FIRST HAWAIIAN, INC.

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EXECUTIVE COMPENSATION TABLES

Summary Compensation Table

The following table presents information with respect to our NEOs for the fiscal years ended December 31, 2023, 2022 and 2021.

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(1)

The amounts in this column represent annual incentive cash awards earned under the Bonus Plan.

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(2)

The amounts in this column for fiscal years 2023, 2022 and 2021 represent the grant date fair value, as determined in accordance with FASB ASC Topic 718, of (i) during fiscal year 2023, performance share units granted pursuant to the LTIP for the 2023-2025 cycle (the “2023-2025 LTIP Awards”) and restricted stock units granted pursuant to the Omnibus Plan, (ii) during fiscal year 2022, performance share units granted pursuant to the LTIP for the 2022-2024 cycle (the “2022-2024 LTIP Awards”) and restricted stock units granted pursuant to the Omnibus Plan and (iii) during fiscal year 2021, performance share units granted pursuant to the LTIP for the 2021-2023 cycle (the “2021-2023 LTIP Awards”) and restricted stock units granted pursuant to the Omnibus Plan. For further information regarding grant date fair value calculations, see Note 20 to the Consolidated Financial Statements included in First Hawaiian’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. The LTIP Award amounts for each year reported are based on assumed performance achievement at 100%, which is the target level of performance share units that may be earned. The amounts for the 2023-2025 LTIP Awards based on assumed performance achievement of 200%, the highest level of performance share unit awards that may be earned, are $2,759,962, $803,951, $839,970, $359,972, $359,972,$509,978 and $390,005 for each of Messrs. Harrison, Moses, Dods, Arizumi, Char, Mesick and Mizumoto, respectively. The amounts for the 2022-2024 LTIP Awards based on assumed performance achievement of 200%, the highest level of performance share unit awards that may be earned, are $2,399,994, $780,018, $329,983, $599,970 and $389,980 for each of Messrs. Harrison, Dods, Arizumi, Mesick and Mizumoto, respectively. The amounts for the 2021-2023 LTIP Awards based on assumed performance achievement of 200%, the highest level of performance share award amounts that may be earned, are $2,399,959, $367,116, $667,089 and $433,584 for each of Messrs. Harrison, Arizumi, Mesick and Mizumoto, respectively.

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(3)

The amounts in this column reflect the actuarial increase in the present value of benefits under the SERP. Mr. Harrison is the only NEO who participates in the SERP, and none of our NEOs received above-market earnings on their non-qualified deferred compensation accounts. The change in pension value represents the present value of future retirement benefits and does not represent any cash benefit to Mr. Harrison. The SERP was frozen and all accruals of benefits, including service accruals, ceased effective July 1, 2019. Therefore, any subsequent changes in the actuarial present value of an NEO’s accumulated benefit under the SERP would likely be attributable, primarily, to variations in the discount rate or modifications to actuarial assumptions. Mr. Harrison was not paid any compensation in respect of the SERP in 2023, 2022 or 2021, and will not be paid any amounts until his retirement or termination of employment with First Hawaiian. See “Compensation Discussion and Analysis—Other Benefits and Retirement Plans” and “—Change in CEO Pension Value in the Summary Compensation Table” for more information.

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(4)

The items comprising “All Other Compensation” for 2023 are:

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(a)

“Perquisites and Other Personal Benefits” include: for each NEO, Company provided parking, automobile allowance and related expenses, and meals; for Messrs. Harrison, Moses, Dods, Arizumi, Char and Mizumoto, club dues and fees; for Messrs. Harrison and Char, spouse travel expenses; and for Mr. Mizumoto, executive physical and COBRA benefits.

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(b)

Reflects Company contributions for Mr. Harrison under the 401(k) Plan ($16,500), the Future Plan ($8,250) and the First Hawaiian Bank DCP ($175,728); for Mr. Moses under the First Hawaiian Bank DCP ($35,648); for Mr. Dods under the 401(k) Plan ($16,500), the Future Plan ($8,250) and the First Hawaiian, Inc. DCP ($84,453); for Mr. Arizumi under the 401(k) Plan ($16,500), the Future Plan ($8,250) and the First Hawaiian, Inc. DCP ($75,150); for Mr. Char under the 401(k) Plan ($16,500), the Future Plan ($8,250) and the First Hawaiian, Inc. DCP ($60,220); for Mr. Mesick under the 401(k) Plan ($7,619), the Future Plan ($8,250) and the First Hawaiian Bank DCP ($55,862) and for Mr. Mizumoto under the 401(k) Plan ($13,818), the Future Plan ($8,250) and the First Hawaiian Bank DCP ($53,757) and, as discussed under “—Compensation Discussion and Analysis—Other Benefits and Retirement Plans” above.

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(c)

Reflects insurance premiums paid for the benefit of all of the NEOs in a group variable universal life insurance policy, an individual disability insurance policy and a group life insurance plan.

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(d)

Reflects, for Messrs. Mesick and Mizumoto, payments and benefits received upon a qualifying termination under the Executive Severance Plan, as well as consulting fees of $11,250 and $5,013, respectively. For information with respect to amounts paid to Messrs. Mizumoto and Mesick, see“—Compensation Discussion and Analysis—​Payments to Mr. Mizumoto in Connection with Termination of Employment” and see “—Compensation Discussion and Analysis—Payments to Mr. Mesick in Connection with Termination of Employment.”

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(5)

Messrs. Mesick’s and Mizumoto’s employment with the Company terminated effective July 1, 2023 and October 1, 2023, respectively.

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