DEF 14A of OP Bancorp, Apr 16, 2026

DEF 14A of OP Bancorp

Filed Apr 16, 2026 · FY20250001722010-26-000006

Open on EDGAR

  1. TABLE OF CONTENTS

    | Director Compensation | 22 | | PROPOSAL 1—ELECTION OF DIRECTORS | 24 | | PROPOSAL 2—ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION | 28 | | PROPOSAL 3—RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 27 | | OTHER BUSINESS | 29 | | DELINQUENT SECTION 16(A) REPORTS | 29 | | SHAREHOLDER PROPOSALS | 29 |

  2. Board of Directors

    Board of Directors Board Independence In 2025, four of the Board’s seven directors were independent directors and are director nominees, as defined under applicable Nasdaq Stock Market rules and regulations, as follows: Hyung J. Kim Sunny Kwon Yong Sin Shin Myung Shin Sohn Board and Committee Meeting Attendance During the fiscal year ended December 31, 2025, the Board of Directors held twelve meetings. Each director serving during 2025 attended all regularly scheduled meetings of the Board, and all meetings of standing Board committees on which he or she served. Director Attendance at Annual Meetings of Shareholders The Board believes that director attendance at the Annual Meeting of Shareholders helps demonstrate support for the Company and provides shareholders an opportunity to communicate directly with directors. The Company’s policy is to encourage, but not require, director attendance by each director at the Annual Meeting. All of the directors of the Company are encouraged to attend the Annual Meeting. All directors attended the 2025 Annual Meeting. Communications with the Board Shareholders may communicate with the Board of Directors, including any committee of the Board or any individual directors, by writing to the Corporate Secretary, OP Bancorp, 1000 Wilshire Boulevard, Suite 500, Los Angeles, CA 90017, or by e-mail to jaehyun.park@myopenbank.com. To help confirm shareholder status and facilitate a response, communications should include the information set forth below: •if the person submitting the communication is a security holder, a statement of the type and amount of the Company’s securities held; •if the person submitting the communication is not a security holder and is submitting the communication to the non-management directors as an interested party, the nature of the person’s interest in the Company; •any special interest of the person in the subject matter of the communication, meaning an interest other than in the person’s capacity as a shareholder of the Company; and •the address, telephone number, and e-mail address (if any) of the person submitting the communication. Upon receipt, each communication is recorded in an intake log maintained for this purpose, including the name of the person submitting the communication, the date and time of receipt, the required identifying information described above, and a brief description of the subject matter. The intake log also reflects the action taken with respect to the communication. The Corporate Secretary (or his designee) reviews communications to determine whether they satisfy the Company’s procedural requirements and whether the substance of the communication is appropriate for delivery to the Board of Directors under the Company’s procedures for communications with directors. Communications determined to be appropriate for delivery to directors are compiled and delivered to the directors periodically. The Company’s procedures for handling of security holder communications were approved by a majority of the Company’s independent directors. Nomination of Directors The Company has a Nomination & Governance Committee (“NGC”). Among other responsibilities, the NGC identifies, evaluates, and recommends candidates for election to the Company’s Board of Directors. The NGC’s minimum qualifications for director candidates include high ethical character and demonstrated personal and professional integrity, consistent with the Company’s values. In evaluating candidates, the NGC may consider some or all of the following criteria: •commitment to ethical conduct and personal and professional integrity; as evidenced through business, civic, and professional activities and associations; •objective perspective and mature judgment developed through business experiences and/or educational endeavors; •ability to work effectively with other directors and management to further the Company’s goals and enhance shareholder value; •the ability and willingness to devote sufficient time to fulfill the duties and responsibilities of a director; •experience at policy-making levels in organizations and in areas relevant to the Company’s business and activities; •skills and experience of the candidate in relation to the skills and experience already presented on the Board; •broad experience in business, finance or administration, including familiarity with national and international business matters; •familiarity with the commercial banking industry; •prominence and reputation, and ability to enhance the Company’s reputation; •activities and associations that could present a legal impediment, conflict of interest, or other consideration that might hinder service on the Board; •in considering Board diversity (in all aspects of that term), differences of viewpoint, business and professional experience, education, skills, as well as race, gender and national origin; and •impact of any material change in a director’s qualifications, including retirement or a change in principal occupation, position, or responsibilities, as it relates to continued service on the Board. There is no particular weighting among the foregoing factors, nor is any one factor or any combination of factors (other than integrity and ethical conduct) dispositive of a candidate’s qualifications. The NGC does not maintain a separate policy for considering director candidates recommended by shareholders. Instead, the NGC considers any candidate who meets the requirements for shareholder nominations set forth in the Company’s Bylaws and applicable laws and regulations in the same manner as any other candidate. The NGC believes that requiring shareholder recommendations to comply with the Company’s Bylaws helps ensure the NGC receives the minimum information necessary to begin an appropriate evaluation of the proposed nominee. Section 2.4 of the Company’s Bylaws provides that shareholder must give advance written notice to the Company of an intention to nominate a director at a meeting of shareholders. Notice must be delivered to the Chief Executive Officer or President at the Company’s principal executive offices not more than 60 days prior to the meeting, and not more than 10 days after the date notice of the meeting is sent to shareholders; provided, however, that if shareholders are given only 10 days’ notice of the meeting, notice of intention to nominate must be received by the Chief Executive Officer or President no later than the time specified in the notice of meeting for the opening of the meeting. To the extent known to the notifying shareholder, such notice must include: (i) the name and address of each proposed nominee; (ii) the principal occupation of each proposed nominee; (iii) the number of shares of the Company’s voting stock owned by each proposed nominee; (iv) the name and residence address of the notifying shareholder; and (v) the number of shares of the Company’s voting stock owned by the notifying shareholder. Shareholders considering submitting a nomination notice should take careful note that the summary of the Bylaws requirements presented above is not complete, Any shareholder considering a nomination should carefully review the applicable requirements, rather than the above summary, and should comply with the applicable standards. Nominations not made in accordance with the Bylaws will be disregarded by the chairperson of the meeting, and the inspectors of election will disregard all votes cast for each such nominee. Diversity of the Board of Directors

