Jaehyun Park
About Jaehyun Park
Jaehyun Park is Executive Vice President, Chief Financial Officer, and Corporate Secretary of OP Bancorp, appointed effective March 3, 2025. He is 53 years old and holds a B.S. in Economics (Korea University), an M.S. in Finance, and a J.D. (Suffolk University). Prior roles include Senior Vice President & Controller at OP Bancorp (2014–2025) and multiple finance positions at Nara Bank (now Bank of Hope) since 2005 . OP Bancorp’s operating performance at the outset of his tenure: Q1 2025 ROA 0.92%, ROE 10.73%, efficiency ratio 62.13%, net income $5.6 million, and NIM 3.01% .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| OP Bancorp / Open Bank | Senior Vice President & Controller | Jun 2014 – Mar 2025 | Led financial reporting and controls through growth and IPO era; prepared for CFO succession . |
| Nara Bank (now Bank of Hope) | Finance roles (various) | Apr 2005 – Jun 2014 | Built community banking finance expertise; supported multi-decade operations in Korean-American markets . |
External Roles
No public company directorships or external board roles disclosed in OP Bancorp filings reviewed .
Fixed Compensation
| Component | Detail | Period/Date |
|---|---|---|
| Base Salary | $250,000 initial annual base salary as CFO | Effective Mar 3, 2025 |
| Paid Time Off | Five weeks per year | Effective Mar 3, 2025 |
| Benefits | Eligible for all employee benefit plans | Effective Mar 3, 2025 |
| Management Incentive Plan eligibility | Discretionary cash incentive tied to Company performance and individual goals | Effective Mar 3, 2025 |
| Corporate Secretary | Serves as Corporate Secretary and signed 2025 Annual Meeting notice | May 16, 2025 |
Performance Compensation
| Incentive Type | Metric/Terms | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|---|
| RSU grant (initial) | Cash value equal to 40% of annual salary (computed $100,000), granted 7,675 RSUs | n/a | n/a | n/a | n/a | Vests equally over 5 years on grant anniversary |
| Annual cash bonus (MIP structure reference) | Company uses ROA, ROE, and Efficiency Ratio bank goals plus individual goals (2024 plan: ROA 1.01%, ROE 11.30%, Efficiency 57.35%; other execs capped at 35% of base) | Other execs: 60% bank goals / 40% individual goals (2024) | 2024 targets as listed | 2024 actuals: ROA 0.92%, ROE 10.68%, Efficiency 61.19% | Example payouts for 2024 (other execs): CFO (Ms. Oh) $65,700 (19.4% of base), CCO $55,900 (19.3%) | Annual, paid Mar 2025 (for 2024); Park’s 2025 bonus not yet disclosed |
Note: Park’s specific 2025 MIP targets and payout have not been disclosed; the table references OPBK’s disclosed MIP design and 2024 outcomes for other named executive officers .
Equity Ownership & Alignment
| Item | Amount/Detail | Date |
|---|---|---|
| Total beneficial ownership (initial) | 7,675 RSUs reported on Form 3 | Apr 10, 2025 |
| Ownership as % of shares outstanding | ≈0.05% based on 7,675 units vs 14,848,874 shares outstanding (record date) | Apr 30, 2025 |
| Vested vs unvested | Unvested: 7,675 RSUs; Vested: 0 (new grant, 5-year equal vesting) | Mar–Apr 2025 |
| Options | None disclosed; OPBK reported no options granted under 2021 Plan | 2024 year-end |
| Pledging/Hedging | Insider Trading Policy governs purchase, sale, hedging and other dispositions; no pledging by Park disclosed | May 16, 2025 |
| Ownership guidelines | Not disclosed for executives in reviewed filings | — |
Insider transactions:
- Filed Form 3 on April 10, 2025 (initial statement of beneficial ownership) reflecting 7,675 RSUs .
- Company site lists subsequent Form 4 filings in March–June 2025; detailed contents not disclosed in the documents reviewed here .
