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

Director Paul Kosasa acquired 3,289 shares of Central Pacific Financial Corp stock at $21.28 per share as part of his board compensation.

Summary

• Paul Kosasa, a director of Central Pacific Financial Corp, acquired 3,289 shares of common stock on May 14, 2024.
• The shares were acquired at a price of $21.28 per share.
• This transaction was part of the 2024 Board of Director fees, covering the period from May 1, 2024, to April 30, 2025, and approved by the Board Compensation Committee in July 2023.
• Following the transaction, Mr. Kosasa directly owns 70,176 shares and indirectly owns 923 shares jointly with Lisa C Kosasa.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director acquiring shares as part of their compensation is generally a good sign, indicating alignment with shareholder interests. However, it's a routine transaction.

Positives

• The acquisition of shares by a director can be seen as a positive signal, indicating confidence in the company's future.

Industry Context

This type of transaction is common for directors receiving stock as part of their compensation. It aligns their interests with those of the shareholders.

Comparison to Industry Standards

• Director compensation packages often include stock options or grants to align their interests with shareholders, a common practice among publicly traded companies.
• Comparable companies in the financial sector, such as Bank of Hawaii Corporation (BOH) and First Hawaiian, Inc. (FHB), also utilize stock-based compensation for their directors.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholder sentiment.

Key Dates