  3. Board of Directors

    In considering the Board diversity (in all aspects of that term) in accordance with its charter, the NGC takes into account various factors and perspectives, including differences of viewpoint, high-quality business and professional experience, education, skills and other individual qualities and attributes that contribute to Board heterogeneity. The NGC does not assign specific weights to particular criteria, and no single criterion is necessarily applicable to every prospective nominees. The NGC seeks candidates with leadership experience in a variety of contexts and industries and believes that this broad approach to diversity helps identify candidates who are best qualified to serve as directors. The NGC assesses the effectiveness of this approach as part of its annual review of its charter. Term of Office Directors are elected for one-year terms and serve until their successors are elected. The Board does not maintain director term limits, preferring instead to rely upon the evaluation procedures described herein to help ensure that each director continues to serve in best interests of the Company and its shareholders. Board Committees The Board may delegate certain responsibilities to committees composed of directors. The standing committees of the Board meet at regular intervals to address their particular areas of responsibility. The Board’s standing committees include: (i) Audit Committee, (ii) Human Resource & Compensation Committee (“HRCC”), and (iii) NGC. Each committees is composed solely of independent directors, as defined under applicable Nasdaq Stock Market rules and regulations. The chair of each committee determines the agenda, frequency, and length of the committee meetings and receives input from committee members. Executive Sessions Independent directors meet in executive session throughout the year, including meeting at least annually to consider and act upon the HRCC’s recommendations regarding the compensation and performance of the Chief Executive Officer. Evaluation of Board Performance The Board conducts an annual self-assessment in accordance with an established evaluation process, which includes an evaluation of the performance of the Board’s committees. The NGC oversees this process and reviews the results with the full Board. Management Performance and Compensation The HRCC reviews and approves the Chief Executive Officer’s annual evaluation of the Company’s top management team. The Board, primarily through the HRCC, also evaluates compensation plans for senior management and other employees to help ensure they are appropriate, competitive and aligned with the Company’s objectives and performance.

