Kyu S. Kim
HOPE BANCORPAbout Kyu S. Kim
Senior Executive Vice President now serving as Chief Relationship Banking Officer (effective April 1, 2025), previously Chief Commercial Banking Officer (Oct 2023–Mar 2025); age 64 as of the proxy record date. A 25+ year veteran, she joined Nara Bank in 1998 and built the Eastern region “from the ground up”; prior roles include EVP/Chief Commercial Banking Officer at BBCN Bank, Senior EVP/COO at Bank of Hope (Aug 2013–Jul 2016), and earlier VP/Chief Credit Officer at Foster Bank (1990–1997). Education: B.B.A. in Finance (University of Wisconsin–Oshkosh), graduate of the University of Wisconsin–Madison Graduate School of Banking and the ABA Stonier Graduate School of Banking (University of Pennsylvania), and Wharton Leadership Certificate. Company performance context around her 2024 NEO service: net income $99.6M (GAAP), EPS $0.82, with deposit mix improvements and loan growth inflection in 2H24; 2024 pay-versus-performance shows TSR of 106 (from a $100 base) and net income of $100M in the table (rounded) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Bank of Hope | Senior EVP & Chief Relationship Banking Officer | Apr 2025–present | Oversees legacy commercial lending and the Bank’s Korean subsidiary business |
| Bank of Hope | Senior EVP & Chief Commercial Banking Officer | Oct 2023–Mar 2025 | Oversight of commercial lending across Bank of Hope’s footprint |
| Bank of Hope | Senior EVP & Eastern Regional President | May 2017–Oct 2023 | Oversight of commercial lending and retail branches in NY/NJ/VA/GA/AL |
| Bank of Hope | Senior EVP & Head of Community Banking | Jul 29, 2016–May 2017 | Led legacy commercial lending teams and branch network post-merger |
| Bank of Hope | Senior EVP & Chief Operating Officer | Aug 2013–Jul 2016 | Bank-wide operations leadership |
| BBCN Bank | EVP & Chief Commercial Banking Officer | Nov 30, 2011–2013 | Commercial banking leadership post Center/Nara merger |
| Nara Bank | EVP & Eastern Regional Manager | Apr 2008–Nov 2011 | Built Eastern region presence from the ground up |
| Nara Bank | Various roles (joined) | 1998–2008 | Expansion of the Eastern region platform |
| Foster Bank | VP & Chief Credit Officer | Mar 1990–Sep 1997 | Credit leadership in Chicago |
External Roles
No public-company directorships or external board roles disclosed in the proxy .
Fixed Compensation
Multi-year compensation paid/earned (Summary Compensation Table):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | 417,981 | 434,239 | 461,446 |
| Bonus ($) | 79,286 | 130,050 | 25,465 |
| Stock Awards ($) | 218,514 | 228,506 | 251,314 |
| Options Awards ($) | — | — | — |
| Non-Equity Incentive Plan ($) | — | — | 67,595 |
| Change in Deferred Comp Earnings ($) | 2,240 | 2,384 | 2,537 |
| All Other Compensation ($) | 43,771 | 47,106 | 47,196 |
| Total ($) | 761,792 | 842,285 | 855,553 |
Key fixed-pay parameters:
- Approved base salary increased 7.2% to $470,000 in 2024 (from $438,229 in 2023), reflecting expanded role under the line-of-business realignment .
- Annual STIP target set at 45% of salary ($211,500 for 2024); threshold 50% and max 150% of target; 80% tied to corporate metrics and 20% discretionary based on individual objectives .
Performance Compensation
STIP scorecard metrics (corporate portion = 80% of award) and 2024 outcomes:
| Metric | Weight | Minimum | Target | Maximum | Actual 2024 | Payout vs Target |
|---|---|---|---|---|---|---|
| EPS (ex notable items) ($) | 25% | 0.80 | 1.00 | 1.20 | 0.85 | 63% |
| PPNR ROAA (ex notable items) (%) | 25% | 0.88 | 0.98 | 1.41 | 0.88 | 50% |
| Criticized loan ratio (avg) (%) | 20% | 2.66 | 2.33 | 2.06 | 3.35 | 0% |
| Total loan growth (%) | 15% | 0.00 | 3.00 | 6.00 | -1.62 | 0% |
| Avg deposit change ex brokered (%) | 15% | -4.00 | -2.00 | 3.00 | -2.58 | 78% |
| Corporate achievement factor | 100% | — | — | — | — | 40% |
- STIP payout linkage: Corporate achievement of 40% on the 80% component equated to approximately $67,595 paid to Ms. Kim under Non-Equity Incentive Plan Compensation for 2024; her discretionary/bonus portion was $25,465, both consistent with the STIP design .
