Form 4: Central Pacific Financial Corp Director Reports Changes in Beneficial Ownership
SEC Form 4
Paul K. Yonamine, a director of Central Pacific Financial Corp, reports changes in beneficial ownership of company stock following the vesting of performance-based stock units.
Summary
- On February 20, 2025, Paul K. Yonamine, a director of Central Pacific Financial Corp, filed a Form 4 with the SEC.
- The report details changes in his beneficial ownership of the company's common stock.
- The changes are primarily due to the vesting of performance-based stock units (PSUs) granted on February 15, 2022, based on the company's 2024 year-end performance results.
- Mr. Yonamine acquired 4,108 and 7,514 shares of common stock on February 18, 2025, as a result of the PSU vesting.
- The report also lists various other holdings of common stock, including direct and indirect ownership through the CPF Directors Deferred Comp Plan, as well as shares from previous RSU and PSU grants.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing. The vesting of PSUs suggests the company met performance targets, which is mildly positive.
Positives
- The vesting of PSUs indicates that the company met certain performance targets, which is generally a positive sign.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Stakeholder Impact
- The vesting of PSUs could have a slightly dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 06/27/2017 | Date of Power of Attorney execution by Paul Yonamine. |
| 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. |
| 02/16/2021 | PSU Grant that cliff vests on 2/16/23. |
| 02/16/2021 | RSU Time-Based Grant. |
| 02/15/2022 | PSU Grant that cliff vests on 2/15/25 based on 2024 year-end performance results/approval. |
| 02/15/2022 | RSU Time-Based Grant. |
| 02/18/2025 | Date of transaction (PSU vesting and share issuance). |
| 02/20/2025 | Date of Form 4 filing. |
Keywords
beneficial ownership, Form 4, Central Pacific Financial Corp, director, stock, vesting, PSU, RSU
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