Preliminary proxy statement not related to a contested matter or merger/acquisition

Pay vs Performance Disclosure

v3.25.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

Pay Versus Performance (“PVP”)

In accordance with Item 402(v) of Regulation S-K, we are providing the following information regarding the relationship between executive compensation and our financial performance for each of the last five completed calendar years. In determining the Compensation Actually Paid to our principal executive officer (“PEO”) and Non-PEO NEOs reported in the table below, we are required to make various adjustments to amounts that have been previously reported in the Summary Compensation Table in previous years, as the SEC’s valuation methods for this section differ from those required in the Summary Compensation Table. The table below summarizes compensation values both previously reported in our Summary Compensation Table, as well as the adjusted values required in this section for the 2020, 2021, 2022, 2023, and 2024 calendar years. Note that for our NEOs other than our PEO, compensation is reported as an average.

 

 

 

 

 

 

 

 

 

 

 

Value of Initial Fixed $100 Investment based on: (3)

 

 

 

 

 

Year

 

Summary Compensation Table Total for Bonita I. Lee
($) (1)

 

Compensation Actually Paid to Bonita I. Lee
($) (1)

 

Average Summary Compensation Table Total for Non-PEO NEOs
($) (2)

 

Average Compensation Actually Paid to Non-PEO NEOs
($) (2)

 

TSR
($)

 

Peer Group TSR
($)

 

Net Income
($ Millions) (4)

 

Return on
Average
Assets (5)

 

2024

 

 

2,268,302

 

 

3,084,111

 

 

725,173

 

 

895,696

 

 

147

 

 

124

 

 

62.2

 

 

0.83

%

2023

 

 

2,073,765

 

 

1,383,605

 

 

668,792

 

 

560,197

 

 

114

 

 

108

 

 

80.0

 

 

1.08

%

2022

 

 

2,213,109

 

 

2,543,027

 

 

659,563

 

 

694,852

 

 

138

 

 

108

 

 

101.4

 

 

1.44

%

2021

 

 

1,869,786

 

 

2,927,802

 

 

604,668

 

 

750,438

 

 

127

 

 

120

 

 

98.7

 

 

1.64

%

2020

 

 

1,463,615

 

 

1,193,723

 

 

452,948

 

 

344,616

 

 

59

 

 

89

 

 

42.2

 

 

0.72

%

 

(1)
The PEO was Bonita I. Lee for each year shown in the table above.
(2)
Non-PEO NEOs for 2021, 2022, 2023, and 2024 were Romolo C. Santarosa, Anthony Kim, Matthew D. Fuhr, and Michael Du. Non-PEO NEOs for 2020 were Romolo C. Santarosa, Anthony Kim, Matthew D. Fuhr, and Min Park.
(3)
The Peer Group used for this calculation was the S&P U.S. Small Cap Banks Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2024. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year for the Company and in the S&P U.S. Small Cap Banks Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.
(4)
Net Income reflected represents GAAP Net Income as reported on Form 10-K consolidated financials.
(5)
We determined Return on Average Assets (ROAA) to be the most important financial performance measure used to link Company performance to the Compensation Actually Paid to our PEO and Non-PEO NEOs in 2024.
       
Company Selected Measure Name Return on Average Assets (ROAA)        
Named Executive Officers, Footnote Non-PEO NEOs for 2021, 2022, 2023, and 2024 were Romolo C. Santarosa, Anthony Kim, Matthew D. Fuhr, and Michael Du. Non-PEO NEOs for 2020 were Romolo C. Santarosa, Anthony Kim, Matthew D. Fuhr, and Min Park.        
Peer Group Issuers, Footnote The Peer Group used for this calculation was the S&P U.S. Small Cap Banks Index        
PEO Total Compensation Amount $ 2,268,302 $ 2,073,765 $ 2,213,109 $ 1,869,786 $ 1,463,615
PEO Actually Paid Compensation Amount $ 3,084,111 1,383,605 2,543,027 2,927,802 1,193,723
Adjustment To PEO Compensation, Footnote

PEO Compensation

To determine the amounts in column (c) of the PVP table above, the following amounts were deducted from and added to (as applicable) the PEO’s total compensation as reported in the Summary Compensation Table (“SCT”), in accordance with Item 402(v) of Regulation S-K.

 

 Year

 

SCT Total for
PEO
($)

 

 

SCT Reported
Equity Award
Value for PEO
($)

 

 

Equity Award
Adjustments for
PEO
($) (1)

 

 

Compensation 
Actually Paid to 
PEO 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 2024

 

 

2,268,302

 

 

 

(803,409

)

 

 

1,619,218

 

 

 

3,084,111

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)
Represents the year-over-year change in the fair value of equity awards to Bonita I. Lee as summarized below:

 

 Year

 

Year End Fair
Value of
Unvested
Equity Awards
Granted in the
Year
($)

 

 

Year over Year
Change in Fair
Value of
Outstanding
Unvested Equity
Awards Granted
in Prior Years
($)

 

 

Fair Value as
of Vesting
Date of
Equity
Awards
Granted and
Vested in
the Year
($)

 

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year
($)

 

 

Fair Value at the
End of the Prior
Year of Equity
Awards that
Failed to Meet
Vesting
Conditions in the
Year
($)

 

 

Value of
Dividends or
other Earnings
Paid on Equity
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
($)

 

 

Total Equity 
Award 
Adjustments 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 2024

 

 

1,534,983

 

 

 

338,374

 

 

 

—

 

 

 

(254,139

)

 

 

—

 

 

 

—

 

 

 

1,619,218

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the table above, the equity values are computed in accordance with the methodologies used for financial reporting purposes, and for unvested awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions.