  4. INFORMATION ABOUT DIRECTORS AND EXECUTIVE OFFICERS

    INFORMATION ABOUT DIRECTORS AND EXECUTIVE OFFICERS

  5. Summary Compensation Table

    Summary Compensation Table The following table sets forth information regarding the compensation paid, awarded to, or earned for our fiscal years ended December 31, 2025 and 2024 for each of our named executive officers.

  6. Summary Compensation Table

    | Name and Principal Position | Year | Salary ($) | Bonus ($) (1)(2) | Stock Awards ($) (3) | Non-Equity Incentive Plan Compensation ($) (4) | Other Compensation ($) (6) | Total Compensation ($) | | Sang K. Oh | 2025 | $341,894 | — | $400,007 | $398,000 | $25,022 | $1,164,923 | | President and Chief Executive Officer as of December 31, 2025 (5) | 2024 | 287,390 | — | — | 55,900 | 19,086 | 362,376 | | Min J. Kim | 2025 | 301,449 | 500,000 | — | — | 35,640 | 837,089 | | President and Chief Executive Officer as of June 30, 2025 (5) | 2024 | 576,300 | — | — | 315,900 | 23,100 | 915,300 | | Christine Y. Oh | 2025 | 342,971 | — | 4,998 | 131,951 | 22,978 | 502,898 | | Executive Vice President and Chief Operating Officer | 2024 | 337,461 | — | — | 65,700 | 22,648 | 425,809 | | Jimmy M. Bang | 2025 | 237,844 | — | 100,001 | 100,200 | 13,422 | 451,467 | | Executive Vice President and Chief Lending Officer | 2024 | 198,962 | 1,000 | — | 24,300 | 12,811 | 237,073 |

  7. Summary Compensation Table

    (1)Represents a one-time discretionary bonus paid to Ms. Kim upon her retirement, which was approved by the HRCC in recognition of her service to the Company. (2)Represents a loan referral fee paid to Mr. Bang, earned prior to his appointment as an executive officer. (3)On July 1, 2025, the Company granted 29,326 RSUs to Mr. Oh. The grant date fair value was calculated based on the number of units granted and the closing price of the Company's common stock on the grant date, which was $13.64. On November 20, 2025, the Company granted 392 RSUs to Ms. Oh. The grant date fair value was calculated based on the number of units granted and the closing price of the Company’s common stock on the grant date, which was $12.75. On March 31, 2025, the Company granted 5,100 RSUs to Mr. Bang. The grant date fair value was calculated based on the number of units granted and the closing price of the Company’s common stock on the grant date, which was $12.02. On March 3, 2025, the Company granted 2,970 RSUs to Mr. Bang. The grant date fair value was calculated based on the number of units granted and the closing price of the Company’s common stock on the grant date, which was $13.03. (4)Cash bonuses awarded under the Company's management incentive plan, described below. Amounts for 2025 were determined and paid in March 2026. (5)Mr. Oh succeeded Ms. Kim as the Company’s Chief Executive Officer as of July 1, 2025. (6)Other Compensation for the named executive officers for our fiscal year ended December 31, 2025 includes the following:

  8. Summary Compensation Table

    | Name | Perquisites (1) | Company 401(k) Match (2) | Paid Time-Off Payout (3) | Total “Other Compensation” | | Sang K. Oh | $5,270 | $19,752 | $— | $25,022 | | Min J. Kim | 5,323 | 18,087 | 12,230 | 35,640 | | Christine Y. Oh | 2,400 | 20,578 | — | 22,978 | | Jimmy M. Bang | 2,239 | 11,183 | — | 13,422 |

  9. Summary Compensation Table

    (1)Represents electronics allowance and fees paid for club memberships that are used for the exclusive benefit of the Company. (2)Reflects Company matching contribution under the 401(k) Plan. (3)Reflects the cash payment made to Ms. Kim for accrued and unused paid time-off, which was paid in accordance with Company policy upon her retirement.

