OFFICE OF THE CITY CLERK City and County of Honolulu Honolulu Hale NC INT TS Honolulu, Hawaii 96813-3077 DISCLOSURE OF FINA IAL ER 8 Telephone: 768-3810 PUBLIC DISCLOSURE FORM FOR CALENDAR YEAR 2019 (PRINT OR TYPE CLEARLY) NAME Kirk William Caldwell OFFICE Mayor Of?ce Of the Mayor 23:: NAME OF SPOUSE Donna Tanoue if: Ewin- Check the appropriate box and ?ll in any applicable dates: $.21 El INITIAL STATEMENT: Date on which you assumed office or began employment in this position :1 You must ?le within twenty (20) working days after this date disclosing financial interests held during the preceding calendar year. Eng ANNUAL STATEMENT: You are required to ?le not later than January of each year disclosing all ?nancial interests held during the preceding year. LEAVING OFFICE STATEMENT: You are leaving or have left your of?ce on and must ?le a statement within ten (10) working days of that date. You must disclose financial interests held during the preceding calendar year. DEE CANDIDATE STATEMENT: You must ?le no later than ten (10) working days after the deadline for ?ling as a candidate for of?ce disclosing interests held during the calendar year preceding the due date of the statement. VERIFICATION I declare that have used all reasonable diligence in preparing this form, that i have reviewed Item Nos. 1 through 9, and to the best of my knowledge the information provided in this form is true and correct. Date 44mm? .20 7-0 . Signature} MW Rev. 06/19/14 GENERAL INSTRUCTIONS All questions must be answered in regard to yourself, your spouse, and all dependent children. Use Abbreviations: for filer for spouse . for dependent children forjoint interests of the ?ier and ?ler?s spouse All items on the form must be completed. If you have no information to disclose under a particular item, check ?None?. If additional space is required to complete an item, check ?Additional sheets attached?. Make a copy of your completed ?nancial disclosure form for your records for future reference. Disciosures need not be made by exact dollar amounts but may be reported by ?range of value". You may indicate the value of a reportable interest by using the appropriate letter from the following codes: A. Less than $1 ,000 E. $50,000 - $99,999 l. $300,000 - $399,999 M. $700,000 $799,999 8. $1 ,000 - $9,999 F. $100,000 - $149,999 J. $400,000 - $499,999 N. $800,000 - $899,999 C. $10,000 - $24,999 G. $150,000 - $199,999 K. $500,000 $599,999 0. $900,000 - $999,999 D. $25,000 - $49,999 H. $200,000 - $299,999 L. $600,000 - $699,999 P. At least $1,000,000 1. INCOME. Only report compensation earned for services rendered equal to $1,000 a year or more from any employment including, but not iimited to, income from the City, retirement, sociai security, and deferred compensation. Do not report interest, dividends, alimony, property settlements, or child support payments. Individual items of compensation that constitute a portion of the gross income of a business or profession need not be disclosed. Report income from rental property here. None Additional sheets attached Recipient Employer/Source Position/Service Rendered When Annuai Income City and County Mayor 2019 of Honolulu 530 s. King St. Hon., HI 96813 Rev. 06/19/14 1. INCOME (continued) RECIPIENT WHEN ANNUAL RENDERED INCOME SP Bank of Hawaii Corporation Bank Vice Chair (Retired) 2019 of Hawaii (deterred PO. Box 2900 compensation Hon., HI 96846 income) SP Bank of Hawaii Corporation Bank Vice Chair (Retired) 2019 of Hawaii (Retirement - PO. Box 2900 Savings Excess Hon., HI 96846 plan) SP Bank of Hawaii Corporation Bank Vice Chair (Retired) 2019 of Hawaii (stock options PO. Box 2900 exercised) Hon., Hi 96846 SP Park Center Building Partnership Income from partnership 2019 3538 Waialae Avenue Hon., HI 96816 SP Kuakini Medical Plaza Income from rental property 2019 321 N. Kuakini Street, #701 