CENTRAL PACIFIC FINANCIAL CORP 4/A

4/A · CENTRAL PACIFIC FINANCIAL CORP · Filed Mar 30, 2015

Form 4/AAmended

Period: 2015-03-02

CCO

Transactions

Exercise/Conversion
Restricted Stock Unit
2015-03-02−4,413→ 6,497 total
Exercise: $0.00→ Common Stock (4,413 underlying)
Tax Payment
Common Stock
2015-03-02$22.98/sh−2,217$50,947→ 3,681 total(indirect: Raymond W Wilson and Cynthia L Wilson JWTROS)
Tax Payment
Common Stock
2015-03-02$22.98/sh−1,297$29,805→ 12,978 total
Exercise/Conversion
Common Stock
2015-03-02$22.98/sh+4,413$101,411→ 8,094 total(indirect: Raymond W Wilson and Cynthia L Wilson JWTROS)

Holdings

Footnotes (8)

[F1]Shares exercised related to vesting from 2/28/13 grant
[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]Shares exercised related to vesting from 2/28/14 grant
[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]RSUs time-based; granted 2/17/15
[F7]3 year step vest starting 2/28/2014
[F8]No expiration unless forfeited before vest.

Documents

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