Central Pacific Financial Corp 8-K/A, filed Jan 28, 2022
Central Pacific Financial Corp (CPF)
8-K/A
2022-01-28
For: 2021-10-26
View Original
Added on
April 07, 2026
About this 8-K/A
Central Pacific Financial Corp filed this 8-K/A on January 28, 2022, reporting on events of October 26, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
Amendment No. 1
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices)
(Zip Code)
(808 ) 544-0500
(Registrant’s telephone number, including area code)
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 :
Securities registered pursuant to Section 12(b) of the Act:
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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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
As previously announced, on October 26, 2021, the Board of Directors of Central Pacific Financial Corp. (the “Company”) and Central Pacific Bank (the “Bank”) approved the promotion of Arnold Martines to President and Chief Operating Officer of the Company and the Bank and David Morimoto to Senior Executive Vice President and Chief Financial Officer of the Company and the Bank, both effective as of January 1, 2022. In connection therewith, on January 25, 2022 the Company’s Board of Directors (following approval by the Company’s Compensation Committee) approved the following changes to the compensation for Mr. Martines and Mr. Morimoto as of January 1, 2022. Mr. Martines’ base salary has been set at $475,000. In addition, Mr. Martines is now eligible for an annual incentive compensation plan bonus up to 65% of his annual base salary and a long-term incentive equity grant opportunity at up to 75% of his base salary. Mr. Morimoto’s base salary has been set at $450,000. In addition, Mr. Morimoto is now eligible for an annual incentive compensation plan bonus up to 55% of his base salary and a long-term incentive equity grant opportunity at up to 70% of his base salary.
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: January 28, 2022 | /s/ Glenn C. Ching | ||||
| Glenn C. Ching | |||||
Executive Vice President, Chief Legal Officer and Corporate Secretary | |||||