Form 4: Columbia Financial Inc. Executive Klimowich Reports Stock Transactions
SEC Form 4
John Klimowich, SEVP & Chief Risk Officer of Columbia Financial, Inc., reports acquisition of common stock through a stock-based deferral plan and holdings of stock options and awards.
Summary
- John Klimowich, SEVP & Chief Risk Officer of Columbia Financial, Inc. (CLBK), filed a Form 4 detailing changes in beneficial ownership.
- On August 9, 2024, Klimowich acquired 37.5461 shares of common stock at $16.39 per share through a stock-based deferral plan.
- Following the reported transaction, Klimowich directly owns 59,169 shares of common stock.
- Klimowich also indirectly owns shares through various plans including a Stock-Based Deferral Plan (6,267.3576 shares), a 401(k) (17,130 shares), an ESOP (6,451 shares), a SERP (6,602 shares), a SIM (4,214 shares), Stock Award II (15,159 shares), and Stock Award III (13,165 shares).
- Klimowich holds stock options to purchase 188,235 shares at $15.60, granted on July 23, 2020, and expiring on July 23, 2029.
- He also holds stock options to purchase 12,030 shares at $15.94, vesting in installments from May 1, 2024, and expiring on May 1, 2033.
- Additionally, Klimowich holds stock options to purchase 8,850 shares at $16.49, vesting in installments from March 6, 2025, and expiring on March 6, 2034.
- Stock awards are subject to both time-based and performance-based vesting criteria.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, and the transactions described are typical for executive compensation and deferred compensation plans. Therefore, the sentiment is neutral.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor management's alignment with shareholder interests.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
- Employees participating in the 401(k) and ESOP plans are indirectly impacted by the value of the company's stock.
Key Dates
| Date | Description |
|---|---|
| 07/23/2020 | Date of grant for stock options exercisable at $15.60 |
| 05/01/2024 | First vesting date for stock options exercisable at $15.94 |
| 08/09/2024 | Date of common stock acquisition through stock-based deferral plan |
| 08/13/2024 | Date of Form 4 signature |
| 03/06/2025 | First vesting date for stock options exercisable at $16.49 |
| 07/23/2029 | Expiration date for stock options exercisable at $15.60 |
| 05/01/2033 | Expiration date for stock options exercisable at $15.94 |
| 03/06/2034 | Expiration date for stock options exercisable at $16.49 |
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