Form 4: Director Machuca Accrues COLB Phantom Stock

Columbia Banking System Director Luis Machuca acquired 630 shares of phantom stock through a deferred compensation plan.

Summary

• Luis Machuca, a Director of Columbia Banking System, Inc. (COLB), acquired 630 shares of deferred compensation phantom stock.
• The transaction occurred on November 5, 2025.
• The phantom stock was accrued at a price of $26.55 per share.
• Following this transaction, Mr. Machuca indirectly beneficially owns 47,117 shares of deferred compensation phantom stock.
• These shares are part of the Registrant's deferred compensation plan and will be paid out upon the end of Mr. Machuca's employment.

Sentiment

Score: 5

Explanation: The filing reports a routine accrual of deferred compensation phantom stock for a director, which is a neutral event reflecting standard compensation practices rather than a significant market signal.

Positives

• The acquisition of phantom stock by a director indicates continued participation in the company's long-term incentive plans, aligning their interests with shareholders.
• The increase in beneficial ownership to 47,117 shares demonstrates a significant stake in the company's future performance.

Future Outlook

The deferred compensation phantom stock will be paid in accordance with the terms of the deferred compensation plan following the end of the reporting person's employment with the Registrant.

Industry Context

This is a routine insider transaction related to a director's deferred compensation plan, which is a common practice in the banking industry to align executive and director interests with long-term company performance. It does not reflect broader industry trends or competitive shifts.

Comparison to Industry Standards

• This transaction represents a standard practice for director compensation within the financial services industry, where deferred equity-based compensation is common. Specific comparable companies or projects are not relevant for a routine individual compensation accrual.

Related Party Transactions

• The transaction involves a director acquiring phantom stock from the company as part of a deferred compensation plan, which is a standard related-party compensation arrangement.

Stakeholder Impact

• Shareholders: The transaction aligns the director's long-term interests with shareholder value through equity-based compensation.
• Employees: No direct impact on general employees is indicated.
• Management: The transaction is part of the compensation structure for a director.

Next Steps

• The deferred compensation phantom stock will be paid out following the end of the reporting person's employment with the Registrant.

Key Dates

Keywords

Columbia Banking System, COLB, Luis Machuca, Director, Form 4, Insider Transaction, Phantom Stock, Deferred Compensation, Equity Compensation