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BOH > SEC Filings for BOH > Form 8-K on 25-Apr-2014All Recent SEC Filings

Show all filings for BANK OF HAWAII CORP

Form 8-K for BANK OF HAWAII CORP


25-Apr-2014

Other Events


Item 8.01. Other Events.

On April 24, 2014, Peter S. Ho, Chairman, CEO and President and Mark A. Rossi, General Counsel, Corporate Secretary and Chief Administrative Officer of Bank of Hawaii Corporation (the "Company"), each adopted a pre-arranged stock trading plan to sell a limited amount of the Company's shares to pay for certain taxes not subject to tax withholding, which will be incurred as a result of the 2014 and 2015 vesting of certain previous restricted share grants. The pre-arranged stock trading plan is designed to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and the Company's insider trading policy regarding stock transactions (the "10b5-1 Plan"). The 10b5-1 Plan allows for the sale of a maximum of 5,000 shares of the Company's common stock commencing March 3, 2015 pursuant to a pre-established formula. The 10b5-1 Plan may terminate sooner in accordance with its terms. Mr. Ho and Mr. Rossi will continue to be subject to the Company's executive stock ownership guidelines. Stock ownership includes the value of vested stock options, restricted stock, stock units from qualified plans, and other stock. Transactions made under the 10b5-1 Plan will be disclosed publicly through Form 4 and Form 144 filings with the Securities and Exchange Commission. Except as may be required by law, the Company does not undertake to report on specific Rule 10b5-1 pre-planned stock trading plans of Company officers or directors, nor to report modifications or terminations of the aforementioned 10b5-1 Plan or the plan of any other individual.


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