Form 4: Columbia Financial Officer Acquires Shares

Columbia Financial's SEVP & Chief Risk Officer, John Klimowich, acquired additional common stock through a non-discretionary deferral plan and detailed his extensive equity holdings.

Summary

• John Klimowich, SEVP & Chief Risk Officer of Columbia Financial, Inc. (CLBK), acquired 39.6067 shares of common stock on December 26, 2025, at a price of $16.12 per share.
• This acquisition represents phantom stock purchased on a non-discretionary basis by the trustee of the Bank's rabbi trust, maintained in connection with the Columbia Bank Stock Based Deferral Plan.
• Klimowich's beneficial ownership includes 8,140.9891 shares indirectly through the Stock-Based Deferral Plan, 60,769 shares directly, and additional indirect holdings through various plans: 17,130 shares (401(k)), 7,620 shares (ESOP), 7,051 shares (SERP), 4,214 shares (SIM), 13,781 shares (Stock Award II), 12,068 shares (Stock Award III), and 11,723 shares (Stock Award IV).
• He holds 188,235 fully vested stock options with an exercise price of $15.60, exercisable since July 23, 2020, and expiring on July 23, 2029.
• Additional stock options include 12,030 options at $15.94 (vesting from May 1, 2024), 8,850 options at $16.49 (vesting from March 6, 2025), and 20,310 options at $16.23 (vesting from March 3, 2026), all vesting in approximately equal annual installments.
• Stock Awards II and III vest 25% in three approximately equal annual installments commencing on May 1, 2024, and March 6, 2025, respectively, with the remaining 75% vesting upon achievement of specified performance-based criteria three years after the award date.
• Stock Award IV vests upon achievement of specified performance-based criteria, which if achieved, would vest three years after the award date on March 3, 2028.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive. While the reported acquisition was non-discretionary phantom stock, the overall disclosure of significant equity holdings and unvested awards indicates a strong alignment of the Chief Risk Officer's interests with the company's long-term performance.

Positives

• John Klimowich, SEVP & Chief Risk Officer, increased his beneficial ownership of Columbia Financial, Inc. common stock through an acquisition of 39.6067 phantom shares, aligning his interests with shareholders.
• The officer holds substantial unvested stock options and stock awards, which are designed to incentivize long-term performance and shareholder value creation.

Negatives

• The reported acquisition of common stock was phantom stock purchased on a non-discretionary basis by a trustee, rather than a direct, discretionary open market purchase by the officer, which might be perceived as a weaker signal of personal conviction.

Risks

• The value of the stock awards and options is subject to market fluctuations, and the achievement of performance-based vesting criteria for a significant portion of the awards may not be met, impacting the ultimate value realized by the reporting person.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance or strategic outlook. It solely reports an insider's beneficial ownership changes and holdings.

Industry Context

This filing is a standard disclosure of an insider's equity transactions and holdings, common across all publicly traded companies. It does not provide information directly related to broader industry trends or competitive landscape within the financial sector.

Stakeholder Impact

• Shareholders may view the insider's continued accumulation of equity, even through non-discretionary plans, as a minor positive signal of management's alignment with shareholder interests.
• Employees participating in similar stock-based deferral or incentive plans may see this as a routine part of executive compensation structures.

Next Steps

• Continued vesting of stock options and stock awards according to their respective schedules, with some awards contingent on performance-based criteria.

Key Dates

Keywords

Columbia Financial, CLBK, Form 4, Insider Transaction, Stock Acquisition, Executive Compensation, Stock Options, Beneficial Ownership, Phantom Stock, Equity Incentive Plan