X0306 4 2016-02-11 0000354707 HAWAIIAN ELECTRIC INDUSTRIES INC HE 0001454810 Ajello James A P.O. BOX 730 HONOLULU HI 96808-0730 0 1 0 0 EVP & CFO Common Stock 2016-02-11 4 F 0 6770 28.85 D 92516 D Closing stock price on February 11, 2016. Includes accrued dividend equivalents (as denominated in shares of HE common stock). Dividend equivalents accrue with respect to outstanding RSUs when and as dividends are paid on HE stock. Beginning with RSUs granted in 2012, accrued dividend equivalents are denominated in HE common stock and paid upon vesting in shares of HE common stock. This number includes accrued dividend equivalents (as denominated in shares of HE common stock) from February 3, 2012 (first RSU grants in 2012) to date. Kurt K. Murao, Atty-in-Fact for James A. Ajello 2016-02-16