Hon., HI 96817 2019 - Financial Disclosure Form 2. CREDITORS. Do not report any debts of less than $3,000. Do not report debts that arise out of retail installment transactions for the purchase of consumer goods, whatever the amount. Do report a secured obligation such as a home mortgage or a car loan. Do report student loans. El None Additional sheets attached Person(s) incurring Debt Creditor Original Loan Amount Amount Outstanding JT Territorial Savings Bank 1132 Bishop Street Hon., HI 96813 3. OWNERSHIP 0R INTERESTS IN BUSINESSES IN THE STATE. Onl beneficial interests having a value of $5,000 or more or equal to 10% incorporated, regulated, or licensed to carry on business in Hawaii. Do not regulated ?nancial institutions, mutual insurance policies, or individua trust, if the fund or trust is disclosed under this item. report ownerships or or more of ownership of businesses report accounts in federal or state I items in a mutual fund or blind EINone Additional sheets attached Business Name and Owner(s) Address Nature of Business Percentage of interest Value of Interest Territorial Financial Less than 1% of (See attached Bancorp Inc. Services outstanding Exhibit A) common stock Rev. 06/19/14 3. OWNERSHIP on ll\ ERESTS INIBUSINESSES IN THE -rA'rE (continued) Hon., 96813 BUSINESS NAME AND NATURE OF PERCENTAGE OF VALUE OF ADDRESS BUSINESS INTEREST INTEREST .SP Bank of Hawaii Corporation Financial services Less than 1% of PO. Box 2900 outstanding common stock Hon., Hi 96846 Park Center Building Park Center Building Commercial office Park Center Building 2019 Total Partnership, a Hawaii Partnership building Partnership was dissolved Property general partnership 3538 Waialae Avenue and terminated, effective as Assessed Value: Hon., HI 96816 of 06/30/19. Partners: - Tanoue?s Saimin Prior to dissolution, SP had Delicatessen, inc. 10.25% fractional interest in Roy Toshiro Tanoue Park Center Bldg. Revocable Trust Partnership. SP was also (SP and Ross E. Tanoue Successor Co?Trustee of are successor 00- Roy Toshiro Tanoue Trustees) Revocable Trust, which had SP 9.0% fractional interest in - Ross Tanoue Park Center Bldg. - Tanoue Partnership. SP had 2.25% - Wendy Tanoue Kodama beneficial interest under this trust. SP Bank of Hawaii Corporation Financial services Less than 1% of Custodian P.O. Box 2900 outstanding common stock for DC Hon., HI 96846 SP Hawaiian Electric Utility and Less than 1% of Custodian Industries, Inc. Financial services outstanding common stock for DC 900 Richards Street 2019 Financial Disclosure Form 4. OWNERSHIP OR INTERESTS TRANSFERRED. businesses incorporated, regulated, or licensed to car El None Additional sheets attached Only report transfers of ownerships or interests in ry on business in Hawaii during this past year. Ownership or Interest Date of Transfer Park Center Building Partnership, a Hawaii general partnership SP is a partner ofthe partnership. Park Center Building Partnership was dissolved and See details at Section 3. terminated, effective as of 06/30/19. 5. FIDUCIARY POSITIONS. Fiduciary positions include, but are not limited to, of?cerships, directorships, or positions as trustee in any business or org also include being a majority shareholder i positions in non-pro?t corporations. anization, whether or not operated for pro?t. Fiduciary positions a small or closely held corporation. Be sure to report ?duciary El None Additional sheets attached Name Address of Business or Annual Position i?loider Organization Term of Of?ce Compensation Director, Territorial Bancorp Inc. (TBI) and Term: 0 (Directorfees- Board of Territorial Savings Bank (TSB) 2016-2022 gagged Directors 1132 Bishop Street, Honoiulu, HI 96813 (Director fees) TSB Term: 1-year term 2019 (2019 exercised stock options. See attached Exhibit A) 6. CREDITOR INTERESTS IN INSOLVENT BUSINESS worth $5,000 or more. None