Form 4: Columbia Financial Executive Reports Stock Transaction
SEC Form 4
Oliver Edward Lewis Jr., SEVP & Head of Commercial Banking at Columbia Financial, Inc., reports a disposition of shares to cover tax obligations related to stock awards.
Summary
- On March 6, 2025, Oliver Edward Lewis Jr., SEVP & Head of Commercial Banking at Columbia Financial, Inc., filed a Form 4.
- The form details a transaction where 393 shares of common stock were disposed of at a price of $15.71 to cover tax obligations.
- Following the transaction, Lewis directly owns 25,801 shares and indirectly owns shares through various plans including a Stock-Based Deferral Plan (4,904.8538 shares), ESOP (5,353 shares), SERP (2,457 shares), SIM (681 shares), Stock Award III (14,591 shares), Stock Award IV (11,616 shares), and Stock Award V (11,300 shares).
- Lewis also holds various stock options with different exercise prices and expiration dates.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects an executive's decision to cover tax obligations, which is a normal occurrence.
- Employees participating in the ESOP, SERP, and other stock-based plans may be indirectly affected by changes in the stock price.
Key Dates
| Date | Description |
|---|---|
| 07/23/2020 | Date of Stock Options (right to buy) with an exercise price of $17 |
| 03/22/2022 | Date of Stock Options (right to buy) with an exercise price of $17.86 |
| 05/01/2024 | 25% of Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan vest in three approximately equal annual installments commencing on this date. Date of Stock Options (right to buy) with an exercise price of $15.94, vesting in three approximately equal annual installments commencing on this date. |
| 03/06/2025 | Date of transaction and 25% of Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan vest in three approximately equal annual installments commencing on this date. Date of Stock Options (right to buy) with an exercise price of $16.49, vesting in three approximately equal annual installments commencing on this date. |
| 03/03/2026 | Date of Stock Options (right to buy) with an exercise price of $16.23, vesting in three approximately equal annual installments commencing on this date. |
| 03/03/2028 | Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award on this date. |
| 07/23/2029 | Expiration Date of Stock Options (right to buy) with an exercise price of $17 |
| 03/22/2031 | Expiration Date of Stock Options (right to buy) with an exercise price of $17.86 |
| 05/01/2033 | Expiration Date of Stock Options (right to buy) with an exercise price of $15.94 |
| 03/06/2034 | Expiration Date of Stock Options (right to buy) with an exercise price of $16.49 |
| 03/03/2035 | Expiration Date of Stock Options (right to buy) with an exercise price of $16.23 |
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