HE

SEC source: 0000354707-21-000076 · primary_doc.xml · nonDerivative · entry 1

FARGO THOMAS B · CIK 0001317283 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,138

F1 · shares: Stock Grant pursuant to the 2011 HEI Director Stock Plan.

SEC source: 0000354707-21-000075 · primary_doc.xml · nonDerivative · entry 1

DAHL RICHARD J · CIK 0001278231 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,365

F1 · shares: Stock Grant pursuant to the 2011 HEI Director Stock Plan.

SEC source: 0000354707-21-000074 · primary_doc.xml · nonDerivative · entry 1

Powell Mary · CIK 0001730240 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,570

F1 · shares: Stock Grant pursuant to the 2011 HEI Director Stock Plan.

F2 · balance_after: Includes Shares acquired under the Hawaiian Electric Industries, Inc., Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000072 · primary_doc.xml · nonDerivative · entry 1

RUSSELL KEITH P · CIK 0001199202 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,514

F1 · shares: Stock Grant pursuant to the 2011 HEI Director Stock Plan.

SEC source: 0000354707-21-000073 · primary_doc.xml · nonDerivative · entry 1

FOWLER PEGGY Y · CIK 0001254397 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,365

F1 · shares: Stock Grant pursuant to the 2011 HEI Director Stock Plan.

SEC source: 0000354707-21-000071 · primary_doc.xml · nonDerivative · entry 1

SCILACCI W JAMES · CIK 0001182928 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,588

F1 · shares: Stock Grant pursuant to the 2011 HEI Director Stock Plan.

F2 · balance_after: Includes Shares acquired under the Hawaiian Electric Industries, Inc., Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000070 · primary_doc.xml · nonDerivative · entry 1

KANE MICAH A. · CIK 0001549810 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,513

F1 · shares: Stock Grant pursuant to the 2011 HEI Director Stock Plan.

F2 · balance_after: Includes Shares acquired under the Hawaiian Electric Industries, Inc., Dividend Reinvestment and Stock Purchase Plan,

SEC source: 0000354707-21-000069 · primary_doc.xml · nonDerivative · entry 1

Connors Celeste Anne · CIK 0001776571 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,434

F1 · shares: Stock Grant pursuant to the 2011 HEI Director Stock Plan.

SEC source: 0000354707-21-000068 · primary_doc.xml · nonDerivative · entry 1

Teranishi Ann · CIK 0001861850 · Pres & CEO, Amer Savings Bank

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,980.86

F1 · shares: Grant of 3,220 restricted stock units on May 18, 2021. Each restricted stock unit represents a contingent right to receive one share of HEI common stock. The restricted stock units will vest in annual installments over three years.

F2 · balance_after: This number includes an accrued dividend (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid in HE stock. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000064 · primary_doc.xml · nonDerivative · entry 4

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,191

F1 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000064 · primary_doc.xml · nonDerivative · entry 3

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,291

F1 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000064 · primary_doc.xml · nonDerivative · entry 2

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,295

F1 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000064 · primary_doc.xml · nonDerivative · entry 1

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,182

F1 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000032 · edgar.xml · nonDerivative · entry 4

WACKER RICHARD F · CIK 0001233175 · Pres & CEO, Amer Savings Bank

10b5-1 filing: Not disclosed

Ownership: Indirect · By Richard Frederick Wacker Living Trust

Disclosed balance after: 88,779

F4 · kind: Transfer of shares to trust account.

