8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): March 14, 2022

Central Pacific Financial Corp.

(Exact name of registrant as specified in its charter)

Hawaii	001-31567	99-0212597
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

220 South King Street, Honolulu, Hawaii

(Address of principal executive offices)

96813

(Zip Code)

(808) 544-0500

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, No Par Value	CPF	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 8.01. OTHER EVENTS

On March 14, 2022, A. Catherine Ngo, Executive Vice Chair and Director of Central Pacific Financial Corp. (the “Company”) and Central Pacific Bank (the "Bank"), entered into a binding pre-arranged stock trading plan (the “10b5-1 Plan”) in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and the Company’s Stock Trading Policy. Rule 10b5-1 permits individuals who are not in possession of material, non-public information to adopt pre-arranged plans or contracts to buy or sell company stock. The 10b5-1 Plan, executed during the Company’s current open trading window period and in compliance with the Company’s Stock Trading Policy, allows for shares to be sold on the open market at prevailing market prices from time to time prior to the expiration of the 10b5-1 Plan.

Ms. Ngo entered into the 10b5-1 Plan as a part of her personal long-term financial and tax planning strategies. She continues to be subject to the Company’s executive stock ownership guidelines and the sales contemplated by the 10b5-1 Plan will not reduce her stock ownership below the level required by the guidelines. Except as may be required by law, the Company does not undertake to report on specific Rule 10b5-1 pre-planned stock trading plans of Company officers or directors, nor to report modifications or terminations of the aforementioned 10b5-1 Plan or the plans of any other individual. The transactions under the 10b5-1 Plan will be disclosed publicly through Form 4 and/or Form 144 filings with the Securities and Exchange Commission to the extent applicable.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Central Pacific Financial Corp.
	(Registrant)
Date: March 15, 2022	/s/ Glenn K.C. Ching
	Glenn K.C. Ching
	Executive Vice President, Chief Legal Officer and Corporate Secretary

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Cover Cover	Mar. 14, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Mar. 14, 2022
Entity Registrant Name	Central Pacific Financial Corp
Entity Incorporation, State or Country Code	HI
Entity File Number	001-31567
Entity Tax Identification Number	99-0212597
Entity Address, Address Line One	220 South King Street
Entity Address, City or Town	Honolulu
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96813
City Area Code	808
Local Phone Number	544-0500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock, No Par Value
Trading Symbol	CPF
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0000701347
Amendment Flag	false