Form 4: Columbia Financial Executive Klimowich Reports Stock Transactions
SEC Form 4 Filing
John Klimowich, EVP & Chief Risk Officer of Columbia Financial, Inc., reports acquisition of common stock and holdings in derivative securities.
Summary
- John Klimowich, the EVP & Chief Risk Officer of Columbia Financial, Inc. (CLBK), filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the acquisition of 37.0042 shares of common stock at a price of $16.63 on April 5, 2024, through a stock-based deferral plan.
- Klimowich also holds 53,205 shares of common stock directly and has indirect ownership through various plans including a 401(k) (17,130 shares), ESOP (6,451 shares), SERP (6,602 shares), SIM (4,214 shares), Stock Award (7,693 shares), Stock Award II (16,537 shares), and Stock Award III (13,165 shares).
- Additionally, Klimowich possesses stock options for 188,235 shares (exercisable from July 23, 2020, at $15.60), 12,030 shares (exercisable from May 1, 2024, at $15.94), and 8,850 shares (exercisable from March 6, 2025, at $16.49).
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions.
Industry Context
This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in company stock. It allows investors to monitor the actions of key executives and their alignment with company performance.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The details provided are consistent with SEC regulations and reporting requirements.
- Similar filings can be observed across the financial industry for executives at companies like JP Morgan Chase, Bank of America, and Wells Fargo.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the transactions of a key executive.
- It can influence investor sentiment depending on the nature and volume of the transactions.
Key Dates
| Date | Description |
|---|---|
| 07/23/2020 | Commencement date for vesting of stock options (188,235 shares at $15.60). |
| 05/01/2024 | Commencement date for vesting of stock options (12,030 shares at $15.94). |
| 04/05/2024 | Date of common stock acquisition (37.0042 shares at $16.63). |
| 03/06/2025 | Commencement date for vesting of stock options (8,850 shares at $16.49). |
| 03/06/2034 | Expiration date for stock options (8,850 shares at $16.49). |
| 05/01/2033 | Expiration date for stock options (12,030 shares at $15.94). |
| 07/23/2029 | Expiration date for stock options (188,235 shares at $15.60). |
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