Form 4: Columbia Financial CFO Dennis E. Gibney Reports Stock Transactions

Dennis E. Gibney, SEVP & Chief Financial Officer of Columbia Financial, Inc., reports the disposition of shares to cover tax obligations and provides an update on his holdings of common stock and stock options.

Summary

• On July 23, 2024, Dennis E. Gibney, the SEVP & Chief Financial Officer of Columbia Financial, Inc. (CLBK), filed a Form 4.
• The filing reports the disposition of 2,795 shares of common stock at a price of $17.71 to cover tax obligations.
• Following the transaction, Gibney directly owns 154,044 shares of common stock.
• Gibney also indirectly owns shares through various plans, including a Stock-Based Deferral Plan (1,953.3245 shares), ESOP (6,451 shares), SERP (9,947 shares), SEP-IRA (10,000 shares), IRA (3,000 shares), and shares held by his spouse (10,000 shares).
• Additionally, he indirectly owns shares through Stock Award II (16,884 shares) and Stock Award III (14,663 shares).
• Gibney also holds stock options for 240,000 shares (exercisable at $15.60), 13,398 shares (exercisable at $15.94), and 9,856 shares (exercisable at $16.49).

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock transactions by a company executive, with no inherently positive or negative sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC for insiders of publicly traded companies, providing transparency into their transactions and holdings.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the change in insider ownership.
• The filing provides transparency to stakeholders regarding executive compensation and stock ownership.

Key Dates