SEC source: 0000354707-21-000032 · edgar.xml · nonDerivative · entry 3

WACKER RICHARD F · CIK 0001233175 · Pres & CEO, Amer Savings Bank

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,349

F4 · kind: Transfer of shares to trust account.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000032 · edgar.xml · nonDerivative · entry 2

WACKER RICHARD F · CIK 0001233175 · Pres & CEO, Amer Savings Bank

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 24,287

F2 · price: Closing stock price on February 19, 2021.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000032 · edgar.xml · nonDerivative · entry 1

WACKER RICHARD F · CIK 0001233175 · Pres & CEO, Amer Savings Bank

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,012

F1 · shares: Shares awarded under the 2018-2020 Company's Long-Term Incentive Plan for 2018-2020 performance period.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000031 · edgar.xml · nonDerivative · entry 2

Ito Paul K · CIK 0001360543 · VP Tax, Contr & Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,229.458

F2 · price: Closing stock price on February 19, 2021

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

F4 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000031 · edgar.xml · nonDerivative · entry 1

Ito Paul K · CIK 0001360543 · VP Tax, Contr & Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,958.458

F1 · shares: Shares awarded under the 2018-2020 Company's Long-Term Incentive for 2018-2020 performance period.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

F4 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000030 · edgar.xml · nonDerivative · entry 2

LAU CONSTANCE H · CIK 0001193241 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 44,425

F2 · price: Closing stock price on February 19, 2021.

F3 · balance_after: This number includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid on HE stock. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000030 · edgar.xml · nonDerivative · entry 1

LAU CONSTANCE H · CIK 0001193241 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,486

F1 · shares: Shares awarded under the 2018-2020 Company's Long-Term Incentive for 2018-2020 performance period.

F3 · balance_after: This number includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid on HE stock. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000029 · edgar.xml · nonDerivative · entry 2

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,591

F2 · price: Closing stock price on February 19, 2021.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000029 · edgar.xml · nonDerivative · entry 1

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 41,534

F1 · shares: Shares awarded under the 2018-2020 Company's Long-Term Incentive Plan for 2018-2020 performance period.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000028 · edgar.xml · nonDerivative · entry 2

SEU SCOTT W.H. · CIK 0001695487 · Pres & CEO, Hawn Electric

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 24,285.44

F2 · price: Closing stock price on February 19, 2021.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

F4 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000028 · edgar.xml · nonDerivative · entry 1

SEU SCOTT W.H. · CIK 0001695487 · Pres & CEO, Hawn Electric

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,557.44

F1 · shares: Shares awarded under the 2018-2020 Company's Long-Term Incentive Plan for 2018-2020 performance period.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

F4 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000026 · edgar.xml · nonDerivative · entry 2

Murao Kurt K. · CIK 0001798186 · EVP GC & Chief Admin Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,388

F2 · price: Closing stock price on February 19, 2021.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

F4 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000026 · edgar.xml · nonDerivative · entry 1

Murao Kurt K. · CIK 0001798186 · EVP GC & Chief Admin Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,502

F1 · shares: Shares awarded under the 2018-2020 Company's Long-Term Incentive Plan for 2018-2020 performance period.

F3 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2018 (first RSU grants in 2018) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

F4 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000021 · edgar.xml · nonDerivative · entry 1

SEU SCOTT W.H. · CIK 0001695487 · Pres & CEO, Hawn Electric

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 24,287.44

F1 · shares: Grant of 8,946 restricted stock units on February 09, 2021. Each restricted stock unit represents a contingent right to receive one share of HEI common stock. The restricted stock units will vest in annual installments over four years.

F2 · balance_after: This number includes an accrued dividend (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid in HE stock. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

F3 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000020 · edgar.xml · nonDerivative · entry 1

LAU CONSTANCE H · CIK 0001193241 · Director · President & CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 68,070

F1 · shares: Grant of 21,079 restricted stock units on February 09, 2021. Each restricted stock unit represents a contingent right to receive one share of HEI common stock. The restricted stock units will vest in annual installments over four years.

F2 · balance_after: This number includes an accrued dividend (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid in HE stock. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000019 · edgar.xml · nonDerivative · entry 1

WACKER RICHARD F · CIK 0001233175 · Pres & CEO, Amer Savings Bank

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 13,611

F1 · shares: Grant of 4,224 restricted stock units on February 09, 2021. Each restricted stock unit represents a contingent right to receive one share of HEI common stock. The restricted stock units vest in annual installments over four years.

