRSU were granted on April 26, 2018 pursuant to the 2017 LTIP and the 2016 ICP and subject to a 3-year cliff vesting. Vesting of these PRSU shares depends upon Hope's achievement of a specified relative ranking of the total stockholder return in relation to the KRX Index over a 11-quarter period from April 1, 2018 through December 31, 2020. Each PRSU represents a contingent right to receive one share of Hope common stock at Target performance. The "Target" number of shares is reported. Possible payout ranges from 0% of Target if the Threshold goal is not met, 50% to 99% on a prorated basis if the Threshold is met but the Target goal is not met, 100% to 149% on a prorated basis if the Target goal is met but the Stretch goal is not met, and 150% if the Stretch goal is met or exceeded.

12. Non-qualified stock options granted on September 1, 2016 pursuant to the 2016 ICP. These options vest annually in five equal installments on September 1st of 2017, 2018, 2019, 2020 and 2021.

13. On September 1, 2016, the reporting person was granted 9,000 RSU pursuant to the 2016 ICP. RSUs convert into common stock on a one-for-one basis and vest annually in five equal installments beginning on the first anniversary of the grant date.

Remarks:

	/s/Claire Hur as attorney-in-fact for Kyu S. Kim	09/03/2020
	** Signature of Reporting Person	Date
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