Form 4: COLB EVP Forfeits Shares, Sells for Tax

Columbia Banking System's EVP Chief Credit Officer, Frank Namdar, reported the forfeiture of 579 performance-based shares and the sale of 1,652 shares for tax withholding purposes.

Summary

• Frank Namdar, EVP Chief Credit Officer of Columbia Banking System, Inc. (COLB), reported transactions on January 20, 2026.
• He forfeited 579 shares of common stock because the issuer's total shareholder return performance target was not met, related to performance restricted stock units granted on February 21, 2023.
• An additional 1,652 shares of common stock were disposed of at a price of $28.35 to satisfy tax withholding obligations in connection with the vesting of previously issued restricted stock units.
• Following these transactions, Namdar directly owns 31,163 shares and indirectly owns 4,089 shares through a 401(k) plan.

Sentiment

Score: 4

Explanation: The forfeiture of performance-based shares due to the company's failure to meet its total shareholder return target is a negative signal regarding corporate performance. The sale of shares for tax withholding is a routine transaction.

Negatives

• 579 shares of performance restricted stock units were forfeited due to the issuer's total shareholder return performance target not being met.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

This Form 4 filing details routine insider transactions, including a forfeiture of performance-based equity, which is specific to Columbia Banking System's internal performance metrics rather than broader industry trends. The tax-related sale is a common occurrence for executives receiving equity compensation.

Stakeholder Impact

• Shareholders may view the forfeiture of performance-based shares due to unmet targets as a negative indicator of company performance, potentially impacting investor confidence.

Key Dates

Recommendation

The filing indicates an insider's forfeiture of performance-based shares due to the company not meeting its total shareholder return target. While the tax-related sale is routine, the performance miss suggests potential headwinds or underperformance relative to internal goals, warranting a 'hold' rather than a 'buy' until further financial results clarify the company's trajectory.

Keywords

Columbia Banking System, COLB, Frank Namdar, Form 4, insider transaction, stock forfeiture, restricted stock units, tax withholding