  10. Pay Versus Performance

    Pay Versus Performance The following table shows pay both as reported in the Summary Compensation Table (“SCT Total”) for the applicable fiscal year and as Compensation Actually Paid (“CAP”) for CEO and as an average of all of “Other NEOs” for the applicable fiscal year. Both SCT Total pay and CAP are calculated in accordance with Regulation S-K, and differ from the way the Company makes pay decisions.

  11. Pay Versus Performance

    | | 2025 | 2024 | 2023 | | SCT Total for CEO (Mr. Oh) (1) | $1,164,923 | $— | $— | | SCT Total for CEO (Ms. Kim) (1)(2) | 837,089 | 915,300 | 1,147,263 | | CAP to CEO (Mr. Oh) (1) | 1,131,749 | — | — | | CAP to CEO (Ms. Kim) (1)(2) | 837,089 | 883,189 | 1,081,974 | | Average SCT Total for Other NEOs (1)(3) | 477,183 | 408,703 | 473,911 | | Average CAP to Other NEOs (1)(3) | 450,094 | 486,773 | 472,546 | | Value of Initial Fixed $100 Investment Based On Total Shareholder Return (“TSR”) | 89 | 144 | 98 | | Net Income ($ in thousands) | 25,635 | 21,069 | 23,918 | | ROA | 1.01% | 0.92% | 1.13% | | ROE | 11.91% | 10.68% | 13.05% | | Efficiency Ratio | 58.91% | 61.19% | 57.59% | | Target ROA | 1.00% | 1.01% | 1.17% | | Target ROE | 11.72% | 11.30% | 13.52% | | Target Efficiency Ratio | 58.63% | 57.35% | 56.64% |

  12. Pay Versus Performance

    (1) Mr. Oh succeeded Ms. Kim as the Company’s Chief Executive Officer as of July 1, 2025. (2) Includes a one-time discretionary bonus of $500 thousand paid to Ms. Kim upon her retirement. (3) For 2025, Other NEOs were Christine Y. Oh and Jimmy M. Bang. For 2023 and 2024, Other NEOs were Christine Y. Oh and Sang K. Oh. The following tables show the deductions from and additions to SCT Total Compensation and Average SCT Total Compensation that were made in order to calculate CAP as reported in the above table. The fair value of stock option awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.

  13. Pay Versus Performance

    | Deductions and Additions to SCT Total for CEO (Mr. Oh) | | | | | | 2025 | 2024 | 2023 | | SCT total for CEO | $1,164,923 | $— | $— | | Deduct value of equity awards reported in SCT | (400,007) | — | — | | Add year end fair value of unvested equity awards granted during the fiscal year | 414,083 | — | — | | Add (deduct) year over year change in fair value of equity awards granted in prior years that were outstanding and unvested as of fiscal year-end date | (15,210) | — | — | | Add (deduct) year over year change in fair value of equity awards granted in prior years that vested during the fiscal year | (32,040) | — | — | | CAP to CEO | $1,131,749 | $— | $— | | Deductions and Additions to SCT Total for CEO (Ms. Kim) | | | | | | 2025 | 2024 | 2023 | | SCT total for CEO (1) | $837,089 | $915,300 | $1,147,263 | | Add (deduct) year over year change in fair value of equity awards granted in prior years that were outstanding and unvested as of fiscal year-end date | — | — | (4,496) | | Add (deduct) year over year change in fair value of equity awards granted in prior years that vested during the fiscal year | — | (32,111) | (60,793) | | CAP to CEO | $837,089 | $883,189 | $1,081,974 |

  14. Pay Versus Performance

    (1) Includes a one-time discretionary bonus of $500 thousand paid to Ms. Kim upon her retirement.