F2 · balance_after: This number includes an accrued dividend (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid in HE stock. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000018 · edgar.xml · nonDerivative · entry 1

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 47,203

F1 · shares: Grant of 8,040 restricted stock units on February 09, 2021. Each restricted stock unit represents a contingent right to receive one share of HEI common stock. The restricted stock units will vest in annual installments over four years.

F2 · balance_after: This number includes an accrued dividend (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid in HE stock. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-21-000017 · edgar.xml · nonDerivative · entry 1

Murao Kurt K. · CIK 0001798186 · EVP GC & Chief Admin Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,766

F1 · shares: Grant of 5,324 restricted stock units on February 09, 2021. Each restricted stock unit represents a contingent right to receive one share of HEI common stock. The restricted stock units will vest in annual installments over four years.

F2 · balance_after: This number includes an accrued dividend (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid in HE stock. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

F3 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-21-000016 · edgar.xml · nonDerivative · entry 1

Ito Paul K · CIK 0001360543 · VP Tax, Contr & Treasurer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,269.458

F1 · shares: Grant of 2,653 restricted stock units on February 09, 2021. Each restricted stock unit represents a contingent right to receive one share of HEI common stock. The restricted stock units vest in annual installments over four years.

F2 · balance_after: This number includes an accrued dividend (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid in HE stock. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

F3 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc. Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-20-000091 · primary_doc.xml · nonDerivative · entry 1

Powell Mary · CIK 0001730240 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,121.3107

F1 · shares: Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

SEC source: 0000354707-20-000092 · primary_doc.xml · nonDerivative · entry 1

Connors Celeste Anne · CIK 0001776571 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,069

F1 · shares: Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

SEC source: 0000354707-20-000090 · primary_doc.xml · nonDerivative · entry 1

RUSSELL KEITH P · CIK 0001199202 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,509

F1 · shares: Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

SEC source: 0001418812-20-000058 · primary_doc.xml · nonDerivative · entry 1

Zlotnicka Eva T. · CIK 0001748076 · Director · See Remarks

ValueAct Holdings, L.P. · CIK 0001418814 · Director · See Remarks

ValueAct Spring Master Fund, L.P. · CIK 0001728461 · Director · See Remarks

ValueAct Spring Master Fund A, L.P. · CIK 0001795980 · Director · See Remarks

VA Partners I, LLC · CIK 0001418812 · Director · See Remarks

ValueAct Capital Management, L.P. · CIK 0001351069 · Director · See Remarks

ValueAct Capital Management, LLC · CIK 0001351073 · Director · See Remarks

ValueAct Holdings II, L.P. · CIK 0001763309 · Director · See Remarks

ValueAct Holdings GP, LLC · CIK 0001418813 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,241

F1 · shares: Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

F2 · ownership.direct: The ValueAct entities referred to in this footnote 2 are collectively referred to herein as "ValueAct Capital." Under an agreement with ValueAct Capital, Eva T. Zlotnicka is deemed to hold the shares for the benefit of the limited partners of ValueAct Spring Master Fund, L.P. and indirectly for (i) VA Partners I, LLC as General Partner of ValueAct Spring Master Fund, L.P., (ii) ValueAct Capital Management, L.P. as the manager of ValueAct Spring Master Fund, L.P., (iii) ValueAct Capital Management, LLC as General Partner of ValueAct Capital Management, L.P., (iv) ValueAct Holdings, L.P. as the majority owner of the membership interests of VA Partners I, LLC, (v) ValueAct Holdings II, L.P. as the sole owner of the membership interests of ValueAct Capital Management, LLC and as the majority owner of the limited partnership interests of ValueAct Capital Management, L.P., and (vi) ValueAct Holdings GP, LLC as General Partner of ValueAct Holdings, L.P. and ValueAct Holdings II, L.P.