EIAdditional sheets attached Holder Name Address of Business Nature of Business Value Rev. 06/19/14. J. FIDUCIARY POSITIONS (continued) POSITION HOLDER NAME AND ADDRESS OF TERM OF OFFICE ANNUAL BUSINESS OR ORGANIZATION COMPENSATION Candidate Friends of Kirk Caldwell None dba Kirk Caldwell for Mayor PO. Box 61208, Hon., HI 96839 Advisory Board Mental Health America of Hawaii None Member 1124 Fort Street Mall, Suite 205 Hon., HI 96813 Successor 00- SP Roy T. Tanoue Revocable Trust and None Trustee Majorie H. Tanoue Revocable Trust 0/0 3917 Lanipili Place Hon., HI 96816 Trustee, Board SP Honolulu Museum of Art 2017-2020 None of Trustees 900 S. Beretania Street Hon., Hi 96814 2019 Financial Disclosure Form PERSONALLY REPRESENTED BEFORE CITY AGENCIES. Only report representation for which you have received compensation during the preceding calendar year. Do not report representation involving ministerial matters. ?Ministerial matters? do not require discretionary authority and do not need to be disclosed. None DAdditional sheets attached Representative Client City Agency Nature of Representation DNone .Additionai sheets attached Owner(s) Tax Map Key Number Street Address Value Year Obtained JT Personal Residence 2004 2726 Hillside Avenue (aka 2725 Terrace Drive) Honolulu, Hl 96822 9. REAL PROPERTY TRANSFERRED. Only re ort real property transferred in the City and County of Honolutu during the preceding calendar year. or this item, Indicate the actual amount of the transac Ion even if it IS less than the value (as In the case of agift). You are not required to report the tax map key number and street address for your personal resi ence or the personal residence of your spouse or dependent children; it you choose not to report the tax map key number and street address, identify instead as ?personal resrdence." DNone .Additional sheets attached Selier/Donor Buyer/Donee Date Price Tax Map Key Number Street Address see attached sheet Rev. 06/19/14 a. REAL PROPERTY OWNED (continued) OWNER TAX MAP KEY NUMBER 8: VALUE 1 YEAR STREET ADDRESS OBTAINED Park Center Building TMK 1-3-3-5~84 2019 Total Property Assessed Value: 2001, 2004 Partnership Parcel No. 330050840000 and 2009 Park Center Building SP does not own interest in the property SP is a partner of this 3538 Waialae Avenue directly. SP has 10.25% fractional interest partnership. Hon., HI 96816 in Park Center Building Partnership, which owns the Total Property. See Section 3 for details. SP is also Successor Co-Trustee of Roy Toshiro Tanoue Revocable Trust, which has 9.0% fractional interest in Park Center Building Partnership. SP has 2.25% beneficial interest under this trust. Fee Owner: Kuakini TMK HPR 39 2019 Total Property Assessed Value: 2001, 2002, Medical Center Parcel No. 170170280039 2008 Leasehold Owner: SP, Ross E. Tanoue Revocable Living Trust, Tanoue, Wendy Tanoue Kodama, Roy Toshiro Tanoue Revocable Trust Kuakini Medical Plaza 321 N. Kuakini Street, Unit 701 Hon., HI 96817 SP has 12.50% fractional interest in the . leasehold property. SP and Ross Tanoue are Successor Co- Trustees of Roy Toshiro Tanoue Revocable Trust. SP has a 12.50% beneficial interest under this trust. 9. REAL PROPERTY TRANSFERRED (continued) DATE PRICE TAX MAP KEY NUMBER 8: STREET ADDRESS Seller: Buyer: 02/04/19 2019 Total Property TMK Park Center Ing Waialae, LLC Purchase Price: Parcel No. 330050840000 Building 3538 Waialae Avenue Partnership Hon., HI 96816 See Sections 3 and 8 for details. Seller/Leasehold Buyer: 04/30/19 2019 Total Property TMK 1-1~7-17-28 HPR 39 Owner: Lance Mikio Purchase Price: Parcel No. 170170280039 SP, Kagehira Kuakini Medical Plaza Ross E. Tanoue Revocable Living Trust, Tanoue, Wendy Tanoue Kodama, Roy Toshiro Tanoue Revocable Trust. See Section 8 for details. Revocable Trust Hon., HI 96817 321 N. Kuakini Street, Unit 701 1 Total Property Assessed Values