Steven S. Koh
HOPE BANCORPAbout Steven S. Koh
Honorary Chairman and director nominee at Hope Bancorp (HOPE); age 79 as of the record date. Director since 2016, named Honorary Chairman on July 6, 2017 in recognition of 30+ years of board service with predecessor institutions; founder and Chairman of Pacific Steel Corporation (1973), and director at Cedars‑Sinai since 2016. Education: B.A. and honorary Ph.D. from Yonsei University; completed the Executive Management Program at UCLA Anderson. Not independent under Nasdaq rules because he is the father of HOPE’s Chief Operating Officer, Peter J. Koh .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wilshire Bank | Director; Chairman | Director since 1986; Chairman since 1993 | Led predecessor bank, long‑tenured board leadership |
| Wilshire Bancorp, Inc. | Chairman | Since formation in 1993 | Holding company chair prior to merger |
| Hope Bancorp, Inc. | Chairman | Appointed at merger effective July 29, 2016 | Oversaw board during integration; later named Honorary Chairman (July 6, 2017) |
| Bank of Hope | Chairman | Appointed at merger effective July 29, 2016 | Post‑merger board leadership |
External Roles
| Organization | Type | Role | Tenure/Notes |
|---|---|---|---|
| Pacific Steel Corporation | Private company | Chairman; Founder | Founded 1973; international steel trading and distribution |
| Cedars‑Sinai | Non‑profit healthcare | Director | Appointed 2016; first and only Korean American to serve on its board |
| Overseas Korean Traders Association (OKTA) | Association | Leader/participant | Active involvement noted |
Board Governance
- Independence: Not independent; Board explicitly identifies Steven S. Koh (and the CEO, Kevin S. Kim) as non‑independent directors due to the familial relationship with Peter J. Koh (COO) .
- Committees: Board Risk Committee member; Executive Committee member (these are in addition to principal committees which are 100% independent) .
- Attendance: All directors attended at least 75% of board and committee meetings in 2024; all current directors attended the 2024 annual shareholders’ meeting .
- 2025 Election Support: Received 97,631,636 “For” votes and 3,779,616 “Withheld” (broker non‑votes: 7,188,595), elected for a one‑year term expiring at the 2026 annual meeting .
Fixed Compensation
| Component (2024) | Amount ($) | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | 82,800 | Includes annual director retainer and Honorary Chairman retainer |
| Stock Awards (RSUs) | 82,800 | Grant date fair value; RSUs generally vest on one‑year anniversary |
| All Other Compensation | 15,000 | Health insurance or cash in lieu |
| Total | 180,600 |
Director fee schedule (effective May 23, 2024):
- Director annual retainer: $54,000 cash + $54,000 equity + $15,000 other compensation
- Honorary Chairman annual retainer: $28,800 cash + $28,800 equity
- Committee chair annual retainer: $9,000 cash + $9,000 equity
- Deputy Lead Independent Director annual retainer: $9,000 cash + $9,000 equity
Performance Compensation
| Award Type | Grant Date | Quantity | Exercise Price | Vesting | Expiration | Grant Date Fair Value |
|---|---|---|---|---|---|---|
| RSUs (2024 annual grant) | 2024‑07‑03 | 7,878 | — | Time‑vest; one‑year anniversary (or next annual meeting) | — | 82,800 |
| Stock Options (Wilshire options exchanged) | 2016‑08‑01 | 6,167 | 14.65 | Fully vested | 2025‑08‑25 | — |
| Stock Options (post‑merger grant) | 2016‑09‑01 | 30,000 | 17.18 | Fully vested 2018‑09‑01 | 2026‑09‑01 | — |
Notes:
- Director equity awards are time‑vested; no disclosed performance metrics apply to director equity grants .
Other Directorships & Interlocks
| Company | Public/Private | Role | Interlocks/Notes |
|---|---|---|---|
| Pacific Steel Corporation | Private | Chairman | No public company interlocks disclosed |
| Cedars‑Sinai | Non‑profit | Director | Non‑profit board service |
- The proxy indicates principal committee compositions are 100% independent; no compensation committee interlocks involving HOPE executives disclosed .
Expertise & Qualifications
- Finance, capital markets and M&A; Financial services industry; Strategic planning, business development and operations .
Equity Ownership
| Metric | Value |
|---|---|
| Beneficial Ownership (shares) | 3,237,439 |
| Options Exercisable within 60 days | 36,167 |
| RSUs to Vest within 60 days | 7,878 |
| Total Beneficial Ownership | 3,281,484 |
| % of Shares Outstanding | 2.71% (based on 121,074,988 shares) |
| Shares held indirectly (trusts) | 3,167,023 (part of beneficial ownership) |
| Director Ownership Guidelines Target | 13,181 shares (3x $54,000 / $12.29) |
| Shares Held for Guideline Compliance | 3,245,317; guideline satisfied |
Policies:
- Insider trading, anti‑hedging, and anti‑pledging policies apply to directors; exceptions to pledging require Legal approval and demonstrated capacity to repay without resorting to pledged securities . No pledging by Steven S. Koh is disclosed in the proxy .
Insider Trades
| Period Searched | Result | Source |
|---|---|---|
| 2023‑01‑01 to 2025‑11‑19 | No Form 4 transactions found for “Steven S. Koh” at HOPE | Insider‑trades skill script output (transactionDate filter) – tool returned no records (search executed Nov 19, 2025) |
Note: Absence of recent Form 4s in the tool’s search window; not a definitive statement of no activity outside the window or under alternate filer naming conventions.
Governance Assessment
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Strengths:
- Extensive leadership experience across predecessor banks and current Honorary Chairman role; external leadership at Pacific Steel and Cedars‑Sinai adds network breadth .
- High personal stake: 3.24–3.28 million shares beneficially owned and meeting director ownership guidelines, aligning interests with shareholders .
- Board maintained independent oversight on principal committees; Compensation Committee entirely independent with no interlocks .
- Strong shareholder support in 2025 director election; 97.6 million “For” votes . 2025 Say‑on‑Pay passed with ~94.7% approval, indicating broad investor confidence in governance and pay practices .
-
Risk indicators and potential conflicts:
- Non‑independent status due to family relationship with the COO (Peter J. Koh); explicit Board designation as not independent . This is a standing related‑party sensitivity and may affect perceived board independence.
- Member of Board Risk Committee and Executive Committee while non‑independent; principal committees (Audit, Nomination, Compensation) remain 100% independent, but risk and executive roles can influence oversight optics .
- Related‑party transactions policy notes ordinary‑course lending to directors/officers/families on market terms and subject to independent approval; proxy indicates no existing or proposed material transactions beyond those disclosed, mitigating concerns, but continued monitoring is warranted .
- Option holdings expiring in 2025/2026; while immaterial to independence, they may factor into personal incentives around stock price timing .
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Engagement and attendance:
- Meets attendance expectations (≥75% of meetings in 2024); attended 2024 annual meeting, supporting board effectiveness .
Overall signal: High ownership and long industry experience support alignment; the familial relationship drives non‑independence and requires continued monitoring of committee roles and related‑party exposure. Principal committees remain fully independent, and shareholder votes in 2025 reflect confidence in current governance structure .