  15. Pay Versus Performance

    | Average Deductions and Additions to SCT Total for Other NEOs | | | | | | 2025 | 2024 | 2023 | | SCT total for other NEOs | $477,183 | $408,703 | $473,911 | | Deduct value of equity awards reported in SCT | (50,001) | — | (40,500) | | Add year end fair value of unvested equity awards granted during the fiscal year | 56,975 | — | 54,750 | | Add (deduct) year over year change in fair value of equity awards granted in prior years that were outstanding and unvested as of fiscal year-end date | (13,343) | 87,480 | (2,835) | | Add (deduct) year over year change in fair value of equity awards granted in prior years that vested during the fiscal year | (20,720) | (9,410) | (12,780) | | Average CAP to other NEOs | $450,094 | $486,773 | $472,546 |

  16. Discussions on Pay Versus Performance

    Discussions on Pay Versus Performance Equity awards reported in SCT are based on the grant date fair values of equity awards granted during the year whereas equity awards reflected in CAP are based on the year-end fair values of unvested equity awards at year end and the vest date fair values of equity awards vested during the year. CAP to the Company’s PEO, Mr. Oh, for 2025 was derived from total compensation reported in the SCT, with adjustments primarily related to equity awards. These adjustments included deducting the grant‑date fair value of equity awards reported in the SCT, adding the fair value of unvested equity awards granted during the year, and reflecting changes in the fair value of previously granted equity awards that vested during the year or remained outstanding and unvested at year‑end. As a result of these adjustments, CAP to the PEO for 2025 was $1,131,749. CAP to the Company’s PEO, Ms. Kim, was based on total compensation reported in the SCT, with adjustments related to changes in the fair value of equity awards from prior years. For 2025, Ms. Kim had no outstanding unvested equity awards and no awards that vested during the year; therefore no adjustments were required, resulting in CAP equal to SCT total compensation of $837,089. Ms. Kim’s 2025 SCT total includes a $500,000 retirement bonus paid in connection with her retirement on June 30, 2025. This contributed to her higher reported compensation for 2025 even though she served as PEO for only part of the year. For 2024 and 2023, CAP reflects year‑over‑year changes in the fair value of equity awards granted in prior years that vested during the applicable fiscal year, resulting in CAP of $883,189 and $1,081,974, respectively. Average CAP to the other NEOs reflects SCT compensation adjusted for the valuation and vesting of equity awards, including changes in the fair value of awards granted in prior years. Average CAP to the other NEOs was $450,094 in 2025, $486,773 in 2024, and $472,546 in 2023.

  17. Outstanding Equity Awards

    Outstanding Equity Awards The following table provides information for each of our named executive officers regarding outstanding stock awards held by the officers as of December 31, 2025:

  18. Outstanding Equity 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 ($) (1) | | Sang K. Oh (2) | 38,326 | $541,163 | | Christine Y. Oh (3) | 4,000 | 56,480 | | Jimmy M. Bang (4) | 11,790 | 166,475 |

  19. Outstanding Equity Awards

    (1)The market value of unvested RSUs is calculated by multiplying the number of unvested units by the closing price of our common stock as of December 31, 2025, which was $14.12. (2)Represents 38,326 unvested RSUs, consisting of 9,000 RSUs that vest in equal one-fifth installments annually beginning on the grant date of June 24, 2021, and 29,326 RSUs that vest in equal one-fifth installments annually beginning on the grant date of July 1, 2025, subject to continued service. (3)Represents 4,000 unvested RSUs that vest in one-third installments annually beginning on the grant date of May 25, 2023, subject to continued service. (4)Represents 11,790 unvested RSUs, consisting of 3,720 RSUs that vest in one-fifth installments annually beginning on the grant date of February 24, 2022, 2,970 RSUs that vest in one-third installments annually beginning on the third anniversary of the grant date of March 5, 2025, and 5,100 RSUs that vest in one-fifth installments annually beginning on the grant date of March 31, 2025, subject to continued service.

