secwatch.observer — SEC 8-K summary
======================================

Issuer:     CENTRAL PACIFIC FINANCIAL CORP (CPF)
CIK:        0000701347
Form:       8-K
Filed at:   2026-07-02T20:26:03+00:00
Accession:  0000701347-26-000063
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CPFC enters into Change in Control agreements with executive officers, including CEO Arnold D. Martines, June 30, 2026
--------------------------------------------------------------------------------

- CEO Arnold D. Martines eligible for 3x base salary plus 3x average bonus upon qualifying termination after change in control.
- Other executive officers eligible for 2x base salary plus 2x average bonus under similar terms.
- Agreements have three-year initial term, auto-renew annually unless company gives notice.
- Full vesting of equity awards at target performance upon qualifying termination.
- No excise tax gross-up; benefits subject to clawback and regulatory restrictions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/701347/000070134726000063/0000701347-26-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/701347/000070134726000063/cpf-20260630.htm
  HTML page:      https://secwatch.observer/filing/0000701347-26-000063

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer