Central Pacific Financial Corp. (NYSE:CPF) Files An 8-K Other Events
ITEM 8.01. OTHER EVENTS
Effective March 14, 2019, John C. Dean, Director of Central Pacific Financial Corp. (the “Company”), 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. to the 10b5-1 Plan, up to 50,000 shares of the Company’s common stock held by Mr. Dean may be sold on a periodic basis from March 29, 2019 through March 2, 2020.
The 10b5-1 Plan was established while it was permissible for executive officers of the Company to purchase and sell securities of the Company, and at a time when Mr. Dean was not in possession of material, non-public information about the Company. Stock transactions executed to the 10b5-1 Plan will be disclosed publicly through the appropriate filings with the Securities and Exchange Commission.
About Central Pacific Financial Corp. (NYSE:CPF)
Central Pacific Financial Corp. serves as the bank holding company for its bank subsidiary, Central Pacific Bank (the bank). The Company’s segments include Banking Operations, Treasury and All Others. The Banking Operations segment includes construction and commercial real estate lending, commercial lending, residential mortgage lending, consumer lending, trust services, retail brokerage services, and the Company’s retail branch offices, which provide a range of deposit and loan products, as well as various other banking services. The Treasury segment is responsible for managing the Company’s investment securities portfolio and wholesale funding activities. The All Others segment includes activities, such as electronic banking, data processing and management of bank owned properties. The Company provides an array of loan products, including residential mortgage loans commercial and consumer loans and lines of credit commercial real estate loans and construction loans.