Morimoto David 4
4 · CENTRAL PACIFIC FINANCIAL CORP · Filed Feb 19, 2026
Research Summary
AI-generated summary of this filing
Central Pacific (CPF) COO David Morimoto Receives RSU Award; Shares Withheld
What Happened
David Morimoto, Senior EVP and COO of Central Pacific Financial Corp (CPF), was granted 5,898 restricted stock units (RSUs) on 2026-02-17 (reported as an award, code A). On the same date 2,865 shares were surrendered/withheld to satisfy tax liabilities (three withholding transactions at $34.38 per share), totaling about $98,499. The RSU grant is time-based and vests evenly over three years (see footnote F1); the withholdings are described as shares used for taxes (footnote F3).
Key Details
- Transaction date: 2026-02-17; Form 4 filed 2026-02-19 (timely reporting).
- Award: 5,898 RSUs granted, acquisition price $0.00 (code A).
- Tax withholdings (code F): 833 shares @ $34.38 = $28,639; 1,319 shares @ $34.38 = $45,347; 713 shares @ $34.38 = $24,513. Total withheld: 2,865 shares for ~$98,499.
- Vesting: RSU grant vests evenly over 3 years (footnote F1). Withholdings are noted as shares used for taxes on vested shares (footnote F3).
- Shares owned after transaction: not specified in the provided filing excerpt.
Context
This was an equity award with routine share withholding to cover tax obligations, not an open-market sale or a purchase. Such withholdings are common when RSUs vest (a cashless tax settlement) and are generally administrative rather than a signal of insider sentiment.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-17+5,898→ 5,898 total - Tax Payment
Common Stock
[F2][F3]2026-02-17$34.38/sh−833$28,639→ 5,247 total - Tax Payment
Common Stock
[F4][F3]2026-02-17$34.38/sh−1,319$45,347→ 9,623 total - Tax Payment
Common Stock
[F5][F3]2026-02-17$34.38/sh−713$24,513→ 5,918 total
- 1,766
Common Stock
[F6] - 1,909
Common Stock
[F7] - 859
Common Stock
[F8] - 1,214
Common Stock
[F9] - 2,222
Common Stock
[F10] - 2,377
Common Stock
[F11] - 1,685
Common Stock
[F12] - 1,529
Common Stock
[F13] - 865
Common Stock
[F14] - 1,252
Common Stock
[F15] - 1,425
Common Stock
[F16] - 1,443
Common Stock
[F17] - 984
Common Stock
[F18] - 3,485
Common Stock
[F19] - 5,620
Common Stock
[F20] - 3,375
Common Stock
[F20] - 255
Common Stock
- 7,795
Common Stock
- 2,399
Common Stock
- 455
Common Stock
[F21] - 2,586
Common Stock
[F22] - 1,949
Common Stock
[F23] - 3,575
Common Stock
[F24]
Footnotes (24)
- [F1]2/17/26 RSU Grant. Shares vest evenly over 3 years.
- [F10]2/15/22 PSU Grant that cliff vests on 2/15/25 based on 2024 year-end performance results/approval. Amount reported is actual number of shares that vested and were issued on 2/18/25.
- [F11]2/16/16 PSU Grant that cliff vests on 2/15/19 based on 2018 year-end performance results. Amount reported is actual number of shares that vested and were issued on 2/15/19.
- [F12]2/16/21 PSU Grant that cliff vests on 2/15/24 based on 2023 year-end performance results/approval. Amount reported is actual number of shares that vested and were issued on 2/15/24.
- [F13]2/16/21 PSU Grant that cliff vests on 2/16/24 based on 2023 year-end performance results/approval. Amount reported is actual number of shares that vested and were issued on 2/16/24.
- [F14]2/17/15 PSU Grant. Shares to vest on 2/15/18, based on performance criteria results.
- [F15]2/15/19 RSU Time-Based Grant. Shares vest evenly over 3 years
- [F16]2/18/20 RSU Time-Based Grant. Shares vest evenly over 3 years
- [F17]5/15/20 RSU Time-Based Grant. Shares vest evenly over 3 years.
- [F18]2/15/18 RSU time-based grant. Shares vest evenly over 3 years.
- [F19]2/15/22 RSU Time-Based Grant. Shares vest evenly over 3 years
- [F2]2/15/23 RSU Time-Based Grant. Shares vest evenly over 3 years
- [F20]2/16/21 RSU Time-Based Grant. Shares vest evenly over 3 years.
- [F21]RSU time-based grant 2/15/15. Vesting schedule: 243-2/15/16; 242-2/15/17; 243-2/15/18
- [F22]RSU time-based grant 5/15/14. Outstanding balance as of 7/1/15. Vesting schedule: 1,000-5/15/16; 1,000-5/15/17; 1,000-5/15/18; 1,000-5/15/19
- [F23]RSU time-based grant 5/2/11. Outstanding balance as of 7/1/15. 3,710 shares to vest on 5/2/16
- [F24]RSU time-based grant 8/17/15, with 5-year vesting schedule, whereby shares to vest in equal increments over 5-years.
- [F3]Shares used for taxes on vested shares
- [F4]2/15/24 RSU Grant. Shares vest evenly over 3 years.
- [F5]2/18/25 RSU Grant. Shares vest evenly over 3 years.
- [F6]2/15/17 PSU Grant that cliff vests on 2/18/20 based on 2019 year-end performance results. Amount reported is actual number of shares that vested and were issued on 2/18/20.
- [F7]2/15/18 PSU Grant that cliff vests on 2/16/21 based on 2020 year-end performance results/approval. Amount reported is actual number of shares that vested and were issued on 2/16/21.
- [F8]2/15/19 PSU Grant that cliff vests on 2/15/22 based on 2021 year-end performance results/approval. Amount reported is actual number of shares that vested and were issued on 2/15/22.
- [F9]2/15/22 PSU Grant that cliff vests on 2/15/25 based on 2024 year-end performance results/approval. Amount reported is actual number of shares that vested and were issued on 2/18/25.