| TIME AND DATE | | | 8:30 a.m. on May | | |||
| PLACE | | | Virtual-only format www.virtualshareholdermeeting.com/ | | |||
| ITEMS OF BUSINESS | | | (1) | | | To elect | |
| | | | (2) | | | To ratify the selection of Moss Adams LLP as our independent registered public accounting firm for the year ending December 31, | |
| | | | (3) | | | To consider a nonbinding proposal to approve our executive compensation as described in the proxy statement. | |
| | | | (4) | | | To transact such other business as may properly come before the meeting and any adjournment or postponement thereof. | |
| RECORD DATE | | | To vote, you must have been a stockholder at the close of business on March | | |||
| PROXY VOTING | | | It is important that your shares be represented and voted at the meeting. You can vote your shares by completing and returning the proxy card or voting instruction card sent to you, or by voting by telephone or internet. Voting instructions are printed on your proxy or voting instruction card and included in the accompanying proxy statement. You can revoke a proxy at any time before its exercise at the meeting by following the instructions in the proxy statement. | | |||
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| | | | Vernon Hirata Corporate Secretary April | |
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| | Nominating and Corporate Governance | | Compensation | | Audit | | | Nominating and Corporate Governance | | Compensation | | Audit | | ||||||||
| | | Kirk W. Caldwell* Francis Tanaka Jennifer Isobe | | Kirk W. Caldwell* Howard Y. Ikeda Jennifer Isobe John M. Ohama | | Howard Y. Ikeda* John M. Ohama David S. Murakami Jennifer Isobe | | | | Kirk W. Caldwell* Francis Tanaka Jennifer Isobe | | Kirk W. Caldwell* Howard Y. Ikeda Jennifer Isobe John M. Ohama | | Howard Y. Ikeda* John M. Ohama David S. Murakami Jennifer Isobe | | ||||||
| Number of Meetings in 2020: | | 1 | | 2 | | 7 | | Number of Meetings in 2021: | | 1 | | 4 | | 6 | |
| Name and Address | | Number of Shares Owned | | Percent of Common Stock Outstanding | | Name and Address | | Number of Shares Owned | | Percent of Common Stock Outstanding | | ||||||||||||||||
| Territorial Savings Bank Employee Stock Ownership Plan 1132 Bishop St., Suite 2200 Honolulu, Hawaii 96813 | | | | 898,768 | | | | | 9.45% | | | Territorial Savings Bank Employee Stock Ownership Plan 1132 Bishop St., Suite 2200 Honolulu, Hawaii 96813 | | | | 883,400 | | | | | 9.48% | | | ||||
| Renaissance Technologies LLC (1) | | | Renaissance Technologies LLC (1) | | | ||||||||||||||||||||||
| Renaissance Technologies Holdings Corporation 800 Third Avenue New York, New York 10022 | | | | 685,488 | | | | | 7.21% | | | Renaissance Technologies Holdings Corporation 800 Third Avenue New York, New York 10022 | | | | 624,109 | | | | | 6.70% | | | ||||
| Dimensional Fund Advisors LP (2) Building One 6300 Bee Cave Road Austin, Texas, 78746 | | | | 590,542 | | | | | 6.21% | | | Dimensional Fund Advisors LP (2) Building One 6300 Bee Cave Road Austin, Texas, 78746 | | | | 563,801 | | | | | 6.05% | | |
