Gibney Dennis E. 4
4 · Columbia Financial, Inc. · Filed May 5, 2026
Research Summary
AI-generated summary of this filing
Columbia Financial (CLBK) CBO Dennis Gibney Forfeits 11,512 Shares
What Happened
Dennis E. Gibney, 1st Senior EVP and Chief Banking Officer of Columbia Financial (CLBK), had 11,512 performance-based restricted shares forfeited back to the company on May 1, 2026. The disposition to the issuer is recorded at $0.00 per share (total proceeds $0). Per the filing, 2,302 of the performance-based shares did vest and were retained.
Key Details
- Transaction date: 2026-05-01 (reported on Form 4 filed 2026-05-05). Filing appears timely under the two-business-day rule.
- Transaction type/code: Disposition to issuer (D) — forfeiture of 11,512 shares at $0.00.
- Proceeds: $0 (forfeiture, not a market sale).
- Vested portion: 2,302 shares vested from the award granted May 1, 2023; 11,512 shares forfeited per footnote F1.
- Shares owned after transaction: Not specified in the information provided.
- Related notes: Footnote F1 explains the forfeiture resulted from unmet performance objectives for awards granted May 1, 2023. Other footnotes describe general vesting schedules for stock awards and options under the company’s equity plan but do not affect this forfeiture.
Context
This was an administrative forfeiture of unearned, performance-based restricted stock—different from an open-market sale or purchase. Forfeitures generally reflect that award performance targets were not met and do not represent an insider cash transaction or trading signal.
Insider Transaction Report
Form 4
Gibney Dennis E.
1st Sr. EVP, CBO
Transactions
- Disposition to Issuer
Common Stock
[F1][F2]2026-05-01−11,512→ 161,860 total
Holdings
- 1,953.325(indirect: By Stock-Based Deferral Plan)
Common Stock
- 8,689(indirect: By ESOP)
Common Stock
[F3] - 11,403(indirect: By SERP)
Common Stock
[F3] - 10,000(indirect: By IRA)
Common Stock
- 3,000(indirect: By IRA)
Common Stock
- 10,000(indirect: By Spouse)
Common Stock
- 12,219(indirect: By Stock Award III)
Common Stock
[F4] - 13,136(indirect: By Stock Award IV)
Common Stock
[F5] - 31,213(indirect: By Stock Award V)
Common Stock
[F6] - 240,000
Stock Options (right to buy)
[F7]Exercise: $15.60From: 2020-07-23Exp: 2029-07-23→ Common Stock (240,000 underlying) - 13,398
Stock Options (right to buy)
[F7]Exercise: $15.94From: 2024-05-01Exp: 2033-05-01→ Common Stock (13,398 underlying) - 9,856
Stock Options (right to buy)
[F8]Exercise: $16.49From: 2025-03-06Exp: 2034-03-06→ Common Stock (9,856 underlying) - 22,757
Stock Options (right to buy)
[F9]Exercise: $16.23From: 2026-03-03Exp: 2035-03-03→ Common Stock (22,757 underlying) - 53,033
Stock Options (right to buy)
[F10]Exercise: $18.28From: 2027-03-02Exp: 2036-03-02→ Common Stock (53,033 underlying)
Footnotes (10)
- [F1]Represents the forfeiture of performance-based restricted stock granted to the reporting person on May 1, 2023 that were eligible to vest based on certain performance objectives. On May 1, 2026 the Company determined that, based on the Company's performance over the applicable performance period, 2,302 shares would vest and 11,512 shares would be forfeited.
- [F10]Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on March 2, 2027.
- [F2]The number of shares held directly includes certain shares that were previously held by Stock Award and that have subsequently vested.
- [F3]This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to rule 16b-3(c).
- [F4]Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, 25% of which vest in three approximately equal annual installments commencing on March 6, 2025; and the remaining 75% of which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award.
- [F5]Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award on March 3, 2028.
- [F6]Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award on March 2, 2029.
- [F7]Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.
- [F8]Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on March 6, 2025.
- [F9]Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on March 3, 2026.
Signature
/s/ Dennis E. Gibney|2026-05-05