Territorial Bancorp Executive Compensation (FY23)
TBNK · Executive and director compensation, fiscal 2022 to 2023
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Data as of September 29, 2026Latest filing (DEF 14A): April 16, 2024
8 filings cited on this page
Method: intel.velarion.ai/methodology
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89 figures on this page: 82 cited to the filing that reported them, 7 calculated from figures it prints. See the citations
More on Territorial Bancorp
Five data products on this company. Each one is requested through the developer setup page.
- Peer Disclosure Audit$5The comparison companies this board named, each one tied to the filing that lists it.How to get Peer Disclosure Audit
- Governance Provisions PullfreeThe governance provisions as the proxy states them: board leadership, committee membership, and shareholder rights.How to get Governance Provisions Pull
- Say-on-Pay Risk Signal$9A risk band for the next say-on-pay vote, with the support history and the peer comparison behind it.How to get Say-on-Pay Risk Signal
- NEO Comp Report$24Every named executive officer’s pay by element and year, with the citation behind each figure.How to get NEO Comp Report
- Board Comp Report$24What each non-employee director was paid, the standing fee schedule, and the equity each one holds at year end.How to get Board Comp Report
What changed from fiscal 2022 to fiscal 2023
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Allan Kitagawa: $1,599,583 → $1,320,508 (17.4% lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is Territorial Bancorp's chief executive and what were they paid?
Allan Kitagawa was paid $1,320,508 in total compensation as Chairman of the Board, President, and Chief Executive Officer for fiscal 2023. Compared with the $1,599,583 reported for fiscal 2022, Kitagawa's total was 17.4% lower.
What was Territorial Bancorp's say-on-pay result?
The say-on-pay proposal drew 88.6% of votes cast for or against in favor at the meeting held May 18, 2023 for fiscal 2022.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Allan Kitagawa Chairman of the Board, President, and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Vernon Hirata Vice Chairman, Co-Chief Operating Officer, General Counsel, and Corporate Secretary | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Ralph Nakatsuka Vice Chairman and Co-Chief Operating Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Allan Kitagawa Chairman of the Board, President, and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Vernon Hirata Vice Chairman, Co-Chief Operating Officer, General Counsel, and Corporate Secretary | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Ralph Nakatsuka Vice Chairman and Co-Chief Operating Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2023
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Allan Kitagawa | RSU | — | — | — | ◇ | — | — | — |
| Ralph Nakatsuka | RSU | — | — | — | ◇ | — | — | — |
| Vernon Hirata | RSU | — | — | — | ◇ | — | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2023 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Ralph Nakatsuka | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| Vernon Hirata | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| Allan Kitagawa | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2023
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Howard Y. Ikeda Lead independent director | ◇ | — | — | — | — | — | ◇ |
Kirk W. Caldwell | ◇ | — | — | — | — | — | ◇ |
Jennifer Isobe | ◇ | — | — | — | — | — | ◇ |
Jan M. Sam | ◇ | — | — | — | — | — | ◇ |
Francis E. Tanaka | ◇ | — | — | — | — | — | ◇ |
John M. Ohama | ◇ | — | — | — | — | — | ◇ |
Allan S. Kitagawa served on the board in fiscal 2023 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Total board retainer | ◇ |
| Audit committee chair | ◇ |
| Compensation committee chair | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2022 | May 18, 2023 | = | ◇ | ◇ | ◇ |
| 2020 | May 13, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | June 11, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 16, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 17, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | May 25, 2017 | = | ◇ | ◇ | ◇ |
| 2015 | May 26, 2016 | = | ◇ | ◇ | ◇ |
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What this page does not include
Everything above is a fact Territorial Bancorp disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
89 figures on this page: 82 cited to the filing that reported them, 7 calculated from figures it prints.
82 cited to the filing
7 calculated from the filing
Documents cited
- 0001104659-24-047638
- 0001104659-23-062315Proposal 3: The approval of an advisory (non-binding) resolution to approve the Company’s executive compensation as described in the proxy statement.
- 0001104659-21-066636Proposal 3: The approval of an advisory (non-binding) resolution to approve the Company’s executive compensation as described in the proxy statement.
- 0001104659-20-073294Proposal 3: The approval of an advisory (non-binding) resolution to approve the Company’s executive compensation as described in the proxy statement.
- 0001104659-19-030206Proposal 3: The approval of an advisory (non-binding) resolution to approve the Company’s executive compensation as described in the proxy statement.
- 0001104659-18-034410Proposal 3: The approval of an advisory (non-binding) resolution to approve the Company’s executive compensation as described in the proxy statement.
- 0001104659-17-036004Proposal 3: The approval of an advisory (non-binding) resolution to approve the Company’s executive compensation as described in the proxy statement.
- 0001104659-16-124317Proposal 3: The approval of an advisory (non-binding) resolution to approve the Company’s executive compensation as described in the proxy statement.
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Velarion, “Territorial Bancorp executive compensation, FY2022–FY2023.” https://intel.velarion.ai/comp/TBNK (accessed 2026).
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The paid brief for Territorial Bancorp
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$1,500 for the Executive Compensation Report. Both reports for $2,400.
8 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}