| Name | | Position(s) Held With Territorial Bancorp Inc. | | Age(1) | | Director Since(2) | | Current Term Expires | | Shares Beneficially Owned as of March 12, 2021 | | Percent of Common Stock | | Name | | Position(s) Held With Territorial Bancorp Inc. | | Age(1) | | Director Since(2) | | Current Term Expires | | Shares Beneficially Owned as of March 18, 2022 | | Percent of Common Stock | | ||||||||||||||||||||||||||||||||||||||||||
| NOMINEES | | NOMINEES | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allan S. Kitagawa | | Chairman of the Board, President and Chief Executive Officer | | | | 75 | | | | | 1986 | | | | | 2021 | | | | | 232,535 (3) | | | | | 2.4% | | | Kirk W. Caldwell | | Director | | | | 69 | | | | | 2007 | | | | | 2022 | | | | | 34,227 | | | | | * | | | ||||||||||||
| John M. Ohama | | Director | | | | 62 | | | | | 2019 | | | | | 2021 | | | | | 10,000 (4) | | | | | * | | | Jennifer Isobe | | Director | | | | 63 | | | | | 2018 | | | | | 2022 | | | | | — | | | | | * | | | ||||||||||||
| CONTINUING DIRECTORS | | Francis E. Tanaka | | Director | | | | 76 | | | | | 2011 | | | | | 2022 | | | | | 4,839 (3) | | | | | * | | | |||||||||||||||||||||||||||||||||||||||
| Kirk W. Caldwell | | Director | | | | 68 | | | | | 2007 | | | | | 2022 | | | | | 34,227 | | | | | * | | | CONTINUING DIRECTORS | | |||||||||||||||||||||||||||||||||||||||
| Jennifer Isobe | | Director | | | | 62 | | | | | 2018 | | | | | 2022 | | | | | — | | | | | * | | | Howard Y. Ikeda | | Director | | | | 76 | | | | | 1988 | | | | | 2023 | | | | | 40,300 (4) | | | | | * | | | ||||||||||||
| Francis E. Tanaka | | Director | | | | 75 | | | | | 2011 | | | | | 2022 | | | | | 4,839 (5) | | | | | * | | | David S. Murakami | | Director | | | | 82 | | | | | 2006 | | | | | 2023 | | | | | 27,640 (5) | | | | | * | | | ||||||||||||
| Howard Y. Ikeda | | Director | | | | 75 | | | | | 1988 | | | | | 2023 | | | | | 40,300 (6) | | | | | * | | | Allan S. Kitagawa | | Chairman of the Board, President and Chief Executive Officer | | | | 76 | | | | | 1986 | | | | | 2024 | | | | | 241,872 (6) | | | | | 2.6% | | | ||||||||||||
| David S. Murakami | | Director | | | | 81 | | | | | 2006 | | | | | 2023 | | | | | 27,640 (7) | | | | | * | | | John M. Ohama | | Director | | | | 63 | | | | | 2019 | | | | | 2024 | | | | | 10,000 (7) | | | | | * | | | ||||||||||||
| EXECUTIVE OFFICERS WHO ARE NOT DIRECTORS | | EXECUTIVE OFFICERS WHO ARE NOT DIRECTORS | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Vernon Hirata | | Vice Chairman, Co-Chief Operating Officer, General Counsel and Corporate Secretary | | | | 68 | | | | | | | | | | | | | | | 155,550 (8) | | | | | 1.6% | | | Vernon Hirata | | Vice Chairman, Co-Chief Operating Officer, General Counsel and Corporate Secretary | | | | 69 | | | | | | | | | | | | | | | 161,414 (8) | | | | | 1.7% | | | ||||||||||||
| Ralph Y. Nakatsuka | | Vice Chairman and Co-Chief Operating Officer | | | | 65 | | | | | | | | | | | | | | | 170,439 (9) | | | | | 1.8% | | | Ralph Y. Nakatsuka | | Vice Chairman and Co-Chief Operating Officer | | | | 66 | | | | | | | | | | | | | | | 175,103 (9) | | | | | 1.9% | | | ||||||||||||