F3 · ownership.direct: Each reporting person listed herein disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0000354707-20-000089 · primary_doc.xml · nonDerivative · entry 1

KANE MICAH A. · CIK 0001549810 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,824.0437

F1 · shares: Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

F2 · balance_after: Includes shares acquired under the Hawaiian Electric Industries, Inc., Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-20-000088 · primary_doc.xml · nonDerivative · entry 1

SCILACCI W JAMES · CIK 0001182928 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,138.112

F1 · shares: Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

SEC source: 0000354707-20-000087 · primary_doc.xml · nonDerivative · entry 1

DAHL RICHARD J · CIK 0001278231 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,773

F1 · shares: Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

SEC source: 0000354707-20-000086 · primary_doc.xml · nonDerivative · entry 1

FARGO THOMAS B · CIK 0001317283 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,773

F1 · shares: Stock Grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

SEC source: 0000354707-20-000085 · primary_doc.xml · nonDerivative · entry 1

FOWLER PEGGY Y · CIK 0001254397 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,287.0216

F1 · shares: Stock grant pursuant to the 2011 Nonemployee Director Stock Plan.

F2 · balance_after: Includes Shares acquired under the Hawaiian Electric Industries Inc., Dividend Reinvestment and Stock Purchase Plan.

SEC source: 0000354707-20-000093 · primary_doc.xml · nonDerivative · entry 1

RUSSELL KEITH P · CIK 0001199202 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,149

F1 · shares: Stock grant pursuant to the HEI 2011 Nonemployee Director Stock Plan.

F2 · balance_after: Due to a clerical error, the original Form 4 filed on July 2, 2020, is being amended by this Form 4 amendment solely to correct the number of shares beneficially owned by the reporting person following the transaction from 28,509 to 28,149.

SEC source: 0000354707-20-000077 · edgar.xml · nonDerivative · entry 4

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 39,042

F1 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-20-000077 · edgar.xml · nonDerivative · entry 3

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 39,942

F1 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-20-000077 · edgar.xml · nonDerivative · entry 2

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 41,617

F1 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0000354707-20-000077 · edgar.xml · nonDerivative · entry 1

Hazelton Gregory C · CIK 0001647110 · EVP & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 41,717

F1 · balance_after: Includes accrued dividend equivalents (as denominated in shares of HE common stock) from January 31, 2017 (first RSU grants in 2017) to date. Dividend equivalents accrue in HE common stock with respect to outstanding RSUs when and as dividends are paid. Accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock.

SEC source: 0001418812-20-000027 · primary_doc.xml · nonDerivative · entry 3

ValueAct Holdings, L.P. · CIK 0001418814 · Director · See Remarks

ValueAct Spring Master Fund, L.P. · CIK 0001728461 · Director · See Remarks

ValueAct Spring Master Fund A, L.P. · CIK 0001795980 · Director · See Remarks

VA Partners I, LLC · CIK 0001418812 · Director · See Remarks

ValueAct Capital Management, L.P. · CIK 0001351069 · Director · See Remarks

ValueAct Capital Management, LLC · CIK 0001351073 · Director · See Remarks

ValueAct Holdings II, L.P. · CIK 0001763309 · Director · See Remarks

ValueAct Holdings GP, LLC · CIK 0001418813 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 2,012,252

F4 · price: Weighted-average price at which shares were purchased on the listed date between the range of $41.36 and $41.43 per share. The reporting persons undertake to provide upon request to the SEC Staff, the Issuer, or a security holder of the Issuer information regarding the number of shares purchased at each price.

F1 · ownership.nature: The securities reported herein are directly beneficially owned by ValueAct Spring Master Fund A, L.P. and may be deemed to be indirectly beneficially owned by (i) VA Partners I, LLC as General Partner of ValueAct Spring Master Fund A, L.P., (ii) ValueAct Capital Management, L.P. as the manager of ValueAct Spring Master Fund A, L.P., (iii) ValueAct Capital Management, LLC as General Partner of ValueAct Capital Management, L.P., (iv) ValueAct Holdings, L.P. as the majority owner of the membership interests of VA Partners I, LLC, (v) ValueAct Holdings II, L.P. as the sole owner of the membership interests of ValueAct Capital Management, LLC and as the majority owner of the limited partnership interests of ValueAct Capital Management, L.P., and (vi) ValueAct Holdings GP, LLC as General Partner of ValueAct Holdings, L.P. and ValueAct Holdings II, L.P.

