Central Pacific Financial (CPF) insider filing details charitable gift and vested equity disposals
Rhea-AI Filing Summary
Central Pacific Financial Corp (CPF) Form 4 summary: This Form 4, filed for reporting person Ngo Agnes Catherine, discloses transactions dated 09/03/2025 affecting common stock holdings. The filing shows a charitable gift of 1,612 shares (transaction code G(1)) to a Donor Advised Fund and multiple reported dispositions tied to vested equity awards and RSU/PSU issuances. After the primary reported transaction the filing reports 63,847 shares beneficially owned in an indirect capacity as co‑trustee of a family trust.
The table and explanations list specific vested awards and time‑based grants (PSUs and RSUs) with vesting histories and clarifications of prior filings; many entries are disposals tied to vesting or prior grants. The signature is by an attorney‑in‑fact dated 09/03/2025.
Positive
- Charitable gift disclosed: 1,612 shares donated to a Donor Advised Fund (transaction code G(1)).
- Clarifications provided: Explanatory notes reconcile multiple prior PSU/RSU grants and vesting dates, improving disclosure accuracy.
Negative
- Multiple dispositions recorded: Numerous shares listed as disposed across grant types, reducing directly held share counts.
- Indirect ownership concentration: Significant holdings are held indirectly (63,847 shares reported as indirect via family trust), which may limit direct reporting transparency.
Insights
TL;DR: Routine insider report showing a charitable gift and multiple equity disposals from vested awards; no new derivative positions.
The filing documents a charitable transfer of 1,612 shares and numerous dispositions reflecting issuance and subsequent reporting of vested PSUs/RSUs. Holdings are primarily indirect via a family trust and a foundation, with a post‑transaction indirect beneficial ownership of 63,847 shares reported. Transactions are labeled with standard codes and explained as time‑based or performance‑based vesting events and clarifying supplemental reporting. There is no disclosure here of open market purchases, new option grants, exercise activity, or material change in control.
TL;DR: Form 4 clarifies prior award filings and records a gift; activity appears administrative and disclosure‑cleanup in nature.
The detailed explanation section reconciles multiple past PSU and RSU grants and clarifies actual shares that vested and were issued on specified vesting dates. The single G(1) coded transaction is explicitly a charitable gift. Multiple disposals listed correspond to distributions from prior awards or transfers to foundation/IRA structures. Filing is consistent with routine insider reporting and corrective or supplemental data rather than signaling a governance event.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 1,612 | $0.00 | -- |
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Footnotes (1)
- Charitable gift of shares to a Donor Advised Fund 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. 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. 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. 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. 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. 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. 2/16/21 PSU Grant that cliff vests on 2/16/23 based on 2022 year-end performance results. Amount reported is actual number of shares that vested and were issued on 2/16/23. 2/16/21 PSU Grant that cliff vests on 2/16/23 based on 2022 year-end performance results/approval. Amount reported is actual number of shares that vested and were issued on 2/16/23. 2/16/21 PSU Grant that cliff vests on 2/16/23. Amount reported is actual number of shares that vested and were issued on 2/16/23. 2/15/19 RSU Time-Based Grant. Shares vest evenly over 3 years 2/18/20 RSU Time-Based Grant. Shares vest evenly over 3 years 2/15/18 RSU time-based grant. Shares vest evenly over 3 years. 2/15/22 RSU Time-Based Grant. Shares vest evenly over 3 years 2/16/21 RSU Time-Based Grant. Shares vest evently over 2 years 2/15/17 RSU Time-Based Grant. Shares vest evenly over 3 years 2/16/16 RSU Time-Based Grant. Shares vest equally over 3 years. RSU time-based grant. Shares vest evenly over 3 years RSUs time-based; granted 2/17/15 RSUs performance-based were originally filed on 3/4/2014 at the maximum performance criteria. This supplements that filing to note the actual number shares that vested based on the performance results. RSUs time-based originally filed on 3/4/2014 were reported with RSUs performance-based and combined into one holding. This clarifies that filing and creates a separate holding for the RSUs time-based only. RSU time-based grant 8/17/15, with 5-year vesting schedule, whereby shares to vest in equal increments over 5-years.
