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The Honolulu Advertiser
Posted on: Tuesday, May 25, 2010

CPF acting executive chairman to get $1 annual salary

Advertiser Staff

John C. Dean, the acting executive chairman of Central Pacific Financial Corp. may qualify as one of the best bargains when it comes to top officers of publicly traded companies in Hawai'i.

Newly released salary data for Dean shows he will receive a salary of $1 for his work this year at the company as well as its chief subsidiary, Central Pacific Bank.

Dean also is receiving a grant of 200,000 restricted stock units that vest on Dec. 1. At today's closing price the shares are worth $464,000, though Dean said he plans on donating the some of the shares to charitable causes and others to a venture capital firm.

Dean, 62, also will receive standard employee benefits and a $1,000 a month car allowance.