  20. Director Compensation

    Director Compensation The following table presents the compensation paid, awarded, or earned by each of our directors during 2025, other than Sang K. Oh, whose compensation is reported in the “Summary Compensation Table.” Mr. Oh does not receive additional compensation for his service as a director of the Company or the Bank:

  21. Director Compensation

    | Name | Fees Earned or Paid in Cash ($) | Stock Awards ($)(1)(4) | Total | | Min J. Kim (2) | $42,000 | $42,003 | $84,003 | | Hyung J. Kim | 60,000 | 30,004 | 90,004 | | Sunny Kwon | 60,000 | 30,004 | 90,004 | | Yong Sin Shin | 60,000 | 30,004 | 90,004 | | Myung Shin Sohn | 60,000 | 30,004 | 90,004 | | Ki Won Yoon | 30,000 | 30,004 | 60,004 | | Brian Choi (Former Director) (3) | 77,000 | — | 77,000 | | Soo Hun Jung, M.D. (Former Director) | 55,000 | — | 55,000 |

  22. Director Compensation

    (1)On June 26, 2025, the Company granted an aggregate of 15,411 shares of RSUs to directors (excluding Mr. Oh). The grant date fair value was calculated based on the number of shares awarded and the closing price of the Company's common stock on the grant date, which was $12.46. (2)Ms. Kim’s director compensation for 2025 was comparatively lower as she served as an employee director through June 30, 2025. (3)Excludes reimbursement for travel and other out-of-pocket expenses, as well as stock-based compensation expense related to equity awards granted in prior years under our equity plans. (4)The following table presents the number of shares underlying unvested stock awards held by each of our directors as of December 31, 2025.

  23. Director Compensation

    | Name | Number of Shares Underlying Unvested Stock Awards | | Min J. Kim | 3,371 | | Hyung J. Kim | 2,408 | | Sunny Kwon | 2,408 | | Yong Sin Shin | 2,408 | | Myung Shin Sohn | 2,408 | | Ki Won Yoon | 2,408 |

  24. Director Compensation

    The Company pays fees to its non-officer directors for attending Board and committee meetings and for performing other services related to the operations of the Company or the Bank. The Chairperson of the Board receives $7,000 per month, and all other directors receive $5,000 per month. Directors are also reimbursed for reasonable out-of-pocket expenses in connection with their duties, including attendance at Board and committee meetings.