F2 · ownership.nature: Each reporting person listed herein disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0001418812-20-000027 · primary_doc.xml · nonDerivative · entry 2

ValueAct Holdings, L.P. · CIK 0001418814 · Director · See Remarks

ValueAct Spring Master Fund, L.P. · CIK 0001728461 · Director · See Remarks

ValueAct Spring Master Fund A, L.P. · CIK 0001795980 · Director · See Remarks

VA Partners I, LLC · CIK 0001418812 · Director · See Remarks

ValueAct Capital Management, L.P. · CIK 0001351069 · Director · See Remarks

ValueAct Capital Management, LLC · CIK 0001351073 · Director · See Remarks

ValueAct Holdings II, L.P. · CIK 0001763309 · Director · See Remarks

ValueAct Holdings GP, LLC · CIK 0001418813 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 1,470,000

F3 · price: Weighted-average price at which shares were purchased on the listed date between the range of $39.33 and $39.67 per share. The reporting persons undertake to provide upon request to the SEC Staff, the Issuer, or a security holder of the Issuer information regarding the number of shares purchased at each price.

F1 · ownership.nature: The securities reported herein are directly beneficially owned by ValueAct Spring Master Fund A, L.P. and may be deemed to be indirectly beneficially owned by (i) VA Partners I, LLC as General Partner of ValueAct Spring Master Fund A, L.P., (ii) ValueAct Capital Management, L.P. as the manager of ValueAct Spring Master Fund A, L.P., (iii) ValueAct Capital Management, LLC as General Partner of ValueAct Capital Management, L.P., (iv) ValueAct Holdings, L.P. as the majority owner of the membership interests of VA Partners I, LLC, (v) ValueAct Holdings II, L.P. as the sole owner of the membership interests of ValueAct Capital Management, LLC and as the majority owner of the limited partnership interests of ValueAct Capital Management, L.P., and (vi) ValueAct Holdings GP, LLC as General Partner of ValueAct Holdings, L.P. and ValueAct Holdings II, L.P.

F2 · ownership.nature: Each reporting person listed herein disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0001418812-20-000027 · primary_doc.xml · nonDerivative · entry 1

ValueAct Holdings, L.P. · CIK 0001418814 · Director · See Remarks

ValueAct Spring Master Fund, L.P. · CIK 0001728461 · Director · See Remarks

ValueAct Spring Master Fund A, L.P. · CIK 0001795980 · Director · See Remarks

VA Partners I, LLC · CIK 0001418812 · Director · See Remarks

ValueAct Capital Management, L.P. · CIK 0001351069 · Director · See Remarks

ValueAct Capital Management, LLC · CIK 0001351073 · Director · See Remarks

ValueAct Holdings II, L.P. · CIK 0001763309 · Director · See Remarks

ValueAct Holdings GP, LLC · CIK 0001418813 · Director · See Remarks

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 1,069,940

F1 · ownership.nature: The securities reported herein are directly beneficially owned by ValueAct Spring Master Fund A, L.P. and may be deemed to be indirectly beneficially owned by (i) VA Partners I, LLC as General Partner of ValueAct Spring Master Fund A, L.P., (ii) ValueAct Capital Management, L.P. as the manager of ValueAct Spring Master Fund A, L.P., (iii) ValueAct Capital Management, LLC as General Partner of ValueAct Capital Management, L.P., (iv) ValueAct Holdings, L.P. as the majority owner of the membership interests of VA Partners I, LLC, (v) ValueAct Holdings II, L.P. as the sole owner of the membership interests of ValueAct Capital Management, LLC and as the majority owner of the limited partnership interests of ValueAct Capital Management, L.P., and (vi) ValueAct Holdings GP, LLC as General Partner of ValueAct Holdings, L.P. and ValueAct Holdings II, L.P.

F2 · ownership.nature: Each reporting person listed herein disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.