Merrywell Christopher 4

What Happened

• Christopher Merrywell, Senior Executive Vice President of Columbia Banking System, Inc. (COLB), had two dispositions reported on Jan 20, 2026. He forfeited 1,560 performance restricted stock units (PRSUs) with no value and had 3,496 shares withheld to cover tax obligations at $28.35 per share, a withholding value of $99,112. These were not open-market sales but administrative actions tied to equity awards and vesting.

Key Details

• Transaction date: 2026-01-20 (reported on Form 4 filed 2026-01-22)
• Dispositions:
  • 1,560 shares disposed to issuer at $0.00 — forfeiture of PRSUs (Footnote F1)
  • 3,496 shares withheld at $28.35 each → $99,112 — shares used to satisfy tax withholding on vested RSUs (Footnote F2)
• Shares owned after transaction: not specified in the filing
• Footnotes:
  • F1: Forfeiture per terms of PRSUs granted Feb 21, 2023 due to issuer TSR performance target not met.
  • F2: Withholding of shares to satisfy tax obligations on vesting of previously issued restricted stock units.
• Filing timeliness: Report filed two days after the transaction date (within the typical 2-business-day requirement), not marked late.

Context

• These actions are administrative (forfeiture and tax-withholding on equity awards), not open-market sales or purchases. Forfeitures reflect unmet performance conditions; withholding is a common way to cover taxes when RSUs vest and does not necessarily signal insider buying or selling intent.