Rachel H. Lee
HOPE BANCORPAbout Rachel H. Lee
Rachel H. Lee (age 40) was appointed to the Boards of Hope Bancorp, Inc. and Bank of Hope effective May 23, 2024, and is an independent director. She has 17 years of finance and investment experience and more than 10 years of board-related experience, previously serving as Partner and Head of the Consumer Private Equity practice at Ares Management Corporation through December 2022. She holds B.S. degrees in Business Administration and Accounting from the University of Southern California. She is designated an Audit Committee financial expert and serves on the Audit Committee and Board Risk Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ares Management Corporation | Partner; Head of Consumer Private Equity practice | Through Dec 2022 | Led origination-to-monetization including diligence, debt raises, M&A add-ons, legal negotiations, IPOs |
| Cooper’s Hawk Winery & Restaurants | Director | 2019–2022 | Board experience at growth company |
| Floor & Decor Holdings, Inc. (NYSE: FND) | Director | 2015–2021 | Board experience at public company |
| Insight Global | Director | 2014–2016 | Board experience at private company |
External Roles
| Organization | Role | Tenure | Committees/Notes |
|---|---|---|---|
| Applied Digital Corporation (NASDAQ: APLD) | Director | Appointed Feb 2024 | Current public company directorship |
| Legacy Franchise Concepts | Director | Current | Private company board |
Board Governance
- Committee assignments: Audit Committee (member; financial expert) and Board Risk Committee (member). The Audit Committee held 15 meetings in 2024; Board Risk Committee held 8; all principal committees are fully independent .
- Independence: The Board determined all nominees except the CEO (Kevin S. Kim) and Honorary Chairman (Steven S. Koh) are independent; Ms. Lee is independent .
- Attendance and engagement: All current directors attended at least 75% of Board and applicable committee meetings in 2024 (during periods of service), and attended the 2024 annual meeting of stockholders .
- Audit Committee role: The Audit Committee oversees financial reporting, internal controls, and the independent auditor; Ms. Lee is listed as a financial expert and signed the Audit Committee Report .
- Anti-hedging/pledging policy: Directors are prohibited from hedging or pledging company stock (with narrow, pre-approved exceptions); supports alignment and risk control .
Fixed Compensation
| Year | Cash Fees | Health/Other | Notes |
|---|---|---|---|
| 2024 | $31,500 [partial year] | $8,750 [prorated] | Cash reflects annual director retainer from May 23, 2024 appointment; “Other” reflects prorated annual health insurance benefit (standard $15,000, prorated for Ms. Lee) |
- Current director fee schedule (effective May 23, 2024): Annual director retainer $54,000 cash + $54,000 equity RSUs; Committee Chair retainer $9,000 cash + $9,000 equity; Deputy Lead Independent Director $9,000 cash + $9,000 equity. RSUs typically grant on annual meeting date, vest on one-year anniversary or at next annual meeting; cash paid monthly .
Performance Compensation
| Grant Date | Instrument | Shares Granted | Grant-Date Fair Value | Vesting |
|---|---|---|---|---|
| July 3, 2024 | RSUs | 5,137 | $54,000 | One-year time-based vest (or at next annual meeting), typical plan terms |
- No option awards outstanding for Ms. Lee (aggregate options: “—”) .
- No performance metrics (TSR/revenue/EBITDA) tied to director compensation disclosed; RSUs are time-based .
Other Directorships & Interlocks
| Company | Relationship to HOPE | Potential Interlock/Conflict |
|---|---|---|
| Applied Digital (APLD) | Unrelated sector (data/compute infrastructure) | No HOPE-related transactions disclosed |
| Legacy Franchise Concepts | Unrelated sector | No HOPE-related transactions disclosed |
| Prior: Floor & Decor (FND); Cooper’s Hawk; Insight Global | Prior service | No HOPE-related transactions disclosed |
- Related-party transactions policy: All related party transactions reviewed/approved by independent directors; banking loans to related persons must be ordinary course and market terms; no material transactions involving directors disclosed beyond ordinary-course customer relationships .
Expertise & Qualifications
- Executive and incentive compensation and benefits; finance, capital markets and M&A; strategic planning, business development and operations .
- Audit Committee financial expert designation (enhanced oversight capability) .
Equity Ownership
| As of | Shares Beneficially Owned | RSUs to Vest within 60 Days | Options Exercisable within 60 Days | % of Shares Outstanding |
|---|---|---|---|---|
| Record Date (Mar 24, 2025) | 5,137 | 5,137 | — | <1% |
| Ownership Guideline Target | Shares Held (Direct/Indirect, incl. eligible RSUs) | Guideline Status |
|---|---|---|
| 13,181 (3x cash retainer; calc: $162,000 / $12.29 as of Dec 31, 2024) | 5,137 | Has until May 23, 2029 to comply |
- Director stock ownership guidelines: 3x annual cash retainer; five-year compliance window; all directors met guidelines except Ms. Lee, who is within the compliance period .
Governance Assessment
- Strengths: Independent director with deep buyout/M&A and compensation expertise; Audit Committee financial expert designation bolsters financial oversight; active service on Board Risk Committee; adherence to anti-hedging/pledging enhances alignment .
- Alignment: 2024 compensation mix weighed toward equity ($54,000 RSUs vs $31,500 cash), incentivizing long-term value; beneficial ownership currently modest but within five-year ramp mandate .
- Engagement: Met at least 75% attendance threshold in 2024 during period of service; Audit Committee highly active (15 meetings); directors attended 2024 annual meeting .
- Conflicts/RED FLAGS: No material related-party transactions disclosed for Ms. Lee; no options outstanding; anti-pledging policy mitigates collateral risk. Watchpoint: not yet at ownership guideline (normal for new appointee; target compliance by 5/23/2029) .
Overall signal: Ms. Lee’s PE and compensation background, audit financial expert status, and risk committee role support board effectiveness and investor confidence; ownership build over the next five years will be an important alignment milestone .