Ota Saedene K 4

What Happened

• Ota Saedene, a Director of Central Pacific Financial Corp. (CPF), was granted 2,117 shares (derivative/phantom stock) on 2026-05-15 at a per-share value of $33.65, totaling $71,237. The Form 4 reports this as an award (code A) rather than an open-market purchase or sale.

Key Details

• Transaction date and value: 2026-05-15 — 2,117 phantom shares @ $33.65 each = $71,237.
• Type: Award/Grant of derivative securities (phantom stock) held in the Director's Deferred Compensation Plan.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: The award is phantom stock (economic equivalent of common shares) payable in cash after the director leaves service. The grant covers 2026 board fees (period 5/1/26–4/30/27) approved by the Board Compensation Committee in Oct 2025; filing also notes prior (2022) board fees held as phantom stock.
• Filing timeliness: Form filed 2026-05-18 for a 2026-05-15 transaction — the filing appears to be timely.

Context

• This was a compensation award (phantom shares tied to deferred pay), not an open-market purchase or sale; such awards are routine board compensation and do not necessarily signal immediate insider buying or selling intentions. The phantom shares are derivative and will be settled in cash upon the director’s termination of service.