Business Context and Reporting Period
This Form 8-K Current Report was filed by First Hawaiian, Inc. on July 18, 2018, covering events occurring on July 15, 2018, and July 18, 2018. The filing addresses changes to the Company's Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
- Resignation: Thibault Fulconis resigned as a director of First Hawaiian, Inc. and its subsidiary, First Hawaiian Bank, effective immediately on July 15, 2018.
- Appointment: On July 18, 2018, the Board appointed Mr. Xavier Antiglio as a director to fill the vacancy created by Mr. Fulconis's resignation.
- Term: Mr. Antiglio will serve until his successor is elected and qualified.
- Designation: Mr. Antiglio was designated for appointment by BNP Paribas (BNPP) pursuant to the Stockholder Agreement dated August 6, 2016.
- Committee Roles: Mr. Antiglio is not expected to be appointed to any Board committees at this time.
Outlook, Risks, and Management Commentary
The filing notes that Mr. Antiglio is expected to be appointed to the Board of Directors of First Hawaiian Bank at the next meeting scheduled for July 25, 2018. The Company confirmed there have been no transactions since January 1, 2017, in which Mr. Antiglio or any related person had a direct or indirect material interest. No financial guidance, risks, or contingencies were disclosed in this specific filing.
Key Facts for Investor Verification
- Verify the terms of the Stockholder Agreement between First Hawaiian, Inc. and BNP Paribas regarding board representation rights.
- Confirm the date and outcome of the First Hawaiian Bank Board meeting scheduled for July 25, 2018, regarding Mr. Antiglio's appointment.
- Review the Company's subsequent filings to determine if Mr. Antiglio is assigned to any Board committees in the future.