Deer Aaron James 4

What Happened
Aaron Deer, EVP & Chief Strategy and Innovation Officer at Columbia Banking System, had two equity-related transactions on January 20, 2026: 325 performance-based restricted stock units were forfeited (disposition to issuer) and 776 shares were withheld to satisfy tax withholding obligations at a per-share value of $28.35 (total value ≈ $22,000). The forfeiture resulted from performance targets not being met; the withholding relates to vesting of previously issued RSUs.

Key Details

• Transaction dates: January 20, 2026; Form 4 filed January 22, 2026 (timely filing).
• Disposition to issuer (Code D): 325 shares @ $0.00 — forfeited under performance RSU terms (Footnote F1).
• Tax withholding (Code F): 776 shares @ $28.35 = $22,000 withheld to cover taxes on RSU vesting (Footnote F2).
• Shares owned after the transactions: Not disclosed in this filing.
• Footnotes: F1 = forfeiture due to total shareholder return target not met; F2 = shares withheld to satisfy withholding obligations.
• These were not open-market sales or purchases — they reflect RSU forfeiture and tax withholding on vesting.

Context
This was a routine administrative outcome of equity awards (forfeiture and tax withholding), not an officer-initiated open-market sale or purchase. Forfeitures occur when performance conditions aren’t met; withholding is common when restricted awards vest and taxes are owed.