Jason R. Fujimoto
About Jason R. Fujimoto
Independent director at Central Pacific Financial Corp. (CPF) since 2023; age 44. He is President and CEO of Hawaii Planing Mill, Ltd. (HPM Building Supply), previously serving as COO (2013–2018) and CFO (2010–2012). At CPF, he serves on the Audit and Compensation Committees and is designated an “audit committee financial expert.” Education: B.S. in Economics (Wharton), concentrations in Corporate Finance and Strategic Management, minor in Psychology. Beneficial ownership: 8,071 CPF shares; less than 1% of outstanding shares. Independence: the Board classifies Fujimoto as independent under NYSE rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Hawaii Planing Mill, Ltd. (HPM Building Supply) | President & CEO | Jan 2019–present | Leads multi-island building supply operations; finance and operations background enhances Audit oversight |
| Hawaii Planing Mill, Ltd. | Chief Operating Officer | Jan 2013–Dec 2018 | Operational leadership |
| Hawaii Planing Mill, Ltd. | Chief Financial Officer | 2010–2012 | Financial management |
| Hawaii Planing Mill, Ltd. | Board Director & Audit Committee | Since Mar 2009 | Audit governance experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Holomua Collective | Director | Not disclosed | Community/economic development |
| Hawaii Executive Collaborative | Member | Not disclosed | Business leadership network |
| Hawaii Business Roundtable | Member | Not disclosed | Business policy forum |
| Univ. of Hawaii at Hilo Chancellor’s Community Advisory Board | Member | Not disclosed | Higher education advisory |
| U.S. Army Garrison Pohakuloa Training Area Commander’s Advisory Council | Member | Not disclosed | Community liaison |
| Hardware Group Association; DoItBest Eagles Conference; BIG Group | Member | Not disclosed | Industry affiliations |
Board Governance
- Committee assignments: Audit Committee member; Compensation Committee member; no chair roles. He is designated an Audit Committee Financial Expert; Audit Committee held 6 meetings in 2024 (with multiple private sessions), and Compensation Committee held 6 meetings in 2024.
- Independence: Board deems him independent; 9 of 12 CPF directors are independent. Lead Independent Director: Crystal K. Rose.
- Attendance: The Board held 8 regular and 10 special meetings in 2024; each incumbent director attended at least 75% of aggregate Board and committee meetings; 11 of the then-serving 12 directors attended last year’s annual meeting.
Fixed Compensation
| Component | 2024 Detail | Amount/Units | Notes |
|---|---|---|---|
| Annual director retainer (total) | May 2024–Apr 2025 cycle | $125,000 | CPF requires 50% of fees be paid in equity |
| Cash portion | Fees earned or paid in cash | $62,501 | Half of total retainer |
| Equity portion | Stock award shares | 2,937 shares at $21.28 FMV ($62,499) | Issued under 2023 Stock Compensation Plan |
| Committee chair fees | Not applicable | $0 | Fujimoto is not a chair |
| Other director fees | Meeting fees | Not disclosed (none indicated) | CPF uses retainers; no per-meeting fees disclosed |
| Deferred Compensation election | Elected >50% equity? | None (no director elected >50%) | DDC Plan available; equity often via stock or DDC credits |
Performance Compensation
| Feature | Disclosure | Detail |
|---|---|---|
| Performance-based pay for directors | Not disclosed/none indicated | Director pay is retainer-based; equity is part of retainer; no PSU/option program for non-employee directors disclosed |
| Options | Not disclosed/none indicated | Director compensation table shows cash and stock awards only |
Other Directorships & Interlocks
| Company | Ticker | Role | Interlock/Conflict Note |
|---|---|---|---|
| None (public company boards) | — | — | Proxy lists current public company directorships for other directors; Fujimoto not listed with any public company directorships. |
| HPM Building Supply (private) | — | President & CEO; Director & Audit Committee member | No CPF-related transactions disclosed involving HPM. |
Expertise & Qualifications
- Audit/finance expertise: Former CFO; designated Audit Committee Financial Expert at CPF.
- Operations leadership: Former COO; current CEO of multi-island building supply firm.
- Education: Wharton B.S. in Economics; corporate finance/strategy.
- Geographic diversity: Resides on Hawaii Island; adds geographic perspective to CPF Board.
Equity Ownership
| Metric | Value | As of/Source |
|---|---|---|
| Total beneficial ownership (shares) | 8,071 shares (direct) | Record date Feb 19, 2025 |
| Ownership as % of shares outstanding | Less than 1% (star notation) | Shares outstanding: 27,115,848 |
| Vested vs unvested | Not disclosed | — |
| Options (exercisable/unexercisable) | Not disclosed (none indicated) | — |
| Shares pledged as collateral | Not disclosed; CPF policy limits pledging without legal consent | — |
| Hedging policy | Hedging prohibited for directors and employees | — |
| Stock ownership guidelines (Board) | “Robust stock ownership guidelines” applicable to Board members; specific multiples not disclosed | — |
Governance Assessment
- Independence and alignment: Independent director with Audit and Compensation roles; equity retainer mandates 50% in stock, improving alignment. Beneficial ownership at 8,071 shares and annual receipt of 2,937 shares in 2024 supports “skin-in-the-game.”
- Committee effectiveness: Audit Committee financial expert designation; Audit met 6 times with extensive private sessions; Compensation Committee met 6 times and uses an independent consultant (Pay Governance) with no conflicts, indicating strong process rigor.
- Attendance and engagement: Board and committees met frequently; incumbents met at least the 75% attendance threshold; no attendance red flags disclosed for Fujimoto.
- Conflicts/related-party exposure: Proxy details multiple related-party ordinary-course relationships for other directors; none disclosed involving Fujimoto or HPM; Audit Committee oversees related party transactions via formal policy.
- Risk indicators: CPF prohibits hedging and restricts pledging; robust Codes of Conduct and whistleblower protections; no delinquent Section 16 filings in 2024; no Fujimoto-specific legal proceedings disclosed.
- Overall signal: Governance profile is supportive of investor confidence—independent status, finance expertise, active committees, and equity-based retainer. No identified conflicts or pay anomalies tied to Fujimoto.