Form 4: COLB EVP Chief Risk Officer Forfeits Shares

Columbia Banking System's EVP Chief Risk Officer, Andrew H. Ognall, reported forfeiture of 559 shares due to unmet performance targets and disposition of 1,353 shares for tax obligations.

Summary

• Andrew H. Ognall, EVP Chief Risk Officer of Columbia Banking System, Inc. (COLB), reported changes in his beneficial ownership of common stock.
• On January 20, 2026, Ognall forfeited 559 shares of common stock.
• This forfeiture occurred because the issuer's total shareholder return performance target was not met, as per the terms of performance restricted stock units granted on February 21, 2023.
• Also on January 20, 2026, Ognall disposed of 1,353 shares of common stock at a price of $28.35 per share.
• This disposition was to satisfy tax withholding obligations in connection with the vesting of previously issued restricted stock units.
• Following these transactions, Ognall directly owns 72,356 shares and indirectly owns 2,635 shares through a 401(k).

Sentiment

Score: 4

Explanation: The forfeiture of shares due to unmet performance targets is a negative signal regarding the company's total shareholder return performance. However, the disposition for tax withholding is a routine event.

Negatives

• Forfeiture of 559 shares of common stock due to the issuer's total shareholder return performance target not being met.

Risks

• The forfeiture of performance-based restricted stock units indicates that Columbia Banking System, Inc. did not meet its total shareholder return performance target, which could signal underperformance relative to internal goals or market expectations.

Stakeholder Impact

• Shareholders: The unmet performance target for total shareholder return could be a concern, indicating potential underperformance.
• Management/Employees: Executive compensation tied to performance was impacted, reflecting the company's inability to meet specific targets.

Key Dates

Recommendation

The forfeiture of shares due to unmet total shareholder return performance targets is a negative signal, suggesting the company did not meet its internal performance goals. However, this is a single insider transaction report and does not provide a comprehensive view of the company's financial health or future prospects. Investors should consider this information in conjunction with broader financial reports and market analysis before making investment decisions. The tax withholding transaction is routine.

Keywords

Columbia Banking System, COLB, Form 4, Insider Transaction, Share Forfeiture, Restricted Stock Units, Tax Withholding, Executive Compensation, Andrew H. Ognall, Chief Risk Officer