Form 4: Director Robert Nobriga Acquires CPF Shares
Statement of Changes in Beneficial Ownership
Central Pacific Financial Corp director Robert Nobriga acquired 2,303 shares of common stock as part of his 2026 board compensation.
Summary
- Director Robert Nobriga received 2,303 shares of Central Pacific Financial Corp (CPF) common stock.
- The shares were issued at a price of $33.65 per share.
- The transaction represents the issuance of 2026 Board of Directors fees covering the period from May 1, 2026, to April 30, 2027.
- Following this transaction, Mr. Nobriga's total beneficial ownership in the company is 8,580 shares.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral, routine administrative filing regarding director compensation that does not signal a change in company strategy or financial health.
Positives
- Director alignment with shareholder interests through equity-based compensation.
- Transparent disclosure of board fee structures.
Negatives
- None identified.
Risks
- Market price volatility affecting the value of equity-based compensation.
Future Outlook
The filing does not provide forward-looking financial guidance, as it is a standard disclosure of director compensation.
Management Comments
- The 2026 Board fees were approved by the Board Compensation Committee in October 2025.
Industry Context
StockSavvy.ai notes that equity-based compensation for board members is a standard corporate governance practice in the banking sector, designed to align director incentives with long-term shareholder value.
Comparison to Industry Standards
- The use of stock-based compensation for board fees is consistent with practices at regional banks like Bank of Hawaii or First Hawaiian Bank.
- The disclosure follows standard SEC Section 16(a) reporting requirements for publicly traded financial institutions.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compensation Structure | Issuance of 2026 Board fees in the form of company stock. | 05/15/2026 | Aligns director compensation with equity performance. |
Stakeholder Impact
- Shareholders: Increased alignment between director interests and company performance.
- Director: Increased equity stake in the company.
Next Steps
- No future actions or milestones were mentioned in this filing.
Key Dates
| Date | Description |
|---|---|
| 12/27/2023 | Date of Power of Attorney execution. |
| 05/15/2026 | Date of the reported stock acquisition transaction. |
| 05/18/2026 | Date of filing signature. |
Keywords
Central Pacific Financial Corp, CPF, Director, Insider Transaction, Form 4, Equity Compensation
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