| Karen J. Cox | | Senior Vice President -Administration | | | | 75 | | | | | | | | | | | | | | | 41,915 (10) | | | | | * | | | Karen J. Cox | | Senior Vice President-Administration | | | | 76 | | | | | | | | | | | | | | | 43,217 (10) | | | | | * | | | ||||||||||||
| Richard K.C. Lau | | Senior Vice President and Chief Lending Officer | | | | 78 | | | | | | | | | | | | | | | 67,223 (11) | | | | | * | | | Richard K.C. Lau | | Senior Vice President and Chief Lending Officer | | | | 79 | | | | | | | �� | | | | | | | | | 68,770 (11) | | | | | * | | | |||||||||||
| Melvin M. Miyamoto | | Senior Vice President, Treasurer and Chief Financial Officer | | | | 67 | | | | | | | | | | | | | | | 46,426 (12) | | | | | * | | | Melvin M. Miyamoto | | Senior Vice President, Treasurer and Chief Financial Officer | | | | 68 | | | | | | | | | | | | | | | 44,182 (12) | | | | | * | | | ||||||||||||
| All Directors and Executive Officers as a Group (12 persons) | | | | | | | | | | | | | | | | | | | | | 831,094 | | | | | 8.7% | | | All Directors and Executive Officers as a Group (12 persons) | | | | | | | | | | | | | | | | | | | | | 851,564 | | | | | 9.1% | | |
Skills/Experience | | | Financial/Accounting/ Public Accounting | | | Banking Business | | | Head of Organization/ Business Owner | | | Residential real estate | | | Legal/ Regulatory | | | Risk management | | | Local community knowledge | |
Kirk W. Caldwell | | | | | | ● | | | ● | | | | | | ● | | | | | | ● | |
Howard Y. | | | ● | | | | | | ● | | | | | | | | | ● | | | ● | |
Jennifer Isobe | | | ● | | | | | | | | | | | | | | | ● | | | ● | |
Allan S. Kitagawa | | | ● | | | ● | | | ● | | | ● | | | | | | | | | ● | |
David S. Murakami | | | | | | ● | | | ● | | | ● | | | | | | | | | ● | |
John M. Ohama | | | | | | | | | ● | | | ● | | | ● | | | | | | ● | |
Francis E. Tanaka | | | ● | | | | | | | | | ● | | | | | | | | | ● | |
| Board Diversity Matrix as of April 6, 2022 | | ||||||||||||||||||
| Total Number of Directors | | | 7 | | |||||||||||||||
| | | | Female | | | Male | | | Non-Binary | | | Did Not Disclose Gender | | ||||||
| Part I: Gender Identity | | | | | | | | | | | | | | | | | | | |
| Directors | | | | | 1 | | | | | | 6 | | | | | | | | |
| Part II: Demographic Background | | | | | | | | | | | | | | | | | | | |
| African American or Black | | | | | | | | | | | | | | | | | | | |
| Alaskan Native or Native American | | | | | | | | | | | | | | | | | | | |
| Asian | | | | | 1 | | | | | | 5 | | | | | | | | |
| Hispanic or Latinx | | | | | | | | | | | | | | | | | | | |
| Native American or Pacific Islander | | | | | | | | | | | | | | | | | | | |
| White | | | | | 1 | | | | | | 1 | | | | | | | | |
| Two or More Races or Ethnicities | | | | | 1 | | | | | | | | | | | | | | |
| LGBTQ+ | | | | | | | | | | | | | | | | | | | |
| Did Not Disclose Demographic Background | | | | | | | | | | | | | | | | | | | |
| Component | | | Holding Company Board | | | Bank Board | | ||||||
| Annual Board Retainer | | | | $ | 5,100 | | | | | $ | 32,600 | | |
| Committee Member Retainer | | | | $ | 615 | | | | | $ | 2,450 | | |
| Audit Committee Chair Retainer | | | | $ | 8,570 | | | | | $ | 2,650 | | |
| Compensation Committee Chair Retainer | | | | $ | 1,225 | | | | | $ | 4,900 | | |
