CATY CATHAY GENERAL BANCORP

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q3 2023: $46M, Q2 2023: $31M, Q1 2023: $33M, Q3 2022: $37M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $46M vs trailing avg $34M (+38%)

What percentage of free cash flow is going to buybacks? Bull: 30-80%. Bear: <10% or >80%.

Buyback $147M / FCF $187M = 78% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 1,500,360 shares = 2.1% of 70,863,324 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

13 open-market purchases by 1 insiders

• Sun Richard () bought 4,000 shares at $35.00 on 2023-04-25
• Sun Richard () bought 700 shares at $35.00 on 2023-04-25
• Sun Richard () bought 1,100 shares at $35.00 on 2023-04-25
• Sun Richard () bought 300 shares at $35.00 on 2023-04-25
• Sun Richard () bought 5,100 shares at $25.00 on 2020-08-24
• Sun Richard () bought 2,000 shares at $25.00 on 2020-08-24
• Sun Richard () bought 2,200 shares at $25.00 on 2020-08-24
• Sun Richard () bought 2,000 shares at $30.00 on 2020-08-04
• Sun Richard () bought 5,000 shares at $30.00 on 2020-08-04
• Sun Richard () bought 1,500 shares at $30.00 on 2020-08-04

Are insider purchases happening during the same quarters the company is actively buying back stock?

Insider buying coincided with company buybacks in 0 of 4 quarters

Looking at all open-market transactions, are insiders net buyers or net sellers?

Insiders bought $1M, sold $16M (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 18.9x more than bought. 4 C-suite officers among sellers

• Lo Thomas M. (EVP, Chief Admin Officer) sold 1,000 shares on 2026-01-29
• Liu Chang (President & CEO) sold 5,165 shares on 2025-10-28
• Lo Thomas M. (EVP, Chief Admin Officer) sold 1,000 shares on 2025-10-27
• Lo Thomas M. (EVP, Chief Admin Officer) sold 729 shares on 2025-05-12
• Lo Thomas M. (EVP, Chief Admin Officer) sold 900 shares on 2024-10-30
• BINGHAM KIM R (EVP, Chief Risk Officer) sold 6,000 shares on 2024-07-25
• BINGHAM KIM R (EVP, Chief Risk Officer) sold 6,000 shares on 2023-11-03
• BINGHAM KIM R (EVP, Chief Risk Officer) sold 6,000 shares on 2022-07-29
• BINGHAM KIM R (EVP, Chief Risk Officer) sold 3,000 shares on 2021-10-29
• WONG IRWIN (SEVP, Chief Admin Officer) sold 6,200 shares on 2020-12-10