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

Director Crystal Rose acquired 3,641 shares of Central Pacific Financial Corp (CPF) as part of her board compensation for the period of May 1, 2024, to April 30, 2025.

Summary

• Crystal Rose, a director of Central Pacific Financial Corp (CPF), acquired 3,641 shares of CPF common stock on May 14, 2024.
• The acquisition was part of her board compensation for the period covering May 1, 2024, to April 30, 2025.
• The shares were issued as phantom stock held in the Director's Deferred Comp Plan.
• Each phantom stock is equivalent to one share of common stock and will be payable in cash after the director's termination of service.
• The price of the acquired shares was $21.28 per share.
• Following the transaction, Crystal Rose beneficially owns 12,218 shares of CPF.
• A power of attorney was previously executed on July 1, 2015, granting certain officers of Central Pacific Financial Corp authority to file SEC forms on her behalf.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The director's acquisition of shares as part of compensation is a standard practice and indicates alignment with shareholder interests. There are no negative aspects highlighted in the document.

Positives

• The acquisition of shares by a director demonstrates alignment with shareholder interests.
• The compensation structure, using phantom stock, incentivizes long-term commitment from the director.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's future performance.

Industry Context

Director share acquisitions are common in the financial industry as part of compensation packages, aligning the interests of management with shareholders. This is a standard practice to incentivize directors to focus on long-term value creation.

Comparison to Industry Standards

• Director compensation packages often include equity components, such as stock options or restricted stock units, to align director interests with shareholder value.
• Companies like Bank of Hawaii Corporation (BOH) and First Hawaiian, Inc. (FHB), which are comparable regional banks, also utilize equity-based compensation for their directors.
• The specific amount and type of equity compensation can vary based on company size, performance, and industry practices.

Stakeholder Impact

• The share acquisition by a director can positively influence shareholder confidence.
• The compensation structure may incentivize the director to make decisions that benefit shareholders in the long term.

Key Dates