| Director Compensation Table for the Year Ended December 31, 2021 | | ||||||||||||
| Name | | | Fees earned or paid in cash ($) | | | Total ($) | | ||||||
| David S. Murakami | | | | | 40,812 | | | | | | 40,812 | | |
| Howard Y. Ikeda | | | | | 48,960 | | | | | | 48,960 | | |
| Kirk W. Caldwell | | | | | 43,872 | | | | | | 43,872 | | |
| Francis E. Tanaka | | | | | 40,812 | | | | | | 40,812 | | |
| Jennifer Isobe | | | | | 40,812 | | | | | | 40,812 | | |
| John M. Ohama | | | | | 40,812 | | | | | | 40,812 | | |
| | 2020 | | 2019 | | | 2021 | | 2020 | | ||||||||||||||||||
| Audit fees | | | $ | 497,000 | | | | $ | 535,000 | | | Audit fees | | | $ | 429,000 | | | | $ | 497,000 | | | ||||
| Audit-related fees (1) | | | $ | 60,900 | | | | $ | 60,740 | | | Audit-related fees (1) | | | $ | 63,875 | | | | $ | 60,900 | | | ||||
| Tax fees (2) | | | $ | 36,800 | | | | $ | 153,900 | | | Tax fees (2) | | | $ | 36,000 | | | | $ | 36,800 | | | ||||
| All other fees | | | $ | — | | | | $ | — | | | All other fees | | | $ | — | | | | $ | — | | |
| Director Compensation Table for the Year EndedDecember 31, 2020 | | ||||||||||||
| Name | | | Fees earned or paid in cash ($) | | | Total ($) | | ||||||
| David S. Murakami | | | | | 40,812 | | | | | | 40,812 | | |
| Howard Y. Ikeda | | | | | 48,960 | | | | | | 48,960 | | |
| Kirk W. Caldwell | | | | | 43,872 | | | | | | 43,872 | | |
| Francis E. Tanaka | | | | | 40,812 | | | | | | 40,812 | | |
| Jennifer Isobe | | | | | 40,812 | | | | | | 40,812 | | |
| John M. Ohama | | | | | 40,812 | | | | | | 40,812 | | |
| Name | | | Title | |
| Allan S. Kitagawa | | | Chairman of the Board, President, and Chief Executive Officer | |
| Vernon Hirata | | | Vice Chairman, Co-Chief Operating Officer, General Counsel, and Corporate Secretary | |
| Ralph Y. Nakatsuka | | | Vice Chairman and Co-Chief Operating Officer | |
| Performance Plan | | | Goal | | | Weighting Per Plan | |
| Annual Incentive Plan (cash) | | | | | | | |
| | | | Net Income | | | 60% | |
| | | | Return on Average Assets | | | 20% | |
| | | | Relative Non-Performing Assets/Total Assets | | | | |
| | | | Efficiency Ratio | | | 10% | |
| Long-Term Incentive Program (equity) | | | | | | | |
| | | | Relative 3-year Average Return on Average Equity | | | 80% | |
| | | | Relative 3-year Total Shareholder Return | | | 20% | |
| Name | | 2019 and 2020 Base Salary ($) | | % Change 2019 – 2020 | | Name | | 2020 Base Salary ($) | | 2021 Base Salary ($) | | % Change 2020-2021 | | ||||||||||||||||||||
| Allan S. Kitagawa | | | | 851,124 | | | | | 0% | | | Allan S. Kitagawa | | | | 851,124 | | | | | 851,124 | | | | | 0% | | | |||||
| Vernon Hirata | | | | 347,578 | | | | | 0% | | | Vernon Hirata | | | | 347,578 | | | | | 354,530 | | | | | 2% | | | |||||
| Ralph Y. Nakatsuka | | | | 347,578 | | | | | 0% | | | Ralph Y. Nakatsuka | | | | 347,578 | | | | | 354,530 | | | | | 2% | | |
| Named Executive Officer | | Threshold % of Salary | | Target % of Salary | | Maximum % of Salary | | Named Executive Officer | | Threshold % of Salary | | Target % of Salary | | Maximum % of Salary | | ||||||||||||||||||||||||
