CENTRAL PACIFIC FINANCIAL CORP — Form 8-K

Central Pacific Financial Corp. executed two change-in-control agreements effective June 2026: one for Arnold D. Martines (Chairman, President, CEO) providing 3× base salary plus 3× average incentive compensation plus 18 months COBRA; a second template for other executives providing 2× base salary plus 2× average incentive compensation plus 18 months COBRA. Both include full acceleration of unvested equity awards at target performance levels, $25,000 outplacement, and apply if employment terminates without Cause within 90 days before or 2 years after a Change in Control (>50% ownership change, board majority replacement, or ≥50% asset sale). Both expire June 30, 2029 with annual auto-renewals unless non-renewed.