X0306 4 2020-02-11 0000354707 HAWAIIAN ELECTRIC INDUSTRIES INC HE 0001233175 WACKER RICHARD F C/O P.O. BOX 730 HONOLULU HI 96808-0730 0 1 0 0 Pres & CEO, Amer Savings Bank Common Stock 2020-02-11 4 A 0 2982 0 A 13411 D Common Stock 98858 I By Richard Frederick Wacker Living Trust Grant of 2,982 restricted stock units on February 11, 2020. 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. Includes accrued dividend equivalents (as denominated in shares of HE common stock) from February 5, 2016 (first RSU grants in 2016) 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. Sean K. Clark, Atty-in-Fact for Richard F. Wacker 2020-02-12