Form 4: Central Pacific Financial Corp Director Acquires Shares as Part of Board Compensation

Director Jonathan B. Kindred acquired 3,524 shares of Central Pacific Financial Corp stock as part of his 2024 board fees.

Summary

• On May 14, 2024, Jonathan B. Kindred, a director of Central Pacific Financial Corp, acquired 3,524 shares of common stock at a price of $21.28 per share.
• This acquisition was part of the 2024 Board of Director fees, covering the period from May 1, 2024, to April 30, 2025.
• The 2024 board fees were approved by the Board Compensation Committee in July 2023.
• Following the transaction, Kindred directly owns 11,233 shares of Central Pacific Financial Corp.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The director's acquisition of shares as part of their compensation package is a common practice and suggests alignment with shareholder interests. There are no negative indicators in the filing.

Positives

• Director's acquisition of shares demonstrates confidence in the company.
• The acquisition is part of a pre-approved compensation plan, indicating transparency and good governance.

Future Outlook

No specific future outlook provided in this document.

Industry Context

This filing is a routine disclosure related to insider transactions, which are common in publicly traded companies. It provides transparency regarding the compensation of board members and their alignment with shareholder interests.

Comparison to Industry Standards

• Director compensation in the form of stock is a common practice among publicly traded companies to align the interests of directors with those of shareholders.
• Comparable companies such as Bank of Hawaii Corporation (BOH) and First Hawaiian, Inc. (FHB) also utilize stock-based compensation for their board members.
• The specific amount and terms of the stock compensation are determined by the board compensation committee and are generally in line with industry standards for companies of similar size and performance.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders by aligning the director's interests with theirs.
• There is no significant impact on employees, customers, suppliers, or creditors.

Key Dates