0001104659-11-017411.txt : 20110329 0001104659-11-017411.hdr.sgml : 20110329 20110329160124 ACCESSION NUMBER: 0001104659-11-017411 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110325 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20110329 DATE AS OF CHANGE: 20110329 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BANK OF HAWAII CORP CENTRAL INDEX KEY: 0000046195 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 990148992 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06887 FILM NUMBER: 11718773 BUSINESS ADDRESS: STREET 1: 130 MERCHANT ST CITY: HONOLULU STATE: HI ZIP: 96813- BUSINESS PHONE: 8886433888 MAIL ADDRESS: STREET 1: 130 MERCHANT ST CITY: HONOLULU STATE: HI ZIP: 96846 FORMER COMPANY: FORMER CONFORMED NAME: PACIFIC CENTURY FINANCIAL CORP DATE OF NAME CHANGE: 19970430 FORMER COMPANY: FORMER CONFORMED NAME: BANCORP HAWAII INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: HAWAII BANCORPORATION INC DATE OF NAME CHANGE: 19800128 8-K 1 a11-8949_18k.htm 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

 

Date of Report

 

 

(Date of earliest event reported)

March 25, 2011

 

BANK OF HAWAII CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware

 

1-6887

 

99-0148992

(State of Incorporation)

 

(Commission

 

(IRS Employer

 

 

File Number)

 

Identification No.)

 

130 Merchant Street, Honolulu, Hawaii

 

96813

(Address of principal executive offices)

 

(Zip Code)

 

(Registrant’s telephone number, including area code) (808) 694-8822

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

 

 

 


 

Item 5.02(e)            Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On March 25, 2011 the Human Resources and Compensation Committee of the Board of Directors of Bank of Hawaii Corporation (the “Company”) approved a 3 year share appreciation program (the “SAP”), running from January 1, 2011 through December 31, 2013.  The SAP is a cash based performance unit program that  is designed to align the long term interests of shareholders and executives through risk management and the achievement of earnings  growth and stock price appreciation.  Performance grants will be awarded annually, with a potential maximum annual grant of 23,333 units for Mr. Peter S. Ho, Chairman, President and CEO; 15,000 units each for Mr. Kent T. Lucien, Vice Chairman and CFO, Mr. Mark A. Rossi, Vice Chairman, CAO, General Counsel and Corporate Secretary and Ms. Mary E. Sellers, Vice Chairman and Chief Risk Officer; and 11,668 units for Mr. Derek J. Norris, SEVP and Controller.  The number of annual units actually granted will depend upon the level of achievement of the performance objectives for the performance year.

 

The performance units vest on February 3, 2014 and are valued based upon Company stock price appreciation during the three year program period.  The SAP will be governed by the administration provisions of the Company’s 2004 Stock and Incentive Compensation Plan.

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

Date: March 29, 2011

BANK OF HAWAII CORPORATION

 

 

 

 

 

By:

/s/    MARK A. ROSSI

 

 

Mark A. Rossi

 

 

Vice Chairman and Corporate Secretary

 

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