Klimowich John 4
4 · Columbia Financial, Inc. · Filed May 5, 2026
Research Summary
AI-generated summary of this filing
Columbia Financial (CLBK) SEVP John Klimowich Forfeits 10,336 Shares
What Happened
- John Klimowich, Senior EVP & Chief Risk Officer of Columbia Financial (CLBK), was involved in three related equity actions on May 1, 2026: a small award/acquisition, the forfeiture of performance shares, and the withholding of shares to cover tax liability. He was credited 35.565 shares (valued at $19.25 each, ~$685), had 10,336 performance-based restricted shares forfeited (disposed to the issuer at $0), and 1,247 shares were surrendered to cover tax obligations (valued at $19.25 each, ~$24,005). These moves are largely administrative (forfeiture due to unmet performance goals and tax withholding), not open-market buying or selling.
Key Details
- Transaction date: 2026-05-01; Form 4 filed 2026-05-05 (timely filing).
- Award/acquisition: 35.565 shares at $19.25, total ~$685 (footnote F1: phantom stock in a rabbi trust under the Stock Based Deferral Plan; will be settled in shares upon distribution).
- Forfeiture/disposition: 10,336 shares forfeited to the issuer at $0 (footnote F2: performance-based restricted stock granted May 1, 2023; 2,067 of that award vested and 10,336 were forfeited based on performance).
- Tax withholding: 1,247 shares surrendered at $19.25 to satisfy tax liability, total ~$24,005 (transaction code F).
- Shares owned after the transactions: not stated in the provided details of this filing.
- Filing timeliness: Filed within the required reporting window (not marked late).
Context
- The 10,336-share movement is a forfeiture tied to unmet performance criteria, not an active sale on the open market — such forfeitures are administrative and do not necessarily reflect the insider’s view of the stock.
- The 1,247-share disposition was a tax-withholding event (common when awards vest); this is a routine administrative disposition rather than a liquidity-driven sale.
- The 35.565-share entry appears to be a deferred/phantom stock credit under the company’s non‑qualified deferral plan and will be settled in shares when distributed.
Insider Transaction Report
Form 4
Klimowich John
SEVP & Chief Risk Officer
Transactions
- Award
Common Stock
[F1]2026-05-01$19.25/sh+35.565$685→ 9,077.7 total(indirect: By Stock-Based Deferral Plan) - Disposition to Issuer
Common Stock
[F2][F3]2026-05-01−10,336→ 64,909 total - Tax Payment
Common Stock
[F3]2026-05-01$19.25/sh−1,247$24,005→ 63,662 total
Holdings
- 17,130(indirect: By 401(k))
Common Stock
- 8,689(indirect: By ESOP)
Common Stock
- 7,627(indirect: By SERP)
Common Stock
- 4,214(indirect: By SIM)
Common Stock
- 10,971(indirect: By Stock Award III)
Common Stock
[F4] - 11,723(indirect: By Stock Award IV)
Common Stock
[F5] - 11,906(indirect: By Stock Award V)
Common Stock
[F6] - 188,235
Stock Options (right to buy)
[F7]Exercise: $15.60From: 2020-07-23Exp: 2029-07-23→ Common Stock (188,235 underlying) - 12,030
Stock Options (right to buy)
[F7]Exercise: $15.94From: 2024-05-01Exp: 2033-05-01→ Common Stock (12,030 underlying) - 8,850
Stock Options (right to buy)
[F8]Exercise: $16.49From: 2025-03-06Exp: 2034-03-06→ Common Stock (8,850 underlying) - 20,310
Stock Options (right to buy)
[F9]Exercise: $16.23From: 2026-03-03Exp: 2035-03-03→ Common Stock (20,310 underlying) - 20,227
Stock Options (right to buy)
[F10]Exercise: $18.28From: 2027-03-02Exp: 2036-03-02→ Common Stock (20,227 underlying)
Footnotes (10)
- [F1]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, a non-qualified stock-based deferral plan. Stock unit interests under the Columbia Bank Stock Based Deferral Plan will be settled in shares of stock upon distribution to the reporting person.
- [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]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, 2,067 shares would vest and 10,336 shares would be forfeited.
- [F3]The number of shares held directly includes certain shares that were previously held by Stock Award and that have subsequently vested.
- [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, Power of Attorney|2026-05-05