Donald D. Byun
HOPE BANCORPAbout Donald D. Byun
Independent director of Hope Bancorp, Inc. (Bank of Hope); age 73; director since 2016 with prior service on Wilshire Bancorp/Wilshire Bank boards (2004–2007; reappointed 2009–2016). Retired entrepreneur, founder and former President & CEO of Jay Dee, Inc. (apparel) and OTO Sportswear; B.A. in Economics from Yonsei University. Determined independent under Nasdaq rules; no family relationships or material legal issues disclosed.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Jay Dee, Inc. (apparel manufacturer) | Founder; President & CEO | 1993–2013 | Built and led operations; executive leadership |
| OTO Sportswear | Founder; President & CEO | 1988–2010 | Founded and led growth; executive leadership |
| Wilshire Bancorp/Wilshire Bank | Director | 2004–2007; reappointed 2009–2016 | Board service ahead of merger creating Hope Bancorp |
| Pacific Union Bank (LA) | Director | 2000–2004 | Board service; institution acquired by Hanmi Bank in April 2004 |
External Roles
| Category | Company | Role | Dates |
|---|---|---|---|
| Current public company boards | — | None disclosed beyond Hope Bancorp | — |
| Prior public company boards | Wilshire Bancorp/Wilshire Bank | Director | 2004–2007; 2009–2016 |
| Prior bank boards | Pacific Union Bank | Director | 2000–2004 |
Board Governance
- Committee assignments: Nomination & Governance Committee (member); Executive Committee (member). Not a chair.
- Independence: Board affirms independence for all directors except CEO Kevin S. Kim and Honorary Chairman Steven S. Koh; committees (Audit, Compensation, Nomination) are 100% independent.
- Attendance and engagement: All current directors attended at least 75% of the aggregate Board/committee meetings; all directors attended the 2024 annual meeting and are expected to attend the 2025 meeting (virtual).
- 2024 meeting cadence (context): Board held 10 joint meetings; Nomination Committee 6; Executive Committee 6.
- Shareholder support: Re-elected on May 22, 2025 with 98,060,643 “For” votes, 3,350,609 “Withheld,” 7,188,595 broker non-votes (strong support signal).
| Board/Committee | Role | 2024 Meetings | Independence |
|---|---|---|---|
| Board of Directors | Director | 10 (joint meetings) | Independent |
| Nomination & Governance | Member | 6 | Committee fully independent |
| Executive Committee | Member | 6 | Committee chartered; membership includes non-employee directors |
Fixed Compensation
| Component (FY 2024) | Amount (USD) | Notes |
|---|---|---|
| Fees earned/paid in cash | $62,250 | Includes director retainer and any chair fees (Byun not a chair) |
| Stock awards (RSUs grant-date fair value) | $63,000 | RSUs granted July 3, 2024 at closing price $10.51; annual director RSUs vest after one year or next annual meeting |
| All other compensation | $15,000 | Health insurance coverage or cash in lieu |
| Total | $140,250 | — |
| RSU Detail (Director equity) | Grant date | Shares | Vesting schedule | Unvested at 12/31/2024 |
|---|---|---|---|---|
| 2024 Director RSU grant | 7/3/2024 | 5,994 | One-year cliff (or earlier at next annual meeting) | 5,994 |
| Option Awards (legacy) | Shares | Exercise price | Grant date | Vesting | Expiration |
|---|---|---|---|---|---|
| Director stock options | 20,000 | $17.18 | 9/1/2016 | Fully vested on 9/1/2018 | 9/1/2026 |
Director fee program context (current as of 5/23/2024): Annual retainer $54,000 cash + $54,000 equity; committee chair add’l $9,000 cash + $9,000 equity; Deputy Lead Independent Director add’l $9,000 cash + $9,000 equity; health benefits $15,000.
Performance Compensation
- No performance-contingent equity is disclosed for non-employee directors; director equity is time-based RSUs, with historical options from 2016. No director-specific performance metrics, bonus targets, or PSUs are reported.
Other Directorships & Interlocks
| Entity | Relationship | Potential Interlock/Conflict |
|---|---|---|
| Jay Dee, Inc.; OTO Sportswear | Founder; former CEO | No related-party transactions disclosed with the Company |
| Pacific Union Bank | Former director | No current interlock; ordinary-course banking relationships with directors permitted under policy |
| Wilshire Bancorp/Wilshire Bank | Former director | Historical predecessor board service; no current interlock |
Related-party transaction policy: Audit Committee (independent) reviews related-person transactions; ordinary-course bank loans to directors must be on market terms and approved by independent directors; no material related-party transactions disclosed.
Expertise & Qualifications
- Executive leadership and management; financial services industry exposure; human capital and succession planning; prior bank board experience.
- Education: B.A. in Economics, Yonsei University.
- No family relationships; no material legal or bankruptcy issues disclosed.
Equity Ownership
| Ownership Measure (Record Date: 3/24/2025) | Shares | Notes |
|---|---|---|
| Direct/indirect common shares | 504,445 | Includes trust-held shares |
| Options exercisable within 60 days | 20,000 | $17.18 strike; expire 9/1/2026 |
| RSUs vesting within 60 days | 5,994 | From 7/3/2024 grant |
| Total beneficial ownership | 530,439 (<1%) | Based on 121,074,988 shares outstanding |
| Ownership for guideline assessment (12/31/2024) | 510,439 | Counts direct/indirect + vested and certain unvested RSUs |
| Director ownership guideline | 3x retainer (target 13,181 shares) | Retainer $54,000; price $12.29 at 12/31/2024 |
| Guideline status | Satisfied | Compensation Committee oversight |
Policy signals:
- Hedging prohibited; pledging prohibited absent case-by-case exception (no pledges disclosed).
- Insider trading policy and director code of ethics in place.
Governance Assessment
- Alignment: Ownership far exceeds the 3x retainer guideline (510,439 vs 13,181 target), supporting “skin in the game.”
- Effectiveness: Service on Nomination Committee strengthens board composition, independence evaluation, and annual performance assessments; consistent engagement with at least 75% attendance.
- Investor confidence: Strong re-election margin (98.1M “For” vs 3.35M “Withheld”); Say-on-Pay passed with 94.72% “For,” indicating supportive shareholder sentiment.
- Conflicts/Red flags: No material related-party transactions; hedging/pledging restrictions; no family ties or disclosed legal issues; historical options are out-of-the-money vs year-end price context, limiting opportunistic exercise incentives.
- Board independence: Board majority independent; key committees entirely independent; executive sessions led by Lead Independent Director.
Overall signal: High shareholder support, strong ownership alignment, and independent committee roles point to positive governance quality with low apparent conflict risk for Donald D. Byun.