2024 LTIP equity awards (granted July 19, 2024):
| Grant Type | Units | Grant Date FV ($) | Vesting |
|---|---|---|---|
| Time-vested RSUs | 10,185 | 129,248 | 1/3 annually on each of the first three anniversaries of grant (Jul 19, 2025–2027) |
| PSUs – Relative ROTCE (target) | 5,092 | 64,617 | Earned based on 3-year performance; scheduled to vest Mar 2027 if criteria met |
| PSUs – Relative TSR (target) | 5,093 | 57,449 | Earned based on 3-year performance; scheduled to vest Mar 2027 if criteria met |
Outstanding equity awards as of Dec 31, 2024 (selected line-items):
| Grant Date | Award Type | Shares Unvested/Unearned | YE2024 Value ($) |
|---|---|---|---|
| 3/23/2022 | RSUs | 1,551 | 19,062 |
| 3/23/2022 | RSUs | 2,792 | 34,308 |
| 3/22/2023 | RSUs | 3,772 | 46,358 |
| 3/22/2023 | RSUs | 5,334 | 65,555 |
| 7/19/2024 | RSUs | 10,185 | 125,174 |
| 3/23/2022 | PSUs | 1,861 | 22,872 |
| 3/23/2022 | PSUs | 931 | 11,442 |
| 3/22/2023 | PSUs | 3,200 | 39,328 |
| 3/22/2023 | PSUs | 1,602 | 19,689 |
| 7/19/2024 | PSUs | 5,092 | 62,581 |
| 7/19/2024 | PSUs | 5,093 | 62,593 |
LTIP design features:
- 2024 LTIP is 50% RSUs (service) and 50% PSUs (relative ROTCE and TSR) with three-year performance periods; prior 12‑month EPS goal eliminated to align with investor feedback .
Equity Ownership & Alignment
Beneficial ownership as of Mar 24, 2025 (record date):
| Holder | Shares Owned | Options Exercisable (60 days) | RSUs to Vest (60 days) | Total Beneficial | % Outstanding |
|---|---|---|---|---|---|
| Kyu S. Kim | 70,011 | 30,000 | — | 100,011 | <1% (of 121,074,988 shares) |
Options and moneyness:
- 30,000 stock options exercisable at $17.18, expiring Sep 1, 2026; no intrinsic value at YE2024 given close of $12.29, implying out‑of‑the‑money status .
Ownership policy and pledging:
- Company prohibits hedging and pledging of company stock by directors and covered employees; exceptions to pledging require demonstrated capacity to repay without resorting to pledged securities. No pledging by Ms. Kim is disclosed .
Deferred compensation (Legacy LTIP):
- Aggregate balance $359,464 with 2024 earnings of $21,724; Ms. Kim’s Legacy LTIP terms: up to $30,000 per year credited from 2008–2017 at 6.25% interest, vesting 50% at year 5 and 10% annually in years 6–10, payable starting at age 65 .
Employment Terms
Contracts and severance:
- No employment agreement for Ms. Kim; only the CEO has an employment agreement (with severance and acceleration terms) .
- Change-in-control treatment for NEO equity: accelerated vesting of unvested options/RSUs/PSUs upon a “Change in Control” as defined in the plans; options had no attributed value at YE2024 due to exercise prices above market .
Potential payments upon termination (as of Dec 31, 2024):
| Scenario | Cash Severance ($) | Equity Acceleration ($) | Total ($) |
|---|---|---|---|
| Voluntary termination/retirement | — | — | — |
| Involuntary termination (other than for cause) | — | — | — |
| Involuntary termination (for cause) | — | — | — |
| Termination in connection with change-in-control | — | 525,431 | 525,431 |
| Death | — | 525,431 | 525,431 |
| Disability | — | 525,431 | 525,431 |
Clawback policy:
- Adopted Oct 2023; covers recovery of erroneously awarded incentive compensation over a three-year lookback in the event of a material restatement, including cash incentives and equity awards; administered by the Compensation Committee per SEC/Nasdaq rules .
Compensation governance and peer group:
- 2024 Say‑on‑Pay approval ~97%, following program redesign to strengthen pay-for-performance alignment; Pearl Meyer engaged as independent consultant. 2024 compensation peer group includes regional banks such as Ameris, Cathay, Pacific Premier, Simmons, UCBI, WesBanco, WSFS, among others .
Investment Implications
- Pay-for-performance alignment: Below-target STIP payout (corporate factor 40%) and modest 2024 bonus reflect disciplined linkage to company results amid net interest margin headwinds, supportive of investor alignment .
- Retention incentives: Material unvested RSUs and PSUs across 2022–2024 grants with multi-year vesting (RSUs through Jul 2027; PSUs scheduled for Mar 2027) create medium-term retention hooks and defer monetization .
- Limited severance obligations: No individual employment agreement or cash severance; only single-trigger equity acceleration on change-of-control—reduces cash severance risk while preserving deal optionality .
- Insider selling pressure timeline: RSU vesting anniversaries (Jul 19 of 2025–2027) and PSU vesting gates (Mar 2027) are potential liquidity events; options likely non-exercised near term given $17.18 strike vs $12.29 YE2024 close, reducing near-term selling pressure from options .
- Governance safeguards: Anti-hedging/anti-pledging policy and an enforceable clawback mitigate misalignment and reputational risks, a positive for shareholders .