Form 4: Columbia Banking System Executive Reports Stock Disposals and Phantom Stock Acquisition

Frank Namdar, Chief Credit Officer of Columbia Banking System, reports disposing of shares to cover tax obligations and acquiring phantom stock under a deferred compensation plan.

Summary

• Frank Namdar, the Chief Credit Officer of Columbia Banking System, filed a Form 4 detailing changes in beneficial ownership.
• On March 8, 2024, Namdar disposed of 808 shares of common stock at $19.51 per share and another 466 shares at $19.51 per share.
• These disposals appear to be related to covering tax obligations.
• Following these transactions, Namdar directly owns 37,480 shares of common stock.
• Namdar also indirectly owns 3,239 shares through a 401(k).
• On March 11, 2024, Namdar acquired 53 units of deferred compensation phantom stock at a price of $19.43.
• Following this transaction, Namdar indirectly owns 2,921 units of deferred compensation phantom stock.
• These phantom stock units will be paid in cash upon termination of employment, according to the deferred compensation plan.

Sentiment

Score: 6

Explanation: The document reflects routine transactions by an executive. There is no indication of positive or negative sentiment towards the company's prospects.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's future performance.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in the financial industry. It provides transparency into the executive's holdings and transactions in the company's stock.

Key Dates