Form 4: Central Pacific Financial EVP Disposes Shares for Tax Obligations
Insider Transaction Report
Diane Murakami, Executive Vice President of Central Pacific Financial Corp., reported the disposition of 687 shares of common stock at $27.6 per share to cover tax liabilities related to vested equity awards.
Summary
- Diane Murakami, Executive Vice President of Central Pacific Financial Corp. (CPF), reported a transaction on May 15, 2025.
- The transaction involved the disposition of 687 shares of CPF Common Stock at a price of $27.6 per share.
- These shares were used to cover tax obligations incurred from the vesting of previously granted equity awards, specifically Restricted Stock Units (RSUs).
- Following this reported transaction, Ms. Murakami beneficially owns 2,886 shares of Common Stock directly.
- The filing also details various other RSU and PSU grants held by Ms. Murakami, including grants from 2020, 2022, 2023, 2024, and 2025, with varying vesting schedules.
Sentiment
Score: 5
Explanation: The document reports a routine insider transaction for tax purposes, which is a neutral event and does not indicate positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
The document does not provide any forward-looking statements or guidance regarding the company's financial performance or strategic direction.
Industry Context
This Form 4 filing is a routine disclosure of an insider transaction, specifically the disposition of shares to cover tax liabilities upon the vesting of equity awards. Such transactions are common in executive compensation and do not typically reflect broader industry trends or competitive positioning.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Delegation of Authority | Diane Murakami has appointed Stacey L. Rocha, VP, Compensation & Workforce Analytics Manager, as her attorney-in-fact to prepare, execute, and file Forms 3, 4, and 5 with the SEC on her behalf, ensuring compliance with Section 16(a) of the Securities Exchange Act of 1934. | 12/21/2022 | This is a standard administrative arrangement to facilitate timely and accurate insider trading disclosures, enhancing compliance efficiency without altering corporate governance structure or policies. |
Stakeholder Impact
- Shareholders: Minimal direct impact as this is a routine, tax-related disposition of shares by an executive, not indicative of a change in company fundamentals or strategy.
- Employees: No direct impact mentioned.
Next Steps
- Future vesting of various RSU and PSU grants held by Ms. Murakami will occur according to their respective schedules (e.g., 2/15/23 RSU vesting evenly over 3 years, 2/15/24 RSU vesting evenly over 3 years, 2/18/25 RSU vesting evenly over 3 years).
Key Dates
| Date | Description |
|---|---|
| 12/21/2022 | Power of Attorney executed by Diane Murakami, appointing Stacey L. Rocha as attorney-in-fact for SEC filings. |
| 01/01/2023 | Date of reported CPF Stock holdings for Diane Murakami. |
| 02/15/2022 | Grant date for certain Performance Stock Units (PSUs) and Restricted Stock Units (RSUs). |
| 02/15/2023 | Grant date for a Restricted Stock Unit (RSU) Time-Based Grant. |
| 02/15/2024 | Grant date for a Restricted Stock Unit (RSU) Grant. |
| 02/15/2025 | Cliff vesting date for 2/15/22 PSU Grants based on 2024 year-end performance results/approval. |
| 02/18/2025 | Date shares from 2/15/22 PSU grants were issued and grant date for a new RSU Grant. |
| 05/15/2020 | Grant date for a Restricted Stock Unit (RSU) Grant, with shares vesting evenly over 5 years. |
| 06/01/2020 | Grant date for a Restricted Stock Unit (RSU) Grant, with shares vesting evenly over 3 years. |
| 05/15/2025 | Date of the reported transaction, where shares were disposed of to cover taxes on vested shares. |
| 06/02/2025 | Date the Form 4 was signed by the attorney-in-fact. |
Recommendation
holdKeywords
Central Pacific Financial Corp, CPF, SEC Form 4, Insider Transaction, Stock Disposition, Equity Compensation, Tax Withholding, Diane Murakami, Executive Vice President, RSU, PSU
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