CENTRAL PACIFIC FINANCIAL CORP — Director's Dealing 2015

May 6, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTRAL PACIFIC FINANCIAL CORP (CPF)
CIK: 0000701347
Period of Report: 2015-05-04

Reporting Person: Mizumoto Lance A. (President & CBO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-04	Common Stock	M	2096	$22.99	Acquired	14291	Direct
2015-05-04	Common Stock	M	21761	$22.99	Acquired	36052	Direct
2015-05-04	Common Stock	M	225	$22.99	Acquired	36277	Direct
2015-05-04	Common Stock	M	2343	$22.99	Acquired	38620	Direct
2015-05-04	Common Stock	F	1234	$22.99	Disposed	37386	Direct
2015-05-04	Common Stock	F	10575	$22.99	Disposed	26811	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-05-04	Restricted Stock Unit	$0	M	2096	Disposed	2017-05-02	Common Stock (2096)	Direct
2015-05-04	Restricted Stock Unit	$0	M	21761	Disposed	2017-05-02	Common Stock (21761)	Direct
2015-05-04	Restricted Stock Unit	$0	M	225	Disposed	2017-05-02	Common Stock (225)	Direct
2015-05-04	Restricted Stock Unit	$0	M	2343	Disposed	2017-05-02	Common Stock (2343)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	25267	Direct
Common Stock	8122	Direct
Common Stock	2706	Direct

Footnotes

F1: PSUs vested at 1.73X target. 1st tranche = 60%

F2: Includes Common Stock and RSUs (performance & time) from 2/28/14 grant

F3: RSUs performance-based, granted 2/17/15 reported at maximum number of shares to vest. Actual number of shares to vest based on performance results

F4: RSUs time-based; granted 2/17/15