Robert K.W.H. Nobriga
About Robert K.W.H. Nobriga
Robert K.W.H. Nobriga, age 51, has served as an independent director of Central Pacific Financial Corp. since 2024. He is President and CEO of Tradewind Group, Inc., with 31+ years in Hawaii financial services; prior roles include CFO positions at American Savings Bank, The Queen’s Health Systems, and Hawaii National Bank, and CFO/COO at the University of Hawaii’s John A. Burns School of Medicine. He holds a BBA in Accounting from the University of Notre Dame and completed Pacific Coast Banking School; his board-profile highlights expertise in banking, finance/accounting, regulatory/legal, technology/cybersecurity, and Hawaii business .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| American Savings Bank (subsidiary of Hawaiian Electric Industries) | Chief Financial Officer | Not disclosed | CFO experience in regulated financial services |
| The Queen’s Health Systems | Chief Financial Officer | Not disclosed | CFO in regulated healthcare |
| Hawaii National Bank | Chief Financial Officer | Not disclosed | CFO in Hawaii banking |
| University of Hawaii at Manoa – John A. Burns School of Medicine | Chief Financial & Operations Officer | Not disclosed | Led finance and operations for medical school |
| Coopers & Lybrand (legacy PwC) | Professional services – audit | Early career | Audit and advisory experience |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Tradewind Group, Inc. | President & CEO | 2018–present | Oversees investments in real estate, insurance, and technology |
| Atlas Insurance Agency, Inc. | Chairman | 2020–present | Insurance agency leadership |
| Century Computers, Inc. | Chairman | 2018–present | Technology leadership |
| Hoike Networks, Inc. (dba Pacxa) | Chairman | 2018–present | Technology/consulting leadership |
| Island Insurance Company, Limited | Vice Chairman | 2019–present | Insurance leadership |
| NMF Insurance, Inc. (dba IC International) | Vice Chairman | 2019–present | Insurance leadership |
| Tradewind Capital, Inc. | Chairman | 2022–present | Investment/asset management leadership |
| Tradewind Insurance Company, Limited | Vice President & Director | 2019–present | Insurance leadership |
| Kamehameha Schools | Trustee | Not disclosed | Trustee role |
| Bishop Holdings Corporation | Director | Not disclosed | Director role |
| Charles Reed Bishop Trust | Trustee | Not disclosed | Trustee role |
| Haleakala Ranch Corp. | Director; Audit Committee Chair; Investment Committee member | Not disclosed | Committee leadership |
Board Governance
- Independence: Determined independent under NYSE rules (all nominees independent except Martines, Ngo, Yonamine) .
- Committee assignments:
- Risk Committee member (Board Risk Committee met 4 times in 2024) .
- Compensation Committee member; appointed effective January 28, 2025 (Committee met 6 times in 2024) .
- Attendance: In 2024, the Board held 8 regular and 10 special meetings; each incumbent director attended at least 75% of Board and applicable committee meetings. 11 of 12 then-serving directors attended the 2024 annual meeting .
- Board leadership: CEO/Chair combined; Lead Independent Director (Crystal K. Rose) presides over executive sessions of independent directors .
| Governance Item | Detail | Source |
|---|---|---|
| Independence status | Independent director | |
| Board meetings (2024) | 8 regular; 10 special | |
| Risk Committee meetings (2024) | 4 | |
| Compensation Committee meetings (2024) | 6 | |
| Compensation Committee appointment | Effective Jan 28, 2025 | |
| Election support (Apr 24, 2025) | For: 21,933,793; Against/Withheld: 156,729; Broker Non-Votes: 1,409,364 |
Fixed Compensation
| Component | Period | Amount | Detail |
|---|---|---|---|
| Annual Director Retainer (standard) | May 2024–Apr 2025 | $125,000 | Board policy requires 50% equity via stock or DDC Plan |
| Chair Retainer | Not applicable | — | No chair role |
| Fees Earned – Cash | 2024 | $83,347 | Total cash fees in 2024 director comp table |
| Stock Awards (Fair Value) | 2024 | $83,320 | Total stock awards in 2024 director comp table |
| Total Director Compensation | 2024 | $166,667 | Sum of cash and stock awards |
| Prorated fees (onboarding) | Jan–Apr 2024 | $41,667 | 50% paid in CPF stock; details below |
Stock issuance details:
- Jan–Apr 2024: 1,076 shares at $19.35 per share ($20,821 in equity); $20,846 cash .