are based on data as of 1 Department of Budget and Fiscal Services, Real Property A 2019 - Financiai Disclosure Form /11/19, published by the City and County of Honolulu, ssessment Division. Disclosure of Financial interests Public Disclosure Form Kirk William Caldwell For Calendar Year 2019 Although not required by the Office of the City Clerk, Financial Disclosure Form (?City Form?), Kirk Caldwell (Caldwell) has chosen to provide the additional information set forth below. Caldwell was elected to the Board of Directors of Territorial Savings Bank in 2007, and has served in that capacity ever since. He receives director?s fees each year in the range of ($25,000 $49,999). in 2009, he purchased 9,260 shares of Territorial stock. In August of 2010, each member of the Board of Directors of Territorial Savings Bank received a Restricted Stock Grant of 36,821 shares, with the share vesting as follows: August 2011 6,136 shares vested August 2012 6,136 shares vested August 2013 6,136 shares vested August 2014 6,136 shares vested August 2015 6,136 shares vested August 2016 6,136 shares vested No 2017 vestings No 2018 vestings No 2019 vestings The shares are not ?owned? until they are vested. The City Form submitted herewith reflects all of the vested shares owned by Caldwell as ?Ownership Or interests in Business in the State?. 'In 2014, Caldwell sold 3,000 shares of Territorial Savings Bank stock that had previously vested. In 2015, Caldwell sold 4,479 shares of Territorial Savings Bank stock that had previously vested. in 2017, Caldwell sold 4,375 shares of Territorial Savings Bank stock that had previously vested. in 2018, Caldwell did not sell any shares of Territorial Savings Bank. In 2019, Caldwell sold 9,778 shares of Territorial Savings Bank stock in connection with his board approved stock option exercise plan, further details below. On August 19, 2010 each member of the Board of Directors of Territorial Savings Bank received 41,275 Restricted Stock Options with an exercise price of $17.36 per share. These options also ?vested? (that is, became exercisabie) one-sixth per year from 2011 through 2016. On August 8, 2018, Caldwell established a company approved Rule 10b5-1? plan specifying prices at which he wouid exercise shares of his Territorial Savings Bank stock options. The target option Exhibit A 2019 Financial Disclosure Form Disclosure of Financial Interests Public Disclosure Form Kirk William Caldwell For Calendar Year 2019 exercise prices were set as follows: $30.48, $30.98, $31.48 and $31.98. According to the plan established on August 8, 2018, the earliest sale could have taken place on August 21, 2018. This ?cool- off? period between the date Caldwell established the Rule 10b5-1 plan? and the earliest sale date is consistent with SEC best practices surrounding Rule 10b5-1 plans. Under the auspices of Caldwell?s 10b5-1? plan, the following stock options exercises took place during 2019: On July 2, 2019, Caldwell exercised 5,600 options at a price of $30704 per share. The exercise cost per share was $17.36. The net income realized from this transaction was $74,704. On July 2, 2019, Caldwell exercised 1,478 options at a price of $31.196 per share. The exercise cost per share was $17.36. The net income realized from this transaction was $20,456. On July 3, 2019, Caldwell exercised 2,700 options at a price of $30504 per share. The exercise cost per share was $17.36. The net income realized from this transaction was $35,478. The total stock option income realized by Caldwell during 2019 was $130,638. This corresponds to the range of ($100,000 - $149,000). This amount is disclosed in Section 5 ?Fiduciary Positions?. The stock option income realized by Caldwell during 2019 is being reported on a Form 1099.. Miscellaneous issued by Territorial Savings Bank. Exhibit A 2019 Financial Disclosure Form