Morimoto David Form 4 CENTRAL PACIFIC FINANCIAL / David Morimoto ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Morimoto David

(Last) (First) (Middle)

220 SOUTH KING ST

(Street)

HONOLULU HI 96813

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CENTRAL PACIFIC FINANCIAL CORP [ CPF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Senior EVP, CFO

3. Date of Earliest Transaction (Month/Day/Year)
02/15/2023

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	02/15/2023		F(2)		286	D	$23.72	1,425	D
Common Stock(3)	02/15/2023		F(2)		662	D	$23.72	4,621	D
Common Stock(4)	02/15/2023		F(2)		881	D	$23.72	6,511	D
Common Stock(4)	02/15/2023		F(2)		598	D	$23.72	3,920	D
Common Stock(5)	02/15/2023		A		7,747	A	$0	7,747	D
Common Stock(6)								1,766	D
Common Stock(7)								1,909	D
Common Stock(8)								859	D
Common Stock								2,377	D
Common Stock(9)								865	D
Common Stock(10)								1,252	D
Common Stock(11)								1,672	D
Common Stock(12)								984	D
Common Stock(13)								869	D
Common Stock(14)								939	D
Common Stock(15)								1,582	D
Common Stock								255	D
Common Stock								4,405	D
Common Stock								2,399	D
Common Stock(16)								455	D
Common Stock(17)								2,586	D
Common Stock(18)								1,949	D
Common Stock(19)								3,575	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 2/18/20 RSU Time-Based Grant. Shares vest evenly over 3 years

2. Shares used for taxes on vested shares

3. 2/15/22 RSU Time-Based Grant. Shares vest evenly over 3 years

4. 2/16/21 RSU Time-Based Grant. Shares vest evenly over 3 years.

5. 2/15/23 RSU Time-Based Grant. Shares vest evenly over 3 years

6. 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.

7. 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.

8. 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.

9. 2/17/15 PSU Grant. Shares to vest on 2/15/18, based on performance criteria results.

10. 2/15/19 RSU Time-Based Grant. Shares vest evenly over 3 years

11. 5/15/20 RSU Time-Based Grant. Shares vest evenly over 3 years.

12. 2/15/18 RSU time-based grant. Shares vest evenly over 3 years.

13. 2/15/17 RSU Time-Based Grant. Shares vest evenly over 3 years

14. 2/16/16 RSU Time-Based Grant. Shares vest equally over 3 years.

15. RSU time-based grant. Shares vest evenly over 3 years

16. RSU time-based grant 2/15/15. Vesting schedule: 243-2/15/16; 242-2/15/17; 243-2/15/18

17. RSU time-based grant 5/15/14. Outstanding balance as of 7/1/15. Vesting schedule: 1,000-5/15/16; 1,000-5/15/17; 1,000-5/15/18; 1,000-5/15/19

18. RSU time-based grant 5/2/11. Outstanding balance as of 7/1/15. 3,710 shares to vest on 5/2/16

19. RSU time-based grant 8/17/15, with 5-year vesting schedule, whereby shares to vest in equal increments over 5-years.

	/s/ Stacey Rocha, attorney-in-fact for David Morimoto	02/17/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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