| Allan S. Kitagawa | | | | 15% | | | | | 30% | | | | | 45% | | | Allan S. Kitagawa | | | | 15% | | | | | 30% | | | | | 45% | | | ||||||
| Vernon Hirata | | | | 15% | | | | | 30% | | | | | 45% | | | Vernon Hirata | | | | 15% | | | | | 30% | | | | | 45% | | | ||||||
| Ralph Y. Nakatsuka | | | | 15% | | | | | 30% | | | | | 45% | | | Ralph Y. Nakatsuka | | | | 15% | | | | | 30% | | | | | 45% | | |
| 2020 AIP Performance Goals | | 2021 AIP Performance Goals | | ||||||||||||||||||||||||||||||||||||||||||||||||
| Measure | | Weighting | | Threshold | | Target | | Maximum | | Measure | | Weighting | | Threshold | | Target | | Maximum | | ||||||||||||||||||||||||||||||||
| Net Income (thousands) | | | | 60% | | | | $ | 14,617 | | | | $ | 16,241 | | | | $ | 17,865 | | | Net Income (thousands) | | | | 60% | | | | $ | 14,805 | | | | $ | 16,451 | | | | $ | 18,096 | | | ||||||||
| ROAA | | | | 20% | | | | | 0.70% | | | | | 0.78% | | | | | 0.86% | | | ROAA | | | | 20% | | | | | 0.67% | | | | | 0.74% | | | | | 0.81% | | | ||||||||
| Non-performing assets/total assets (1) | | | | 20% | | | | | 0.22% | | | | | 0.20% | | | | | 0.18% | | | Non-performing assets/total assets (1) | | | | 10% | | | | | 35th | | | | | 55th | | | | | 75th | | | ||||||||
| Payout Range (% of target) | | | | 100% | | | | | 50% | | | | | 100% | | | | | 150% | | | Efficiency Ratio | | | | 10% | | | | | 70.16% | | | | | 63.78% | | | | | 57.40% | | | ||||||||
| Payout Range (% of target) | | | | 100% | | | | | 50% | | | | | 100% | | | | | 150% | | |
| Measure | | | Weight | | | 2020 Results | | | Performance (as % of Target) | | |||||||||
| Net Income (thousands) | | | | | 60% | | | | | $ | 18,605 | | | | | | 150% | | |
| ROAA | | | | | 20% | | | | | | 0.89% | | | | | | 150% | | |
| Non-performing assets/total assets | | | | | 20% | | | | | | 0.21% | | | | | | 75% | | |
| Total (weighted) | | | | | 100% | | | | | | | | | | | | 135% | | |
| Measure | | | Weight | | | 2021 Results | | | Performance (as % of Target) | | |||||||||
| Net Income (thousands) | | | | | 60% | | | | | $ | 17,430 | | | | | | 130% | | |
| ROAA | | | | | 20% | | | | | | 0.82% | | | | | | 150% | | |
| Non-performing assets/total assets | | | | | 10% | | | | | | 80th | | | | | | 150% | | |
| Efficiency Ratio | | | | | 10% | | | | | | 63.30% | | | | | | 104% | | |
| Total (weighted) | | | | | 100% | | | | | | | | | | | | 133% | | |
| Measure | | Weight | | Threshold | | Target | | Stretch | | Measure | | Weight | | Threshold | | Target | | Stretch | | ||||||||||||||
| 3-year TSR — Relative to index | | | | 20% | | | 35th Percentile | | 55th Percentile | | 75th Percentile | | 3-year TSR — Relative to index | | | | 20% | | | 35th Percentile | | 55th Percentile | | 75th Percentile | | ||||||||
| 3-year Avg. Return on Average Equity — Relative to index | | | | 80% | | | 35th Percentile | | 55th Percentile | | 75th Percentile | | 3-year Avg. Return on Average Equity — Relative to index | | | | 80% | | | 35th Percentile | | 55th Percentile | | 75th Percentile | | ||||||||
| Payout Range (% of Target) | | | | 100% | | | 50% | | 100% | | 150% | | Payout Range (% of Target) | | | | 100% | | | 50% | | 100% | | 150% | |
