# EDGAR Filing Document

**Accession Number:** 0001724246
**File Stem:** 0001193805-25-001231
**Filing Date:** 2025-8
**Character Count:** 27535
**Document Hash:** 2dcd78fdcbb59061e27612b86951820c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193805-25-001231.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001193805-25-001231

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CENTRAL PACIFIC FINANCIAL CORP
- **CENTRAL INDEX KEY:** 0000701347
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 990212597
- **STATE OF INCORPORATION:** HI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-38206
- **FILM NUMBER:** 251247757

**BUSINESS ADDRESS:**
- **STREET 1:** 220 S KING ST
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96813
- **BUSINESS PHONE:** 8085440500

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 3590
- **CITY:** HONOLULU
- **STATE:** HI
- **ZIP:** 96811

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CPB INC
- **DATE OF NAME CHANGE:** 19920703
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HoldCo Asset Management, LP
- **CENTRAL INDEX KEY:** 0001724246

**ORGANIZATION NAME:**
- **EIN:** 371746035
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** 515 E. LAS OLAS BLVD.
- **STREET 2:** SUITE 1010
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301
- **BUSINESS PHONE:** (954) 433-6853

**MAIL ADDRESS:**
- **STREET 1:** 515 E. LAS OLAS BLVD.
- **STREET 2:** SUITE 1010
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HoldCo Asset Management, L.P.
- **DATE OF NAME CHANGE:** 20171204

## Ex-1

Exhibit 1

**<u>Transactions in the Securities of the Issuer During the Past Sixty Days</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Nature of the Transaction | &nbsp;&nbsp; Amount of Securities<br> Purchased | &nbsp;&nbsp;Price ($) | &nbsp;&nbsp; Date of<br> Purchase |

---

**<u>HOLDCO OPPORTUNITIES FUND V, L.P.</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;54000 | &nbsp;&nbsp;27.4417 | &nbsp;&nbsp;06/24/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;60000 | &nbsp;&nbsp;27.2200 | &nbsp;&nbsp;06/25/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;47000 | &nbsp;&nbsp;27.6000 | &nbsp;&nbsp;06/26/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;95000 | &nbsp;&nbsp;27.8000 | &nbsp;&nbsp;06/27/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;70000 | &nbsp;&nbsp;28.0300 | &nbsp;&nbsp;06/30/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;31000 | &nbsp;&nbsp;28.8000 | &nbsp;&nbsp;07/01/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;29899 | &nbsp;&nbsp;27.3196 | &nbsp;&nbsp;07/29/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;33622 | &nbsp;&nbsp;26.8661 | &nbsp;&nbsp;07/30/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;31704 | &nbsp;&nbsp;26.6563 | &nbsp;&nbsp;07/31/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;33255 | &nbsp;&nbsp;26.1475 | &nbsp;&nbsp;08/01/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;26000 | &nbsp;&nbsp;28.7800 | &nbsp;&nbsp;08/13/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;34700 | &nbsp;&nbsp;28.6420 | &nbsp;&nbsp;08/14/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;33200 | &nbsp;&nbsp;28.0788 | &nbsp;&nbsp;08/15/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;33127 | &nbsp;&nbsp;28.3103 | &nbsp;&nbsp;08/18/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;31400 | &nbsp;&nbsp;28.5475 | &nbsp;&nbsp;08/19/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;32400 | &nbsp;&nbsp;28.5830 | &nbsp;&nbsp;08/20/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;42000 | &nbsp;&nbsp;29.3527 | &nbsp;&nbsp;08/21/2025 |
| &nbsp;&nbsp;Purchase of Common Stock | &nbsp;&nbsp;36714 | &nbsp;&nbsp;30.7107 | &nbsp;&nbsp;08/22/2025 |

---

## Exhibit 99.1

Exhibit 99.1

**<u>Joint Filing Agreement</u>**

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D (including additional amendments thereto) with respect to the shares of Common Stock, No Par Value, of Central Pacific Financial Corp., a Hawaii corporation. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.

---

| | |
|:---|:---|
| VM GP VII LLC | VM GP VII LLC |
| By: | /s/ Michael Zaitzeff |
|  | Michael Zaitzeff, Authorized Signatory |
| Date: | 08/22/2025 |

---

---

| | |
|:---|:---|
| HoldCo Opportunities Fund V, L.P. | HoldCo Opportunities Fund V, L.P. |
| By: | /s/ Michael Zaitzeff |
|  | Michael Zaitzeff, Authorized Signatory |
| Date: | 08/22/2025 |

---

---

| | |
|:---|:---|
| VM GP X LLC | VM GP X LLC |
| By: | /s/ Michael Zaitzeff |
|  | Michael Zaitzeff, Authorized Signatory |
| Date: | 08/22/2025 |

---

---

| | |
|:---|:---|
| HoldCo Asset Management, LP | HoldCo Asset Management, LP |
| By: | /s/ Michael Zaitzeff |
|  | Michael Zaitzeff, Authorized Signatory |
| Date: | 08/22/2025 |

---

---

| | |
|:---|:---|
| VM GP II LLC | VM GP II LLC |
| By: | /s/ Michael Zaitzeff |
|  | Michael Zaitzeff, Authorized Signatory |
| Date: | 08/22/2025 |

---

---

| | |
|:---|:---|
| Zaitzeff Michael | Zaitzeff Michael |
| By: | /s/ Michael Zaitzeff |
|  | Michael Zaitzeff |
| Date: | 08/22/2025 |

