Form 4: Columbia Financial Officer Acquires Phantom Stock

John Klimowich, SEVP & Chief Risk Officer at Columbia Financial, Inc., reported the acquisition of phantom stock and updated his beneficial ownership of company securities.

Summary

• John Klimowich, SEVP & Chief Risk Officer of Columbia Financial, Inc. (CLBK), reported changes in his beneficial ownership of company securities.
• On January 9, 2026, Klimowich acquired 41.7294 shares of phantom stock at a price of $15.3 per share.
• These phantom shares were purchased on a non-discretionary basis by the trustee of the Bank's rabbi trust for the Columbia Bank Stock Based Deferral Plan.
• Following this transaction, indirect beneficial ownership through the Stock-Based Deferral Plan is 8,182.7185 shares.
• A disposition of 60,769 shares of Common Stock was reported, though specific transaction date and price for this disposition were not provided.
• Klimowich holds various indirect beneficial ownerships through other plans: 17,130 shares via 401(k), 7,620 shares via ESOP, 7,051 shares via SERP, 4,214 shares via SIM, 13,781 shares via Stock Award II, 12,068 shares via Stock Award III, and 11,723 shares via Stock Award IV.
• Several tranches of direct stock options are held, including 188,235 fully vested options exercisable at $15.6, and other options with varying vesting schedules and exercise prices.

Sentiment

Score: 5

Explanation: The filing is a routine Form 4 disclosing an executive's beneficial ownership and a minor acquisition of phantom stock, alongside a disposition of common stock without specific details. It does not contain information that would significantly alter the company's outlook.

Positives

• Acquisition of 41.7294 phantom stock shares at $15.3 by a key executive, John Klimowich, indicating continued alignment with shareholder interests.

Negatives

• A disposition of 60,769 shares of Common Stock was reported, though specific transaction date and price details were not provided, limiting the ability to fully assess the context or implications of this sale.

Future Outlook

NA

Industry Context

NA

Corporate Governance

Stakeholder Impact

• Shareholders: The acquisition of phantom stock by a key executive may be seen as a minor positive signal of management's alignment with shareholder interests. The reported disposition of common stock, without further context, could be interpreted neutrally or slightly negatively depending on its purpose.
• Employees: The various stock-based plans (401(k), ESOP, SERP, SIM, Stock Awards) indicate mechanisms for employee and executive equity participation, which can impact retention and motivation.

Key Dates

Keywords

Columbia Financial, CLBK, Form 4, insider trading, beneficial ownership, stock options, phantom stock, executive compensation, John Klimowich