| Measure | | | Wt. | | | Threshold | | | Target | | | Stretch | | | Actual Performance (Performance Factor) | | | Payout as % of target Incentive (Wt. x Perf. Factor) | | |||
| 3-year TSR — Relative to Industry Index | | | | | 20% | | | | 35th Percentile | | | 55th Percentile | | | 75th Percentile | | | 48th Percentile (81.5%) | | | 16.3% | |
| 3-year Average Return on Average Equity — Relative to Industry Index | | | | | 80% | | | | 35th Percentile | | | 55th Percentile | | | 75th Percentile | | | 52nd Percentile (93.3%) | | | 74.6% | |
| Payout Range (% of Target) | | | | | 100% | | | | 50% | | | 100% | | | 150% | | | | | | 90.9% | |
| Measure | | | Wt. | | | Threshold | | | Target | | | Stretch | | | Actual Performance (Performance Factor) | | | Payout as % of target Incentive (Wt. x Perf. Factor) | | |||
| 3-year TSR — Relative to Industry Index | | | | | 20% | | | | 35th Percentile | | | 55th Percentile | | | 75th Percentile | | | 28th Percentile (0.0)% | | | 0.0% | |
| 3-year Average Return on Average Equity — Relative to Industry Index | | | | | 80% | | | | 35th Percentile | | | 55th Percentile | | | 75th Percentile | | | 52nd Percentile (92.50)% | | | 74.00% | |
| Payout Range (% of Target) | | | | | 100% | | | | 50% | | | 100% | | | 150% | | | | | | 74.00% | |
| Name | | 2018 – 2020 RSUs Granted [a] | | Payout as % of Target Award [b] | | Earned Shares [c] = [a] x [b] | | Name | | 2019 — 2021 RSUs Granted [a] | | Payout as % of Target Award [b] | | Earned Shares [c] = [a] x [b] | | ||||||||||||||||||||||||
| Kitagawa | | | | 5,068 | | | | | 90.9% | | | | | 4,606 | | | Kitagawa | | | | 5,706 | | | | | 74% | | | | | 4,222 | | | ||||||
| Hirata | | | | 2,009 | | | | | 90.9% | | | | | 1,826 | | | Hirata | | | | 2,330 | | | | | 74% | | | | | 1,724 | | | ||||||
| Nakatsuka | | | | 2,009 | | | | | 90.9% | | | | | 1,826 | | | Nakatsuka | | | | 2,330 | | | | | 74% | | | | | 1,724 | | |
| Name and Principal Position | | Year | | Salary ($) | | Stock Awards ($)(1) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($)(2) | | Nonqualified Deferred Compensation Earnings ($)(3) | | All Other Compensation ($) | | Total ($) | | Name and Principal Position | | Year | | Salary ($) | | Stock Awards ($)(1) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation ($)(2) | | Nonqualified Deferred Compensation Earnings ($)(3) | | All Other Compensation ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allan S. Kitagawa Chairman of the Board, President, and Chief Executive Officer | | | | | 2020 | | | | | 851,124 | | | | | 313,161 | | | | | — | | | | | 344,705 | | | | | — | | | | | 132,745 (4) | | | | | 1,641,735 | | | Allan S. Kitagawa Chairman of the Board, President, and Chief Executive Officer | | | | | 2021 | | | | | 851,124 | | | | | 310,626 | | | | | — | | | | | 340,186 | | | | | — | | | | | 175,994 (4) | | | | | 1,677,930 | | | ||||||||||||||
| | | 2019 | | | | | 851,124 | | | | | 308,268 | | | | | — | | | | | 383,006 | | | | | — | | | | | 218,778 | | | | | 1,761,176 | | | | | | 2020 | | | | | 851,124 | | | | | 313,161 | | | | | — | | | | | 344,705 | | | | | — | | | | | 132,745 | | | | | 1,641,735 | | | |||||||||||||||||||
