Klimowich John 4

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.