Lisa K. Pai
HOPE BANCORPAbout Lisa K. Pai
Lisa K. Pai (age 65) is an independent director of Hope Bancorp, Inc. and Bank of Hope, serving since December 8, 2021. She is a retired banker and attorney with 26 years’ experience as general counsel and corporate secretary across Korean American banks; she holds a B.A. in Economics from the University of Chicago and a J.D. from UCLA School of Law, with core credentials in banking/regulatory compliance, corporate governance, and executive leadership .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Hope Bancorp, Inc. and Bank of Hope | Executive Vice President, General Counsel and Corporate Secretary | 2016–2020 | Senior legal and governance leadership at the combined institution |
| Wilshire Bancorp, Inc. and Wilshire Bank | EVP, Chief Legal & Human Resources Officer; Corporate Secretary | 2012–2016 | Led legal and HR during pre-merger period |
| BBCN Bancorp, Inc.; Nara Bancorp, Inc.; Center Financial Corporation | General counsel/corporate secretary capacities | Prior to 2012 (dates not disclosed) | Legal and governance roles at predecessor institutions |
| Thelen, Marrin, Johnson & Bridges | Attorney | 1990–1994 | Early career in private practice |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| First Choice Bank | Director | Apr 2021–Jul 2021 | Short-term board service following retirement from Bank of Hope |
| Hope Scholarship Foundation (Bank of Hope subsidiary) | Board/advisory roles | Not disclosed | Community engagement |
| Center for the Pacific Asian Family (non-profit) | Board/advisory roles | Not disclosed | Community engagement |
| Los Angeles County Bar Association | Board/advisory roles | Not disclosed | Professional association involvement |
| Korean American Bar Association of Southern California | Board/advisory roles | Not disclosed | Professional association involvement |
| UCLA Asian Pacific Alumni Association | Board/advisory roles | Not disclosed | Alumni engagement |
Board Governance
- Committee assignments: Board Risk Committee and Executive Committee (not a chair). 2024 meetings: Board Risk (8), Executive (6). All current directors attended at least 75% of Board and committee meetings in 2024 .
- Independence: The Board determined nine of eleven director nominees are independent; Pai is listed as independent (“ü”). Only CEO Kevin S. Kim and Honorary Chairman Steven S. Koh are not independent .
- Governance practices include 100% independent Audit, Compensation, and Nomination Committees; Lead Independent Director with executive sessions; annual evaluations; equity ownership guidelines for directors .
Fixed Compensation
| Component | 2024 Amount ($) | Notes |
|---|---|---|
| Annual director retainer (cash) | $54,000 | Standard non-employee director retainer |
| All other compensation | $15,000 | Health insurance coverage or in-lieu payments ($15,000 annually) |
| Total cash and other | $69,000 | Sum of cash retainer and health-related payments |
| Equity (stock awards fair value) | $54,000 | RSU grant valued at grant-date closing price |
| Total annual compensation | $123,000 | Cash + equity + other |
Performance Compensation
| Grant Type | Grant Date | Shares Granted | Grant-Date Fair Value | Vesting | Unvested RSUs Outstanding (12/31/2024) | Options Outstanding |
|---|---|---|---|---|---|---|
| RSUs | July 3, 2024 | 5,137 | Based on $10.51 closing price | Generally vest one year from grant | 5,137 | None |
- Performance metrics: Director RSUs are time-based only; no performance conditions (e.g., revenue/EBITDA/TSR) are disclosed for directors’ equity awards .
- Hedging and pledging: Company policy prohibits hedging and pledging of Company stock; exceptions to pledging may be granted by Legal if the individual can clearly repay without using pledged securities .
Other Directorships & Interlocks
| Company | Role | Dates | Notes |
|---|---|---|---|
| First Choice Bank | Director | Apr 2021–Jul 2021 | Prior public company bank board service; no other current public boards disclosed in biography/nominee summary |
Expertise & Qualifications
- Banking and regulatory compliance; corporate governance and ethics; executive leadership and management roles .
- Education: B.A. Economics (University of Chicago); J.D. (UCLA School of Law) .
Equity Ownership
| Item | Amount | Notes |
|---|---|---|
| Shares owned (direct/indirect) | 44,327 | Beneficial ownership as of record date |
| RSUs to vest within 60 days | 5,137 | Included in total beneficial ownership |
| Total beneficial ownership (shares) | 49,464 | Sum of owned shares and near-term RSUs |
| Ownership as % of outstanding | <1% | 121,074,988 shares outstanding as of 3/24/2025 ; ~0.04% derived (49,464/121,074,988) |
| Options exercisable within 60 days | 0 | None listed for Pai |
| Aggregate unvested RSUs (12/31/2024) | 5,137 | Outstanding unvested director RSUs |
| Stock ownership guidelines target | 13,181 shares | 3x annual retainer ($54,000) / $12.29 closing price (12/31/2024) |
| Guideline compliance | Satisfied (“ü”) | Held 49,464 vs. 13,181 target |
Governance Assessment
- Independence and experience: Pai is affirmed independent and brings deep legal/governance expertise from prior GC roles, supporting board oversight of regulatory and ethics matters .
- Committee engagement: Active on risk oversight and executive committees; Board Risk met eight times in 2024 and Executive six; attendance threshold met (≥75%)—no engagement concerns signaled .
- Ownership alignment: She exceeds director ownership guidelines (holds 49,464 vs. 13,181 target), and has no options outstanding; RSUs are time-based, aligning with long-term equity participation .
- Conflicts and related-party exposure: The proxy reports no existing or proposed material related-party transactions beyond ordinary-course banking relationships approved under policy; loans to directors/officers are on market terms and reviewed by independent directors/Audit Committee .
- Risk indicators: Anti-hedging and anti-pledging policy reduces misalignment risk; all officers/directors complied with Section 16(a) reporting—no delinquency noted .
RED FLAGS
- Recent former executive: Served as EVP, GC & Corporate Secretary until 2020 and joined board in December 2021, which can raise perceived independence questions; the Board explicitly determined she is independent under Nasdaq and SEC standards .
- Pledging exceptions: While pledging is prohibited, exceptions may be granted by Legal subject to demonstrated capacity—no pledging by Pai is disclosed, but the exception policy is a governance watchpoint .