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CENTRAL PACIFIC FINANCIAL CORP — Director's Dealing 2015
May 6, 2015
32388_dirs_2015-05-05_16976581-08e9-4480-8afb-e8c61682cf4e.zip
Director's Dealing
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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: ISONO DENIS (EVP & CFO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2015-05-04 | Common Stock | M | 1863 | $22.99 | Acquired | 14037 | Indirect |
| 2015-05-04 | Common Stock | M | 19343 | $22.99 | Acquired | 33380 | Indirect |
| 2015-05-04 | Common Stock | F | 370 | $22.99 | Disposed | 33010 | Indirect |
| 2015-05-04 | Common Stock | F | 3841 | $22.99 | Disposed | 29169 | Indirect |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2015-05-04 | Restricted Stock Unit | $0 | M | 1863 | Disposed | 2017-05-02 | Common Stock (1863) | Direct |
| 2015-05-04 | Restricted Stock Unit | $0 | M | 19343 | Disposed | 2017-05-02 | Common Stock (19343) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 5886 | Indirect |
| Common Stock | 272 | Indirect |
| Common Stock | 2000 | Indirect |
| Common Stock | 2927 | Indirect |
| Common Stock | 30 | Indirect |
| Common Stock | 18 | Indirect |
| Common Stock | 11723 | Indirect |
| Common Stock | 6967 | Direct |
| Common Stock | 13790 | Direct |
| Common Stock | 4498 | Direct |
| Common Stock | 1499 | Direct |
Footnotes
F1: PSUs vested at 1.73X target. 1st tranche = 60%
F2: PSUs (Two-thirds of 02/28/14 performance award grant): Based on attainment of 90% (threshold) of Board approved 2014 Target Net Income of $40.05 million. If threshold is not achieved, all shares will be forfeited. If threshold is achieved, the first tranche will vest in 2015; followed by the second and third tranches in 2016 and 2017 respectively. Vesting in 2016 is conditioned on the Company achieving a net income of at least $30 million in 2015. Likewise, vesting in 2017 is conditioned on the Company achieving a net income of at least $30 million in 2016. Actual shares earned will be based on 2014 Target Net Income results, with a Stretch Opportunity from 90% of Target up to 200% (cap). 1/3 of each portion will vest equally over the next 3 years.
F3: RSUs (one-third of 2/28/14 grant) Time Based, whereby shares vest in equal increments over 3 years.
F4: 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
F5: RSUs time-based; granted 2/17/15