Form 4: Central Pacific Financial Corp Director Agnes Ngo Reports Acquisition of Shares
SEC Form 4
Director Agnes Catherine Ngo reports acquisition of Central Pacific Financial Corp shares through board fees and vesting of previously granted stock awards.
Summary
- On May 15, 2025, Agnes Catherine Ngo, a director of Central Pacific Financial Corp, filed a Form 4 disclosing changes in her beneficial ownership of the company's stock.
- The filing indicates that Ms. Ngo acquired 2,536 shares of common stock at a price of $27.6 per share as compensation for board fees.
- Additionally, the filing details Ms. Ngo's holdings of common stock, including shares held directly and indirectly through the Hines & Ngo 2000 Family Trust and the CPB Foundation.
- The filing also includes information on shares acquired through the vesting of performance-based stock units (PSUs) and restricted stock units (RSUs) granted in previous years.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing indicating stock acquisition through board fees and vesting of previously granted stock awards. There are no explicit positive or negative indicators.
Positives
- The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future performance.
- The vesting of PSUs and RSUs suggests that the company has met certain performance targets, which is a positive indicator.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders.
Stakeholder Impact
- The acquisition of shares by a director could positively influence shareholder sentiment.
Key Dates
| Date | Description |
|---|---|
| 05/15/2015 | Date of Power of Attorney execution. |
| 02/16/2016 | PSU Grant that cliff vests on 2/15/19 based on 2018 year-end performance results. |
| 02/15/2017 | PSU Grant that cliff vests on 2/18/20 based on 2019 year-end performance results. |
| 02/15/2018 | PSU Grant that cliff vests on 2/16/21 based on 2020 year-end performance results/approval. |
| 02/15/2019 | PSU Grant that cliff vests on 2/15/22 based on 2021 year-end performance results/approval. |
| 02/18/2020 | RSU Time-Based Grant. Shares vest evenly over 3 years |
| 02/16/2021 | PSU Grant that cliff vests on 2/16/23 based on 2022 year-end performance results. |
| 02/15/2022 | PSU Grant that cliff vests on 2/15/25 based on 2024 year-end performance results/approval. |
| 05/15/2025 | Date of transaction: Acquisition of shares for BOD fees. |
Keywords
Form 4, Beneficial Ownership, Director, Central Pacific Financial Corp, CPF, Stock Acquisition, PSU, RSU
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