Form 4: COLB Director Sells Shares for 401(k) Rollover

Columbia Banking System Director Steven R. Gardner sold 13,725 shares of common stock to meet 401(k) liquidation requirements.

Summary

• Steven R. Gardner, a Director of Columbia Banking System, Inc. (COLB), reported a transaction on January 30, 2026.
• He sold 13,725 shares of COLB common stock at a price of $29.43 per share.
• The sale was conducted to satisfy mandatory liquidation requirements of his self-directed 401(k) plan in connection with a rollover.
• Following this transaction, Mr. Gardner's direct beneficial ownership in his 401(k) is 0 shares.
• He indirectly beneficially owns 570,370 shares of COLB common stock via a family trust.
• A previous reporting error was corrected, clarifying that 232,150 shares were indirectly owned via a family trust, not directly.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a largely neutral event, as the sale was for a specific, non-discretionary personal financial planning purpose (401(k) rollover) rather than a discretionary decision based on company performance or outlook. However, any reduction in insider ownership can be perceived with slight caution.

Positives

• The sale was for a specific, non-discretionary reason (401(k) rollover liquidation), rather than a discretionary sale based on a negative outlook for the company.

Negatives

• An insider sale, even for a specific reason, reduces the director's direct equity stake in the company.

Future Outlook

No forward-looking statements or guidance were provided in this filing.

Industry Context

StockSavvy.ai notes that while insider sales can sometimes signal a lack of confidence, sales driven by personal financial planning events like 401(k) rollovers are generally viewed as less indicative of company-specific issues compared to discretionary sales.

Stakeholder Impact

• Shareholders: A minor reduction in a director's direct ownership, potentially interpreted with slight caution, though the stated reason mitigates significant concern.

Key Dates

Keywords

COLB, Columbia Banking System, insider trading, Form 4, stock sale, director, 401(k) rollover