Form 4: Central Pacific Financial Corp Director Ngo Reports Stock Sale Under 10b5-1 Plan

Director Agnes Catherine Ngo of Central Pacific Financial Corp sold 3,333 shares of common stock at $19 per share on April 12, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 12, 2024, Agnes Catherine Ngo, a director of Central Pacific Financial Corp, sold 3,333 shares of common stock at a price of $19 per share.
• The sale was executed under a Rule 10b5-1 trading plan established on May 1, 2023.
• Following the transaction, Ngo directly owns various blocks of common stock acquired through performance-based and time-based restricted stock units (RSUs) and performance share units (PSUs) granted between 2014 and 2022.
• Ngo also indirectly owns shares through the Hines & Ngo 2000 Family Trust and the CPB Foundation, as well as through a Robert Hines IRA.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports a stock sale under a pre-arranged trading plan, with no indication of positive or negative implications for the company.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like directors and officers, trade their company's stock. These filings provide transparency to the market regarding insider transactions.

Stakeholder Impact

• The stock sale by a director could be perceived neutrally by shareholders as it was conducted under a pre-arranged trading plan.
• The impact on other stakeholders is likely minimal.

Key Dates