Peter Ho, chairman, president and chief executive officer of Bank of Hawaii Corp., received total compensation of $7.9 million in 2014, according to a proxy filed Friday with the Securities and Exchange Commission.

The compensation, which included $5.7 million in stock awards, was more than double the $3.6 million he earned in 2013. He was awarded a one-time performance grant of 28,350 shares of restricted stock and 28,350 restricted stock units in recognition of the successful completion of the bank’s three-year strategic plan.

Ho’s base salary was $794,424, up 5.2 percent from $754,847 a year earlier. 

"Bank of Hawaii’s CEO compensation is largely incentive and performance based," company spokesman Stafford Kiguchi said.

Kiguchi said the value of the one-time grant is only fully realized if the company "continues to achieve rigorous performance-based thresholds and is subject to a four-year vesting schedule. If these thresholds are not met, all or a portion of the grant may be forfeited."