Christine Y. Oh
About Christine Y. Oh
Executive Vice President and Chief Operating Officer (since Mar 3, 2025), previously EVP & Chief Financial Officer (Bank since Jul 2010; Company since Mar 2016). She has 34+ years of banking experience, holds a B.S. in Accounting from California State University, Northridge, and is age 58 as of the 2025 proxy filing date . Company performance used for incentive pay: in 2024, ROA was 0.92%, ROE 10.68%, and efficiency ratio 61.19% versus targets of 1.01%, 11.30%, and 57.35%; OPBK’s TSR value of an initial $100 was 144 in 2024 (98 in 2023, 87 in 2022) and net income was $21.1 million in 2024 . Her role change to COO occurred Mar 3, 2025 with no material employment term changes from the prior proxy description .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| OP Bancorp / Open Bank | EVP & COO | 2025–present | Elevated from CFO to drive bank-wide operations as part of 2025 succession plan . |
| OP Bancorp / Open Bank | EVP & CFO (Bank) | 2010–2025 | Long-tenured finance leader through IPO era and growth; Company CFO since 2016 . |
| Nara Bank / Nara Bancorp (now Bank of Hope / Hope Bancorp Inc.) | Interim CFO & Controller | Jan–Jul 2010 | Stabilized finance function pre-joining Open Bank . |
| Nara Bancorp / Nara Bank | SVP & Controller; Interim CFO (Mar–Jul 2005) | 1993–2010 | Controller leadership and interim CFO responsibilities . |
| Center Bank | Credit Analyst | 1991–1993 | Early analyst experience; entry into banking . |
External Roles
No public company board roles or external directorships are disclosed in the 2025 and 2024 proxy executive biographies for Ms. Oh .
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | 294,340 | 324,458 | 337,461 |
| Target Bonus Cap (% of salary) | up to 45% for other executive officers | up to 35% for other executive officers | up to 35% for other executive officers |
| Actual Annual Bonus ($) | 140,000 | 112,700 | 65,700 |
| Stock/RSU Awards ($ grant-date) | 129,000 | 97,200 (12,000 RSUs at $8.10 on 5/25/23) | — |
| Other Compensation ($) | 20,060 | 21,868 | 22,648 |
| Total Compensation ($) | 583,400 | 556,226 | 425,809 |
Performance Compensation
| Element | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Bank Goals (ROA, ROE, Efficiency) – 2024 | 60% (other execs) | ROA 1.01%; ROE 11.30%; Efficiency 57.35% | ROA 0.92%; ROE 10.68%; Efficiency 61.19% | Contributed to 19.4% of salary bonus outcome | Cash bonus determined/paid Mar 2025 |
| Individual Goals – 2024 | 40% (other execs) | Role-specific | As evaluated by HRCC | Included in above | Cash bonus determined/paid Mar 2025 |
| Bank Goals (ROA, ROE, Efficiency) – 2023 | 60% (other execs) | ROA 1.17%; ROE 13.52%; Efficiency 56.64% | ROA 1.13%; ROE 13.05%; Efficiency 57.59% | Contributed to 34% of salary bonus outcome | Cash bonus determined/paid Mar 2024 |
| Individual Goals – 2023 | 40% (other execs) | Role-specific | As evaluated by HRCC | Included in above | Cash bonus determined/paid Mar 2024 |
2024 bonus: $65,700 (19.4% of salary). 2023 bonus: $112,700 (34% of salary). Performance metrics are explicitly ROA, ROE, and efficiency ratio with fixed weightings for non-CEO executives .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (4/30/2025) | 140,790 shares; 0.95% of class; includes 4,000 RSUs vesting within 60 days . |
| Unvested RSUs outstanding (12/31/2024) | 18,000 units; market value $284,580 at $15.81 closing price . |
| RSU Vesting Schedules | 10,000 RSUs: cliff vest at 3 years from grant date 2/24/2022 (i.e., 2/24/2025); 12,000 RSUs: 1/3 annually from grant date 5/25/2023 (i.e., scheduled on/around 5/25/2024, 5/25/2025, 5/25/2026), subject to service . |
| Stock Options | None disclosed for Ms. Oh under current plan tables; no options outstanding in NEO table . |
| Pledging/Hedging | Company policy prohibits holding OPBK securities in margin accounts or pledging as collateral; hedging transactions strongly discouraged and require pre-approval . |
