CENTRAL PACIFIC FINANCIAL CORP — Director's Dealing 2016

May 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CENTRAL PACIFIC FINANCIAL CORP (CPF)
CIK: 0000701347
Period of Report: 2016-05-20

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-20	Common Stock	M	1572	$14.31	Acquired	48477	Direct
2016-05-20	Common Stock	S	500	$23.29	Disposed	46905	Direct
2016-05-20	Common Stock	S	200	$23.26	Disposed	48277	Direct
2016-05-20	Common Stock	S	872	$23.25	Disposed	47405	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-20	Nonqualified Stock Option	$14.31	M	1572	Disposed	2022-05-02	Common Stock (1572)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8122	Direct
Common Stock	3574	Direct
Common Stock	2304	Direct
Common Stock	4645	Direct
Common Stock	2340	Direct
Common Stock	6613	Direct

Footnotes

F1: Non-Qualified Stock Options Exercised

F2: Cashless exercise

F3: Cashless exercise

F4: Cashless exercise

F5: 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

F6: 2/16/16 RSU Time-Based Grant. Shares vest equally over 3 years.

F7: RSUs time-based; granted 2/17/15

F8: RSUs performance-based granted 2/28/14

F9: RSU time-based granted 2/28/14

F10: RSU time-based grant 8/17/15, with 5-year vesting schedule, whereby shares to vest in equal increments over 5-years.