Morimoto David 4

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.