| Trading Controls | Pre-clearance required for directors/executive officers; blackout from 15 days before quarter-end until two business days after earnings release; 10b5-1 plan guidelines require approval and cooling-off periods . |
Employment Terms
| Term | Detail |
|---|---|
| Current Role | EVP & Chief Operating Officer; effective Mar 3, 2025 . |
| Prior Role | EVP & CFO (Bank since Jul 2010; Company since Mar 2016) . |
| Severance / CIC Plan | Participant in Executive Change in Control Plan: if terminated without cause within 6 months before or 12 months after a change in control, or resigns for good reason during that period, cash severance = 150% of base salary; company pays COBRA premiums for 12 months (double-trigger) . |
| Non-solicitation | Upon severance under the plan: 1-year non-solicit of employees and customers . |
| Clawback | Company has an Exchange Act Rule 10D-1/Nasdaq 5608-compliant clawback policy covering cash and equity incentive compensation . |
| Insider Trading | Strict policy and certifications; pre-clearance and blackout windows; 10b5-1 plan governance . |
Compensation Structure Analysis
- Mix shift toward cash in 2024: no equity grant in 2024 vs. a 12,000-RSU grant in 2023 ($97,200 grant-date value) .
- Lower at-risk pay in 2024: bonus fell to 19.4% of salary from 34% in 2023, aligned with missing ROA/ROE/efficiency targets; HRCC retained discretion but payouts followed the plan .
- Equity awards are only RSUs (no options), reducing leverage and near-term selling pressure vs. options; vesting dates are disclosed and spread across years .
- Policies reduce governance risk: mandatory pre-clearance and blackout windows, anti-pledging, and an adopted clawback policy .
Say-on-Pay & Shareholder Feedback
- 2025 say-on-pay passed with 8,574,990 votes for, 296,287 against, 58,115 abstentions; frequency vote strongly favored annual say-on-pay (8,535,724 votes for one-year) .
Performance & Track Record Indicators (Company-Level)
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income ($000s) | 33,310 | 23,918 | 21,069 |
| ROA (%) | 1.74 | 1.13 | 0.92 |
| ROE (%) | 19.57 | 13.05 | 10.68 |
| Efficiency Ratio (%) | 47.42 | 57.59 | 61.19 |
| TSR – $100 initial value | 87 | 98 | 144 |
| 2024 Targets (ROA/ROE/Efficiency) | — | — | 1.01 / 11.30 / 57.35 |
Risk Indicators & Red Flags
- Hedging/pledging: prohibited (pledging ban; hedging discouraged with pre-approval), lowering alignment risk from collateralized borrowing or monetization .
- Clawback: adopted and broad in scope, mitigating restatement-related windfalls .
- Related party transactions: none material beyond ordinary-course banking relationships; officers/directors group deposits of $2.3 million as of 12/31/2024 .
- Governance signals: strong 2025 say-on-pay support and annual frequency preference from shareholders .
Equity Vesting & Potential Insider Selling Pressure
- Scheduled vesting events: 10,000 RSUs cliff vest at 3 years from 2/24/2022 (i.e., 2/24/2025); 12,000 RSUs vest 1/3 annually from 5/25/2023 (i.e., on/around 5/25/2024, 5/25/2025, 5/25/2026), subject to continued service .
- Trading governance: any post-vesting sales remain subject to pre-clearance, blackout windows, and 10b5-1 constraints, which can diffuse near-term selling pressure and improve transparency .
Investment Implications
- Incentive alignment: Pay outcomes track bank-level performance; 2024 pay-downshift (bonus/equity) aligns with below-target ROA/ROE/efficiency, signaling a functioning pay-for-performance framework .
- Retention/CIC economics: Double-trigger CIC at 1.5x base and 12 months COBRA for Ms. Oh is moderate; coupled with long tenure and sizable stock ownership (0.95%), retention risk appears contained absent a transaction .
- Selling pressure: Known RSU vesting dates (Feb and May annually) are potential technical supply windows, but pre-clearances, blackout periods, and 10b5-1 practices mitigate abrupt selling risk .
- Governance quality: Anti-pledging, clawback, and strong say-on-pay support reduce governance red flags; absence of option awards limits risk-taking incentives and near-term dilution .