UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 19, 2024, Peter S. Ho, Chairman, President and CEO of Bank of Hawaii Corporation (the “Company”) relinquished the title of President of the Company and, at the same time, the Board of Directors of the Company promoted Vice Chair and Chief Banking Officer James C. Polk to President of the Company. Mr. Ho will continue to serve as Chairman and Chief Executive Officer of the Company, and Mr. Polk will continue to report to Mr. Ho. In addition to his current responsibility overseeing Commercial Banking, Cash Management, Merchant Services and Wealth Management, Mr. Polk will now have executive oversight for Retail Banking, as well as Branch Banking and Contact Center, making him now responsible for all of the Company’s revenue-generating businesses.
Mr. Polk, age 58, joined the Company in 1999 and for the last 25 years has held a variety of leadership roles, including overseeing Commercial Banking, Consumer Banking, Retail Lending & Deposit Products, and the Company’s West Pacific Region. In 2016, he was promoted to Vice Chair, and became Chief Banking Officer in 2021.
In connection with his promotion, Mr. Polk’s annual salary has been increased to $570,000 and he was awarded a long-term, performance-based restricted stock unit award of $500,000.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 19, 2024 |
Bank of Hawaii Corporation |
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By: |
/s/ Patrick M. McGuirk |
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Patrick M. McGuirk |
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Vice Chair and Chief Administrative Officer |