Form 4: Columbia Financial Executive Reports Stock Transactions
SEC Form 4
Oliver Edward Lewis Jr., SEVP & Head of Commercial Banking at Columbia Financial, Inc., reports stock acquisitions and holdings.
Summary
- Oliver Edward Lewis Jr., a senior executive at Columbia Financial, Inc. (CLBK), filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- On August 9, 2024, Lewis acquired 45.1733 shares of common stock at $16.39 through a stock-based deferral plan.
- Following the reported transaction, Lewis directly owns 25,138 shares of common stock.
- Lewis also indirectly owns shares through various plans, including the ESOP (5,353 shares), SERP (2,457 shares), SIM (470 shares), Stock Award III (14,591 shares), and Stock Award IV (12,672 shares).
- Lewis also holds stock options to purchase 17,647 shares at $17, 57,026 shares at $17.86, 11,579 shares at $15.94 and 8,518 shares at $16.49.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Positives
- The reporting person is actively participating in the company's stock-based deferral plan, indicating confidence in the company's future.
- The executive holds a significant number of shares and stock options, aligning his interests with those of the shareholders.
Industry Context
Form 4 filings are a routine part of regulatory compliance for publicly traded companies, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- Shareholders can use this information to understand the executive's investment in the company.
- Employees may be interested in the details of the stock-based deferral plan and equity incentive plan.
Key Dates
| Date | Description |
|---|---|
| 07/23/2020 | Date of stock options grant with an exercise price of $17. |
| 03/22/2022 | Date of stock options grant with an exercise price of $17.86. |
| 05/01/2024 | 25% of Stock Award III vests in three approximately equal annual installments commencing on this date; Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on this date. |
| 08/09/2024 | Date of the reported stock transaction. |
| 08/13/2024 | Date of the Form 4 filing. |
| 03/06/2025 | 25% of Stock Award IV vests in three approximately equal annual installments commencing on this date; Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on this date. |
| 03/22/2031 | Expiration date of stock options granted on 03/22/2022. |
| 05/01/2033 | Expiration date of stock options granted on 05/01/2024. |
| 03/06/2034 | Expiration date of stock options granted on 03/06/2025. |
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