Employment Terms
| Term | Detail |
|---|---|
| Appointment effective date | March 3, 2025 |
| Base salary | $250,000 (initial) |
| RSU grant | Cash value equal to 40% of salary; vests equally over 5 years |
| PTO | Five weeks per year |
| Incentive eligibility | Eligible for Management Incentive Plan (company performance + individual goals) |
| Severance/change-of-control | Executive Change in Control Plan exists; participants selected by HRCC. Ms. Oh was a participant; Park’s participation status not disclosed |
| Clawback | OPBK clawback policy under Exchange Act Rule 10D-1 applies to CFO and other policy-making officers (cash and equity) |
Performance & Track Record
| Metric | Q1 2025 |
|---|---|
| Net Income ($mm) | $5.6 |
| ROA (%) | 0.92 |
| ROE (%) | 10.73 |
| Efficiency Ratio (%) | 62.13 |
| Net Interest Margin (%) | 3.01 |
| Gross Loans ($mm) | $2,043.9 |
| Total Deposits ($mm) | $2,189.9 |
Notable governance and shareholder signals:
- 2025 Say-on-Pay (advisory) received strong support: 8,574,990 For; 296,287 Against; 58,115 Abstain; broker non-votes 2,133,450 .
- Shareholders favored annual say-on-pay frequency: 8,535,724 votes for one year .
Compensation Structure Analysis
- Strong retention alignment via 5-year RSU vest; front-load value (40% of salary) but realized over time, reducing near-term selling pressure .
- OPBK’s incentive design ties executive pay to profitability and efficiency (ROA, ROE, efficiency ratio), supporting pay-for-performance alignment; 2024 actuals were below targets, and payouts for other execs were reduced accordingly .
- No stock options under the 2021 plan; equity usage is RSUs—lower risk profile vs options and less likelihood of option repricing risk .
Risk Indicators & Red Flags
- Clawback policy covering CFO mitigates restatement-related incentive risk .
- Insider Trading Policy explicitly governs hedging/pledging; no pledging activity disclosed for Park .
- No related-party transactions or legal proceedings concerning Park disclosed in reviewed materials .
Say-On-Pay & Shareholder Feedback
| Item | 2025 Vote Outcome |
|---|---|
| Advisory vote on executive compensation | For: 8,574,990; Against: 296,287; Abstain: 58,115; Broker non-votes: 2,133,450 |
| Frequency of say-on-pay | One year: 8,535,724; Two years: 2,472; Three years: 377,840; Abstain: 13,356; Broker non-votes: 2,133,450 |
Expertise & Qualifications
- Degrees: B.S. Economics (Korea University); M.S. Finance; J.D. (Suffolk University) .
- Deep community banking finance experience; OPBK controller for ~11 years prior to CFO appointment .
Work History & Career Trajectory
| Organization | Role | Tenure |
|---|---|---|
| OP Bancorp / Open Bank | EVP & CFO; Corporate Secretary | Mar 2025 – present |
| OP Bancorp / Open Bank | SVP & Controller | Jun 2014 – Mar 2025 |
| Nara Bank (Bank of Hope) | Various finance roles | Apr 2005 – Jun 2014 |
Compensation Committee & Governance Context
- HRCC is fully independent and administers executive incentive plans, targets, and equity programs; uses ROA/ROE/efficiency metrics and individual goals to determine payouts .
- Clawback and insider trading policies in place; Board committees actively oversee risk and compensation .
Investment Implications
- Retention risk appears low near-term given five-year equal RSU vesting and recent internal succession (Controller → CFO), which typically reduces transition execution risk .
- Pay-for-performance linkage is clear; if OPBK sustains ROA/ROE improvements while maintaining efficiency, CFO bonus potential increases under the existing framework, aligning incentives with shareholder returns .
- Insider selling pressure looks limited based on initial RSU grant and absence of disclosed open-market sales in reviewed filings; monitor upcoming Form 4s for any tax-withholding transactions or dispositions .
- Strong 2025 say-on-pay support suggests shareholder confidence in compensation design; continued delivery on profitability and capital discipline should reinforce alignment and reduce governance risk .