Form 4: Central Pacific Financial Director Sells Shares Under Pre-Arranged Trading Plan

Paul K. Yonamine, a Director at Central Pacific Financial Corp., sold 2,765 shares of common stock for $26.31 per share, as part of a pre-established Rule 10b5-1 trading plan.

Summary

• Paul K. Yonamine, a Director of Central Pacific Financial Corp. (CPF), reported a transaction involving the sale of common stock.
• On June 5, 2025, Mr. Yonamine disposed of 2,765 shares of CPF common stock at a price of $26.31 per share.
• This transaction was executed pursuant to a Rule 10b5-1 Plan, which was entered into by Mr. Yonamine on March 5, 2025, indicating no discretion regarding the timing of the sale.
• Following this transaction, Mr. Yonamine's direct beneficial ownership of common stock is 19,711 shares, in addition to other direct and indirect holdings.
• His indirect beneficial ownership includes 3,000 shares held through the CPF Directors Deferred Comp Plan.
• The filing also details various direct holdings from previously vested Performance Share Unit (PSU) and Restricted Stock Unit (RSU) grants, with vesting dates ranging from February 2022 to February 2025.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While it's an insider sale, it was conducted under a pre-arranged 10b5-1 plan, which is a common and compliant practice, mitigating any negative implications of an unplanned sale.

Positives

• The transaction was conducted under a Rule 10b5-1 Plan, which demonstrates pre-planning and adherence to SEC guidelines, reducing concerns about opportunistic insider trading.

Negatives

• A director selling shares, even under a pre-arranged plan, can sometimes be perceived as a lack of confidence in the company's near-term prospects, although this is mitigated by the 10b5-1 plan.

Risks

• While the sale was pre-planned, significant insider selling, if it were to occur more broadly or in larger volumes, could potentially signal internal concerns about future performance or valuation.

Future Outlook

This document does not contain any forward-looking statements or guidance regarding the company's future financial performance or strategic outlook.

Management Comments

• The transaction was effected pursuant to a Rule 10b5-1 Plan entered into by the reporting person on March 5, 2025. Accordingly, the reporting person had no discretion with regard to the timing of the transaction.

Industry Context

This Form 4 filing is a routine disclosure of an insider stock transaction and does not provide specific insights into broader industry trends or competitive dynamics within the financial services or banking sector. It reflects an individual director's portfolio management rather than a corporate strategic move.

Corporate Governance

Related Party Transactions

• The reporting person holds 3,000 shares indirectly through the CPF Directors Deferred Comp Plan, which is a standard compensation arrangement for directors.

Stakeholder Impact

• Shareholders: The sale of shares by a director, even under a 10b5-1 plan, provides transparency regarding insider holdings and transactions. While a sale, it's a relatively small percentage of the director's total holdings and was pre-planned, so the direct impact on shareholder sentiment is likely minimal.
• Employees: No direct impact on employees is indicated by this filing.

Key Dates

Keywords

Central Pacific Financial Corp, CPF, Paul K. Yonamine, Director, SEC Form 4, Insider Trading, Stock Sale, Beneficial Ownership, Rule 10b5-1 Plan, Common Stock, Financial Services, Banking