       
Non-PEO NEO Average Total Compensation Amount $ 725,173 668,792 659,563 604,668 452,948
Non-PEO NEO Average Compensation Actually Paid Amount $ 895,696 560,197 694,852 750,438 344,616
Adjustment to Non-PEO NEO Compensation Footnote

Average Non-PEO NEO Compensation

To determine the amounts in column (e) in the PVP table, the following amounts were deducted from and added to (as applicable) our Non-PEO NEO’s average total compensation as reported in the SCT, in accordance with Item 402(v) of Regulation S-K.

 

  Year

 

Average SCT Total
for Non-PEO
NEOs
($)

 

 

Average SCT
Reported Equity
Award Value for
Non-PEO NEOs
($)

 

 

Average Equity
Award
Adjustments for
Non-PEO NEOs
($)

 

 

Average 
Compensation 
Actually Paid to 
Non-PEO NEOs 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 2024

 

 

725,173

 

 

 

(173,913

)

 

 

344,436

 

 

 

895,696

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Year

 

Year End Fair
Value of
Unvested Equity
Awards Granted
in the Year
($)

 

 

Year over Year
Change in Fair
Value of
Outstanding
Unvested Equity
Awards Granted
in Prior Years
($)

 

 

Fair Value as
of Vesting
Date of
Equity
Awards
Granted and
Vested in
the Year
($)

 

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year
($)

 

 

Fair Value at the
End of the Prior
Year of Equity
Awards that
Failed to Meet
Vesting
Conditions in
the Year
($)

 

 

Value of
Dividends or
other Earnings
Paid on Equity
Awards not
Otherwise
Reflected in
Fair Value or
Total
Compensation
($)

 

 

Total Equity 
Award 
Adjustments 
($)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  2024

 

 

329,917

 

 

 

65,034

 

 

 

—

 

 

 

(50,515

)

 

 

—

 

 

 

—

 

 

 

344,436

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In the table above, the equity values are computed in accordance with the methodologies used for financial reporting purposes, and for unvested awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions.

       
Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid (CAP) vs. Hanmi 5-year Cumulative TSR vs. Peer 5-year Cumulative TSR

The chart below sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, the Company’s cumulative TSR during the five most recently completed fiscal years, and the TSR for the S&P U.S. Small Cap Banks Index over the same period.

img143748249_65.jpg

        
Compensation Actually Paid vs. Net Income

Compensation Actually Paid (CAP) vs. Net-Income

The chart below sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and the Company’s net income during the five most recently completed fiscal years.

img143748249_66.jpg

        
Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid (CAP) vs. Company Selected Measure (CSM): Return on Average Assets

The chart below sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, and the Return on Average Assets during the four most recently completed fiscal years.

img143748249_64.jpg

        
Total Shareholder Return Vs Peer Group

Compensation Actually Paid (CAP) vs. Hanmi 5-year Cumulative TSR vs. Peer 5-year Cumulative TSR

The chart below sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our Non-PEO NEOs, the Company’s cumulative TSR during the five most recently completed fiscal years, and the TSR for the S&P U.S. Small Cap Banks Index over the same period.

img143748249_65.jpg

        
Tabular List, Table

Company-Selected Measure and Other Financial Performance Measures

The following financial performance measures are used to link Compensation Actually Paid to our PEO and Non-PEO NEOs for 2024 to Company performance. The measures in this table are not ranked.

 

Performance Measure

Return on Average Assets

Non-Performing Assets to Total Assets

Efficiency Ratio
       
Total Shareholder Return Amount $ 147 114 138 127 59
Peer Group Total Shareholder Return Amount 124 108 108 120 89
Net Income (Loss) $ 62,200,000 $ 80,000,000 $ 101,400,000 $ 98,700,000 $ 42,200,000
Company Selected Measure Amount 0.000083 0.000108 0.000144 0.000164 0.000072
PEO Name Bonita I. Lee        
Measure:: 1          
Pay vs Performance Disclosure          
Name Return on Average Assets        
Measure:: 2          
Pay vs Performance Disclosure          
Name Non-Performing Assets to Total Assets        
Measure:: 3          
Pay vs Performance Disclosure          
Name Efficiency Ratio        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (803,409)        
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,619,218        
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,534,983        
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 338,374        
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (254,139)        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (173,913)        
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 344,436        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 329,917        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 65,034        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (50,515)