  25. PROPOSAL 1 — ELECTION OF DIRECTORS

    PROPOSAL 1 — ELECTION OF DIRECTORS The Company’s Bylaws provide that the Board of Directors shall consist of not fewer than seven nor more than thirteen directors. The number of directors is currently fixed at seven. Directors are elected annually to serve one-year terms expiring at the next annual meeting of shareholders. The Bylaws also set forth procedures for the nomination and election of directors. Directors are elected on a plurality basis: at the Annual Meeting the seven candidates receiving the largest number of votes will be elected as directors. Abstentions, “withhold” votes, broker non-votes and cumulative voting will therefore not affect the outcome of the election. For additional information, see “Corporate Governance and Board Matters — Board of Directors — Nomination of Directors.” Nominations not made in accordance with the Bylaws will be disregarded, and the inspector of election will disregard any votes cast for such nominees. Upon the recommendation of the Nomination & Governance Committee (“NGC”), the Board has nominated the seven individuals listed below for election to one-year terms expiring at the 2027 Annual Meeting. The Board has determined that Messrs. Kim and Sohn and Mses. Kwon and Shin are independent within the meaning of applicable Nasdaq Stock Market rules. If any nominee becomes unable or unwilling to serve, the proxies will be voted for such substitute nominee or nominees as designated by the Board. The Board has no present knowledge that any nominee will be unable or unwilling to serve. The following information is provided with respect to each nominee. Each nominee also serve as a director of Open Bank. The age shown for each director is as of April 16, 2026. Hyung J. Kim. Mr. Kim, age 63, has served as a director since 2023. He is the founder and Chief Executive Officer of KLK Capital Management LLC, a California-based investment firm. Prior to establishing KLK Capital Management, he served as a Vice President at Merrill Lynch. He holds a Bachelor of Arts in Chemistry from Binghamton University and is a Certified Financial Planner, holding Financial Industry Regulatory Authority (FINRA) Series 3, 7, and 66 licenses. Mr. Kim contributes to the Board his experience in finance and investment management, as well as insight into economic trends and market conditions. Min J. Kim. Ms. Kim, age 66, served as President and Chief Executive Officer of the Company and the Bank from April 2010 until her retirement effective July 2025, and has served as a director since April 2010. Upon her retirement as Chief Executive Officer, Ms. Kim became Chairperson of the Board. Prior to joining the Bank, she served as President and Chief Executive Officer of Nara Bancorp and Nara Bank (now Hope Bancorp, Inc. and Bank of Hope) beginning in 2006. From 1996 to 2006, Ms. Kim held various executive positions at Nara Bancorp and Nara Bank, including Executive Vice President and Chief Operating Officer, Executive Vice President and Chief Credit Officer, and Senior Vice President and Chief Credit Administrator. Prior to joining Nara Bank, Ms. Kim served in various management roles at Hanmi Bank from 1985 to 1995. Ms. Kim holds a Bachelor of Science in Finance from the University of Southern California. She provides the Board with extensive knowledge of the Company’s operations, markets, and strategic direction. Sunny Kwon. Ms. Kwon, age 69, has served as a director since 2023. She is President of UNI & Good Friend Insurance, an independent retail insurance brokerage serving the Greater Los Angeles area. She has been active in the Korean American Insurance and Financial Professional Association since 1985 and has served in various leadership roles, including as Board Chair. Ms. Kwon also has served on the board of the Korean American Chamber of Commerce of Orange County since 2023 and has been a member of the Advisory Council of United Valley Agencies since 2022. Sang K. Oh. Mr. Oh, age 54, has served as President and Chief Executive Officer of the Company and the Bank since July 2025. Prior to assuming his current role, he was appointed Chief Executive Officer (In Transition) in August 2024 and served as Executive Vice President and Chief Credit Officer beginning in October 2020. Prior to joining the Bank, he served as Senior Vice President and Senior Credit Administrator at Bank of Hope since 2007, and previously held various senior lending positions there beginning in 1997. He holds a Bachelor of Arts in Business Economics with a Minor in Accounting from the University of California, Los Angeles, and is a graduate of Pacific Coast Banking School. Yong Sin Shin. Ms. Shin, age 66, has served as a director since the founding of the Bank in 2005. She is the founder and President of CJS Groups Inc (DBA Bicici & Coty Fashion), an apparel manufacturing and wholesaler business based in Los Angeles. Prior to founding her company, Ms. Shin worked as a fashion designer and co-manager of Coty Fashion in Sao Paulo, Brazil from 1985 to 1994. Ms. Shin holds a Bachelor of Science in Dietary Nutrition from the University of Sao Paulo. Ms. Shin contributes to the Board her entrepreneurial experience and knowledge of the local business community, and as an active member of the Korean American Chamber of Commerce in Los Angeles, provides additional business and cultural insights from the local community. Myung Shin Sohn. Mr. Sohn, age 52, has served as a director since 2024. He is the Managing Partner of Dow & Sohn CPAs, Professional Corporation, providing accounting, tax, and advisory services to domestic and international clients. Mr. Sohn has extensive expertise in accounting and auditing matters, including Generally Accepted Accounting Principles (GAAP), Generally Accepted Audit Standards (GAAS), international tax compliance, and Korean International Financial Reporting Standards (K-IFRS). He currently serves as Chief Financial Officer of the Korea Franchise Association USA and the Korean American United Foundation. He previously served in leadership roles with professional and nonprofit organizations, including as a Publication and Social Networking Service Officer at the Korean-American CPA Society of Southern California from 2018 to 2023. Mr. Sohn holds a Master of Business Administration in Accountancy from California State University Fullerton. Ki Won Yoon. Ms. Yoon, age 65, has served as a director since June 2025 . Prior to joining the Board, she served as Executive Vice President and Chief Lending Officer beginning October 2013. Before joining Open Bank, she served as District Manager at BBCN Bank (now Bank of Hope), which she joined in 1999, where she managed a significant loan portfolio. Ms. Yoon holds a Bachelor of Arts in Food & Nutrition from Sook Myung Women’s University and is a graduate of Pacific Coast Banking School.