Form 4: Columbia Banking System Executive Chairman Reports Changes in Beneficial Ownership

Cort L. O'Haver, Executive Chairman of Columbia Banking System, reports changes in beneficial ownership of common stock due to tax withholding and an exempt transfer related to a divorce settlement.

Summary

• Cort L. O'Haver, the Executive Chairman of Columbia Banking System, Inc. (COLB), filed a Form 4 with the SEC.
• The filing reports changes in his beneficial ownership of the company's common stock on April 19, 2024.
• These changes are due to the disposition of shares to cover tax obligations and an exempt transfer pursuant to a divorce settlement.
• Specifically, 21,655 shares were disposed of at a price of $18.31 per share for tax withholding, resulting in a revised holding of 426,946 shares.
• An additional 5,170 shares were disposed of at $18.31 per share, further reducing his holdings to 421,776 shares.
• The report also notes an adjustment to the reporting person's ownership total to reflect exempt transfers pursuant to a Stipulated General Judgment of Dissolution of Marriage.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider transactions.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates changes in the Executive Chairman's holdings, which can be of interest to investors.

Stakeholder Impact

• Shareholders may be interested in the changes in beneficial ownership reported by the Executive Chairman.

Key Dates