TriCo Bancshares to be acquired by First Hawaiian in all-stock merger at 2.095x exchange ratio

Filed July 15, 2026 · Period ending July 12, 2026 · ~1 min read

Key Changes

• high

  TriCo shareholders will receive 2.095 shares of First Hawaiian common stock for each TriCo share in an all-stock transaction with no collar or adjustment mechanism.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  CEO Richard P. Smith granted $2.5M transaction bonus payable at merger closing in cash, restricted stock units, or combination, contingent on continued employment through closing.

  Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR →
• medium

  Either party may owe $80M termination fee if merger agreement is terminated under specified circumstances, providing mutual downside protection.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →