Form 4: Director Saedene Ota Receives CPF Equity Compensation
Statement of Changes in Beneficial Ownership
Central Pacific Financial Corp. director Saedene Ota acquired 2,117 shares of phantom stock as part of her 2026 board compensation.
Summary
- Director Saedene Ota was granted 2,117 shares of phantom stock in Central Pacific Financial Corp. (CPF).
- The grant represents board fees for the period of May 1, 2026, to April 30, 2027.
- The phantom stock is valued at $33.65 per share.
- These shares are held in the Director's Deferred Compensation Plan and are payable in cash upon termination of service.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral, routine administrative filing that reflects standard corporate governance and compensation practices.
Positives
- Alignment of director interests with shareholders through equity-based compensation.
- Transparent disclosure of board compensation structure.
Negatives
- None identified; this is a standard administrative filing for director compensation.
Risks
- The value of the phantom stock is tied to the future performance of CPF common stock.
- Liquidity of the compensation is deferred until the director's termination of service.
Future Outlook
The filing does not provide forward-looking financial guidance for the company, focusing solely on director compensation.
Management Comments
- The 2026 Board fees were approved by the Board Compensation Committee in October 2025.
Industry Context
StockSavvy.ai notes that this is a routine regulatory filing regarding director compensation, common among regional banking institutions to ensure board alignment with long-term equity performance.
Comparison to Industry Standards
- The use of deferred compensation plans for directors is a standard practice among U.S. regional banks to promote long-term retention and alignment.
- The valuation and structure are consistent with typical corporate governance practices for mid-cap financial institutions.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compensation Issuance | Issuance of 2026 Board fees in the form of phantom stock. | 05/15/2026 | Neutral; standard compensation practice. |
Stakeholder Impact
- Shareholders: Minimal impact; reflects standard director compensation.
Next Steps
- No further actions required by the reporting person regarding this specific transaction.
Key Dates
| Date | Description |
|---|---|
| 09/17/2015 | Date of Power of Attorney execution. |
| 10/01/2025 | Board Compensation Committee approval of 2026 fees. |
| 05/15/2026 | Date of the reported transaction. |
| 05/18/2026 | Filing date of the Form 4. |
Keywords
Central Pacific Financial Corp, CPF, Form 4, Director Compensation, Phantom Stock, Insider Transaction
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