- May 2024–Apr 2025: 2,937 shares at $21.28 per share ($62,499 in equity); $62,501 cash .
Performance Compensation
| Performance Metric | Applies to Director Pay? | Notes |
|---|---|---|
| PSUs (performance stock units) | No | Director equity is retainer-based; PSUs under 2013 plan vesting noted for Ngo and Yonamine, not for Nobriga |
| Options | No | No option awards disclosed for directors in 2024 |
| Performance goals (ROE, rTSR, ESG) | No | Not used for director compensation; applies to executive PSUs |
Other Directorships & Interlocks
- Public company boards: None for Nobriga over the past five years per director disclosures; exceptions listed do not include Nobriga .
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Notes |
|---|---|---|---|
| Robert K.W.H. Nobriga | 4,013 | ~0.015% | 27,115,848 shares outstanding as of Feb 19, 2025; 4,013/27,115,848 ≈ 0.015% |
| Pledged/Hedged | Not disclosed | — | Company policy prohibits hedging and restricts pledging without prior consent |
| Ownership guidelines | In place | — | Robust stock ownership guidelines for Board members noted; specifics not disclosed |
Related Party Transactions & Conflicts
| Counterparty | Relationship to Nobriga | Nature of Transaction | 2024 Amount | Governance Handling |
|---|---|---|---|---|
| Atlas Insurance Agency, Inc. | Subsidiary of Tradewind; Nobriga is Chairman | Insurance agency services; commissions received | $232,400 | Reviewed under independence standards; immaterial (<1% revenues); Nobriga had no involvement; market terms |
| Island Insurance Company, Limited | Subsidiary of Tradewind; Nobriga is Vice Chairman | Corporate insurance policies | $2,950 | Same as above |
| Tradewind Insurance Company, Limited | Subsidiary of Tradewind; Nobriga is Director | Corporate insurance policies | $14,846 | Same as above |
| Hoike Networks, Inc. (dba Pacxa) | Subsidiary of Tradewind; Nobriga is Chairman | IT technical support; third-party software/services/equipment | $195,372 | Same as above; amounts do not exceed $1,000,000 or 1% of Tradewind revenues |
| Waialae Country Club | CFO is Nobriga’s spouse | Food, beverage, catering for bank events | $26,908 | Nobriga had no involvement; transactions at market terms; immaterial amounts |
- Board determination: These relationships did not impair independence; amounts were below thresholds, on market terms, and Nobriga had no involvement. Audit Committee reviews related person transactions; loans (generally) are made on ordinary-course terms and pass-rated .
Expertise & Qualifications
- Banking; CEO/business owner experience; finance/accounting; Hawaii market knowledge; public company exposure; real estate; regulatory/legal; technology/cybersecurity .
- Education: BBA (Accounting) – University of Notre Dame; Pacific Coast Banking School (University of Washington) .
Governance Assessment
- Strengths: Independent director with deep CFO/CEO experience in regulated industries; active on Risk and Compensation Committees; strong election support in 2025 (21,933,793 for; 156,729 withheld) indicating investor confidence . Board requires 50% of director fees in equity, enhancing alignment .
- Engagement: Board met frequently (8 regular, 10 special); incumbent directors met ≥75% attendance; Risk Committee met 4 times; Compensation Committee met 6 times; Lead Independent Director leads executive sessions, supporting independent oversight .
- Conflicts monitoring: Multiple related-party transactions with Tradewind subsidiaries and an affiliated nonprofit were disclosed with precise amounts; Board concluded immateriality, market terms, and no Nobriga involvement; Audit Committee oversight reduces conflict risk, but continued monitoring is warranted given recurring services across insurance and IT .
- Shareholder signals: Say-on-pay approval in 2025 (For: 21,564,312; Against: 501,346; Abstain: 24,864; broker non-votes 1,409,364) reflects broad support for compensation governance, indirectly reinforcing board credibility .
RED FLAGS (watch items): Ongoing related-party transactions with Tradewind subsidiaries (Atlas, Island Insurance, Tradewind Insurance, Hoike) create perceived conflict potential despite immateriality and governance controls; ensure continued Audit Committee review, competitive bidding, and clear recusals. No pledging or hedging permitted under policy, but individual pledging status is not disclosed—maintain disclosure vigilance .