Harry H. Chung
About Harry H. Chung
Independent director since 2016 (age 55) with over 30 years in capital markets and financial services; currently Chief Operating Officer and Chief Financial Officer of WhiteHawk Capital Partners (since 2020). He serves on Hanmi’s Audit and Compensation & Human Resources (CHR) committees and is designated an Audit Committee Financial Expert; he chairs the Audit Committee. He holds a B.S. in accounting from the University of Illinois at Urbana-Champaign. The Board affirms his independence under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Great American Capital Partners, LLC | Chief Operating Officer & Chief Financial Officer | 2017–2020 | Capital markets and corporate development expertise |
| Breakwater Investment Management | Chief Financial Officer | Not disclosed | Private investment firm finance leadership |
| Imperial Capital | Chief Financial Officer | Not disclosed | Investment bank finance leadership |
| Jefferies & Company, Inc. | Leadership positions | Not disclosed | Global investment bank; strategic planning and development |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| WhiteHawk Capital Partners | Chief Operating Officer & Chief Financial Officer | 2020–present | Shared firm affiliation with Hanmi’s Chairman John J. Ahn (CEO of WhiteHawk) |
Board Governance
- Committee assignments: Audit (Chair), CHR (Member). Audit Committee members: Chung (Chair), Chu, G. Lee, Rosenblum, Williams, Yang.
- Independence: Board deems all directors independent except the CEO; Chung is independent.
- Attendance and engagement: In FY2024 the Board held 9 joint meetings; all directors attended >75% of Board and committee meetings, and all directors attended the 2024 Annual Meeting. Audit Committee held 12 meetings in FY2024.
| Governance Metric | FY2024 | Evidence |
|---|---|---|
| Board meetings held (joint with Bank) | 9 | |
| Audit Committee meetings | 12 | |
| Director attendance threshold met | >75% for all directors | |
| Annual Meeting attendance | All directors attended (2024) | |
| Independence status | Independent | |
| Audit Committee Financial Expert designation | Yes (FE) |
Fixed Compensation
| Component (FY2024) | Amount (USD) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $67,500 | Reflects Board/committee membership and chair roles per policy |
| Stock Awards | $65,004 | Annual RSU grant; 4,040 shares at $16.09 grant-date price; vests one year from grant date (May 22, 2024) |
| Total | $132,504 | Sum of cash and equity fair value |
Director compensation policy applicable to Chung’s roles:
- Board annual retainer: $42,500; Audit Committee member retainer: $6,000; CHR Committee member retainer: $4,000; Audit Chair additional retainer: $12,000; annual restricted stock grant value target: $65,000 (2024).
Performance Compensation
- Directors do not receive performance-based incentives; equity is time-based restricted stock with one-year cliff vesting; no stock options outstanding.
| Award Type | Grant Date | Shares | Grant-Date Fair Value | Vesting | Options Outstanding |
|---|---|---|---|---|---|
| Restricted Stock (annual) | May 22, 2024 | 4,040 | $65,004 | Vests one year from grant date | None |
Other Directorships & Interlocks
| Entity | Type | Role | Interlock/Conflict Notes |
|---|---|---|---|
| Other public company boards | Public | None disclosed | No additional public directorships disclosed in proxy |
| WhiteHawk Capital Partners | Private investment advisor | COO & CFO | Shared affiliation with Hanmi Chairman John J. Ahn (CEO, WhiteHawk); Board independence affirmed; no related-party transactions requiring review in 2024 |
Expertise & Qualifications
- Financial leadership across investment banking and private investment firms; strategic planning and corporate development.
- Audit Committee Financial Expert designation and Audit Chair experience.
Equity Ownership
| Metric (as of April 2, 2025 unless noted) | Value | Notes |
|---|---|---|
| Shares beneficially owned | 34,476 | <1% of outstanding shares |
| Ownership % of outstanding shares | <1% | As disclosed by “* Less than 1%” |
| Unvested RSUs outstanding | 4,040 | Granted May 22, 2024; vests after one year |
| Stock options outstanding | 0 | No options outstanding for independent directors |
| Ownership guidelines | 3× annual retainer ($42,500) | Expected within 5 years; retain 50% net shares for 12 months |
| Guideline compliance (as of Dec 31, 2024) | In compliance | All directors met guidelines except Marasco (joined 2024) and Ball (joined 2025) |
Related Party & Insider Filings
- Related-party transactions: Policy requires Audit Committee review; no transactions requiring review/approval in 2024; director/affiliate banking relationships are ordinary-course on market terms.
- Section 16(a) filings: FY2024 filings timely for directors except noted late reports for Section 16 officers’ April 1, 2024 grants and Director Marasco’s May 23, 2024 grant; Chung not cited among late filers.
| Area | FY2024 Status | Notes |
|---|---|---|
| Related-party transactions requiring review | None | Per proxy disclosure |
| Section 16(a) director filings | Timely for directors, except Marasco | Chung not cited among late reports |
Compensation Committee Linkages
- CHR Committee membership includes Chung; CHR Committee conducted compensation risk assessment and recommended inclusion of CD&A. Independent compensation consultants reviewed director pay; CHR concluded practices do not create material adverse risk.
Governance Assessment
- Strengths: Independent director; Audit Chair with FE designation; solid attendance/engagement (Audit met 12x; Board >75% attendance across directors); meaningful equity ownership and guideline compliance; time-based RSUs avoid pay-for-performance distortion in director compensation.
- Potential watchpoints: Shared affiliation with WhiteHawk (with Chairman Ahn) represents a network interlock; however, Board independence is affirmed and no related-party transactions required review in 2024. Monitor any future banking relationships with WhiteHawk-related entities for ordinary-course adherence and Audit Committee oversight.
Investor confidence implications: Chung’s finance/operator background and Audit Committee leadership signal board effectiveness and financial rigor; equity grants and ownership guideline compliance align interests with shareholders. WhiteHawk affiliation should be monitored, but current disclosures mitigate conflict concerns.