Business Context and Reporting Period
This Form 8-K Current Report was filed by Bank of Hawaii Corp on February 19, 2026. The filing primarily addresses Item 5.02(e), detailing the approval of 2025 Executive Incentive Plan (EIP) awards and 2026 base salary adjustments for Named Executive Officers (NEOs) by the Human Resources and Compensation Committee.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on executive compensation actions rather than consolidated financial performance.
Material Changes and Compensation Actions
The Committee approved the following compensation adjustments effective February 19, 2026:
- 2025 EIP Awards: Performance-based cash awards were granted based on pre-established measures.
- Peter S. Ho (CEO): $2,312,500
- Bradley S. Satenberg (CFO): $425,000
- S. Bradley Shairson (CRO): $425,000
- Marco A. Abbruzzese (Wealth Management): $425,000
- Patrick M. McGuirk (CAO): $400,000
- Dean Y. Shigemura (Former CFO): $0
- 2026 Base Salaries:
- Peter S. Ho: $925,000
- Bradley S. Satenberg: $500,000
- Dean Y. Shigemura: $500,000
- S. Bradley Shairson: $500,000
- Marco A. Abbruzzese: $475,000
- Patrick M. McGuirk: $462,000
- Restricted Stock Unit (RSU) Grants:
- S. Bradley Shairson: 7,596 RSUs
- Bradley S. Satenberg: 6,330 RSUs
- Marco A. Abbruzzese: 5,697 RSUs
- Patrick M. McGuirk: 5,697 RSUs
- Peter S. Ho and Dean Y. Shigemura received no RSUs in this specific grant.
Guidance, Outlook, and Risks
The filing states that the Company follows a "pay-for-performance" philosophy, where performance-based awards are contingent upon achieving pre-determined results aligned with business strategy and shareholder value. No specific financial guidance, forward-looking revenue projections, or new risk factors were disclosed in this document.
Investor Verification Checklist
- Verify the specific performance metrics used to calculate the $2,312,500 EIP award for CEO Peter S. Ho.
- Confirm the vesting schedule and service conditions for the newly granted RSUs.
- Review the 2024 Stock and Incentive Plan (referenced in Exhibits 10.1 and 10.2) for details on the "Performance Based" and "Service Based" grant agreements.
- Check subsequent filings for the impact of these compensation costs on the 2026 financial statements.