| Vernon Hirata Vice Chairman, Co-Chief Operating Officer, General Counsel, and Corporate Secretary | | | | | 2020 | | | | | 347,578 | | | | | 131,727 | | | | | — | | | | | 140,769 | | | | | 44,941 | | | | | 88,285 (5) | | | | | 753,300 | | | Vernon Hirata Vice Chairman, Co-Chief Operating Officer, General Counsel, and Corporate Secretary | | | | | 2021 | | | | | 354,530 | | | | | 129,380 | | | | | — | | | | | 141,701 | | | | | — | | | | | 92,266 (5) | | | | | 717,877 | | | ||||||||||||||
| | | 2019 | | | | | 347,578 | | | | | 125,890 | | | | | — | | | | | 156,410 | | | | | 67,185 | | | | | 128,324 | | | | | 825,387 | | | | | | 2020 | | | | | 347,578 | | | | | 131,727 | | | | | — | | | | | 140,769 | | | | | 44,941 | | | | | 88,285 | | | | | 753,300 | | | |||||||||||||||||||
| Ralph Y. Nakatsuka Vice Chairman and Co-Chief Operating Officer | | | | | 2020 | | | | | 347,578 | | | | | 131,727 | | | | | — | | | | | 140,769 | | | | | 110,477 | | | | | 90,613 (6) | | | | | 821,164 | | | Ralph Y. Nakatsuka Vice Chairman and Co-Chief Operating Officer | | | | | 2021 | | | | | 354,530 | | | | | 129,380 | | | | | — | | | | | 141,701 | | | | | 89,635 | | | | | 94,584 (6) | | | | | 809,830 | | | ||||||||||||||
| | | 2019 | | | | | 347,578 | | | | | 125,890 | | | | | — | | | | | 156,410 | | | | | 159,935 | | | | | 138,485 | | | | | 928,298 | | | | | | 2020 | | | | | 347,578 | | | | | 131,727 | | | | | — | | | | | 140,769 | | | | | 110,477 | | | | | 90,613 | | | | | 821,164 | | |
| Outstanding Equity Awards At December 31, 2020 | | Outstanding Equity Awards At December 31, 2021 | | ||||||||||||||||||||||||||||||||||||||||||||||||
| | | Stock Awards | | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||||
| Name | | Number of Shares or Units of Stock That Have Not Vested (#)(1) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(3) | | Equity Incentive Plan Awards: Market Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(2) | | Name | | Number of Shares or Units of Stock That Have Not Vested (#)(1) | | Market Value of Shares or Units of Stock That Have Not Vested ($)(2) | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(3) | | Equity Incentive Plan Awards: Market Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(2) | | ||||||||||||||||||||||||||||||||
| Allan S. Kitagawa | | | | 12,893 | | | | | 309,818 | | | | | 18,172 | | | | | 436,673 | | | Allan S. Kitagawa | | | | 12,654 | | | | | 319,513 | | | | | 18,922 | | | | | 477,780 | | | ||||||||
| Vernon Hirata | | | | 5,337 | | | | | 128,248 | | | | | 7,451 | | | | | 179,047 | | | Vernon Hirata | | | | 5,277 | | | | | 133,244 | | | | | 7,865 | | | | | 198,591 | | | ||||||||
| Ralph Y. Nakatsuka | | | | 5,337 | | | | | 128,248 | | | | | 7,451 | | | | | 179,047 | | | Ralph Y. Nakatsuka | | | | 5,277 | | | | | 133,244 | | | | | 7,865 | | | | | 198,591 | | |
| | | | FOR | | | WITHHOLD | |
| Kirk W. Caldwell | | | ☐ | | | ☐ | |
| Jennifer Isobe | | | ☐ | | | ☐ | |
| Francis E. Tanaka | | | ☐ | | | ☐ | |
| FOR | | | AGAINST | | | ABSTAIN | |
| ☐ | | | ☐ | | | ☐ | |
| FOR | | | AGAINST | | | ABSTAIN | |
| ☐ | | | ☐ | | | ☐ | |
| Dated: | | | SIGNATURE OF STOCKHOLDER | |
| | | | SIGNATURE OF COHOLDER (IF ANY) | |