Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On December 31, 2021, Mr. Kevin Dahlstrom, Executive Vice President and Chief
Strategy Officer, Central Pacific Financial Corp. (the "Company") and Central
Pacific Bank (the "Bank") provided notice of his resignation effective December
31, 2021. Mr. Dahlstrom has left the Company and the Bank to lead a new fintech
initiative being formed in an arrangement with the Bank. In connection with his
resignation, Mr. Dahlstrom will be entitled to receive a cash payment of
$315,000 under the Company's Annual Incentive Compensation Plan for work
performed by Mr. Dahlstrom during the 2021 fiscal year and a discretionary cash
bonus in the amount of $182,000 in recognition of his contributions to the
Company and the Bank. A press release announcing Mr. Dahlstrom's resignation is
attached hereto as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
Exhibit No. Description
99.1 Press release, dated January 3 , 2022
104 Cover Page Interactive Data File (embedded in the cover page formatted
in Inline XBRL)
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