---

---

| | |
|:---|:---|
| Vikaran Ghei | Vikaran Ghei |
| By: | /s/ Vikaran Ghei |
|  | Vikaran Ghei |
| Date: | 08/22/2025 |

---

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

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**CENTRAL PACIFIC FINANCIAL CORP**

*(Name of Issuer)*

**Common Stock, No Par Value**

*(Title of Class of Securities)*

**154760409**

*(CUSIP Number)*

**MEAGAN REDA, ESQ.**<br>OLSHAN FROME WOLOSKY LLP<br>1325 Avenue of the Americas<br>New York NY 10019<br>212-451-2300

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**08/15/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **154760409** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**VM GP VII LLC** | Name of reporting person<br>**VM GP VII LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**67596.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**67596.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**67596.00** | Aggregate amount beneficially owned by each reporting person<br>**67596.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.3%** | Percent of class represented by amount in Row (11)<br>**0.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **154760409** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**HoldCo Opportunities Fund V, L.P.** | Name of reporting person<br>**HoldCo Opportunities Fund V, L.P.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1459055.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1459055.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1459055.00** | Aggregate amount beneficially owned by each reporting person<br>**1459055.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.4%** | Percent of class represented by amount in Row (11)<br>**5.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **154760409** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**VM GP X LLC** | Name of reporting person<br>**VM GP X LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1459055.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1459055.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1459055.00** | Aggregate amount beneficially owned by each reporting person<br>**1459055.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.4%** | Percent of class represented by amount in Row (11)<br>**5.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **154760409** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**HoldCo Asset Management, LP** | Name of reporting person<br>**HoldCo Asset Management, LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1459055.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1459055.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1459055.00** | Aggregate amount beneficially owned by each reporting person<br>**1459055.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.4%** | Percent of class represented by amount in Row (11)<br>**5.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

| **CUSIP No.** | **154760409** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**VM GP II LLC** | Name of reporting person<br>**VM GP II LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1459055.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1459055.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1459055.00** | Aggregate amount beneficially owned by each reporting person<br>**1459055.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.4%** | Percent of class represented by amount in Row (11)<br>**5.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **154760409** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Zaitzeff Michael** | Name of reporting person<br>**Zaitzeff Michael** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1526651.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1526651.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1526651.00** | Aggregate amount beneficially owned by each reporting person<br>**1526651.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.7%** | Percent of class represented by amount in Row (11)<br>**5.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **154760409** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Vikaran Ghei** | Name of reporting person<br>**Vikaran Ghei** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**1526651.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**1526651.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1526651.00** | Aggregate amount beneficially owned by each reporting person<br>**1526651.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**5.7%** | Percent of class represented by amount in Row (11)<br>**5.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, No Par Value

**(b) Name of Issuer:**
CENTRAL PACIFIC FINANCIAL CORP

**(c) Address of Issuer's Principal Executive Offices:**
220 S KING ST, HONOLULU, HI, 96813

The following constitutes the Schedule 13D filed by the undersigned (the "Schedule 13D").

**Item 4. Purpose of Transaction**

The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

Certain Reporting Persons have engaged, and expect to continue to engage, with certain members of the Issuer's management team and Board of Directors (the "Board") regarding opportunities to enhance stockholder value.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in communications with management and the Board, engaging in discussions with stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons' investment, including potential business combinations or dispositions involving the Issuer or certain of its businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including board composition), potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer's financial and/or operational performance, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, including swaps and other derivative instruments, or changing their intention with respect to any and all matters referred to in Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The percentages used in this Schedule 13D are based on 26,981,436 Shares outstanding as of July 31, 2025, which is the total number of Shares outstanding as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 5, 2025.

See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons. The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.

**(b)**
See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and the sole or shared power to dispose or to direct the disposition.

**(c)**
Information concerning transactions in the securities of the Issuer effected by certain of the Reporting Persons during the past sixty days is set forth in Exhibit 1 attached hereto and is incorporated herein by reference. Except as otherwise noted, all of the transactions in the securities of the Issuer listed therein were effected in the open market through various brokerage entities.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

On August 22, 2025, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** VM GP VII LLC

**Signature:** /s/ Michael Zaitzeff

**Name/Title:** Michael Zaitzeff, Authorized Signatory

**Date:** 08/22/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** HoldCo Opportunities Fund V, L.P.

**Signature:** /s/ Michael Zaitzeff

**Name/Title:** Michael Zaitzeff, Authorized Signatory

**Date:** 08/22/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** VM GP X LLC

**Signature:** /s/ Michael Zaitzeff

**Name/Title:** Michael Zaitzeff, Authorized Signatory

**Date:** 08/22/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** HoldCo Asset Management, LP

**Signature:** /s/ Michael Zaitzeff

**Name/Title:** Michael Zaitzeff, Authorized Signatory

**Date:** 08/22/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** VM GP II LLC

**Signature:** /s/ Michael Zaitzeff

**Name/Title:** Michael Zaitzeff, Authorized Signatory

**Date:** 08/22/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Zaitzeff Michael

**Signature:** /s/ Michael Zaitzeff

**Name/Title:** Michael Zaitzeff

**Date:** 08/22/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Vikaran Ghei

**Signature:** /s/ Vikaran Ghei

**Name/Title:** Vikaran Ghei

**Date:** 08/22/2025