Business Context and Reporting Period
This Form 8-K was filed by First Hawaiian, Inc. on June 8, 2018. The report discloses a transaction involving the sale of the Company's common stock by a major shareholder, BancWest Corporation (a subsidiary of BNP Paribas), rather than a routine financial performance update.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity for the Company. The only financial data disclosed relates to the specific share transaction:
- Shares Sold: 1,530,000 shares of Common Stock.
- Price Per Share: $27.56.
- Proceeds to Company: $0. The Company did not receive any proceeds from this sale.
Material Changes
The material event reported is the completion of the sale of 1,530,000 shares by BancWest Corporation. This transaction resulted from the underwriters' exercise of their option to purchase additional shares in connection with a previously announced underwritten public offering of 15,300,000 shares. This represents a reduction in the Selling Stockholder's position but does not alter the Company's capital structure or financial position directly.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies related to the Company's operations. The document strictly serves as a Regulation FD disclosure regarding the shareholder transaction. The text notes that the information is furnished pursuant to Item 7.01 and is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.
Investor Verification Checklist
- Verify the total number of shares sold by BancWest Corporation in the full offering (15,300,000 initial shares plus 1,530,000 option shares).
- Confirm the current ownership percentage of BancWest Corporation post-transaction.
- Review the Company's Registration Statement (File No. 333-224745) for details on the original offering terms.
- Note that the Company received no capital from this specific transaction.