Lewis Oliver Edward Jr 4
4 · Columbia Financial, Inc. · Filed May 5, 2026
Research Summary
AI-generated summary of this filing
Columbia Financial (CLBK) SEVP Lewis Oliver Forfeits Shares, Withholds 1,200
What Happened
- Lewis Oliver Edward Jr., SEVP & Head of Commercial Banking at Columbia Financial (CLBK), had performance-based restricted stock partially vest and partially forfeited on May 1, 2026. The company determined 1,990 shares vested and 9,948 shares were forfeited (disposition to issuer) — those 9,948 shares show a $0 sale value because they were forfeited.
- In connection with the vesting, 1,200 shares were surrendered/withheld to satisfy tax withholding at $19.25 per share, totaling $23,100. These were not open-market sales but withholding to cover tax liability.
Key Details
- Transaction dates: May 1, 2026 (events); Form 4 filed May 5, 2026 (timely filing).
- Forfeiture: 9,948 shares forfeited (Disposition to issuer, code D) — $0 proceeds.
- Tax withholding: 1,200 shares withheld (code F) at $19.25/share = $23,100.
- Vesting outcome: 1,990 shares vested from the May 1, 2023 performance award (per footnote F1).
- Shares owned after transaction: not specified in the provided filing summary.
- Notable footnote: F1 explains these were performance-based awards granted May 1, 2023; vesting depended on performance and the company determined the split of vested vs. forfeited shares.
- Filing timeliness: Filed May 5, 2026; appears timely (filed within SEC Form 4 reporting window).
Context
- This was not an open-market sale or purchase. The 9,948-share transaction is a forfeiture of unearned performance awards, and the 1,200-share transaction is tax withholding to satisfy the reporting person’s tax liability on vested shares.
- Such forfeitures reflect award performance outcomes rather than an insider selling stock for liquidity; tax withholding is a routine administrative action.
Insider Transaction Report
Form 4
Lewis Oliver Edward Jr
SEVP & Head Commercial Banking
Transactions
- Disposition to Issuer
Common Stock
[F1][F2]2026-05-01−9,948→ 30,653 total - Tax Payment
Common Stock
[F2]2026-05-01$19.25/sh−1,200$23,100→ 29,453 total
Holdings
- 4,904.854(indirect: By Stock-Based Deferral Plan)
Common Stock
- 7,591(indirect: By ESOP)
Common Stock
[F3] - 3,414(indirect: By SERP)
Common Stock
[F3] - 681(indirect: By SIM)
Common Stock
- 10,560(indirect: By Stock Award IV)
Common Stock
[F4] - 11,300(indirect: By Stock Award V)
Common Stock
[F5] - 11,772(indirect: Stock Award VI)
Common Stock
[F6] - 17,647
Stock Options (right to buy)
[F7]Exercise: $17.00From: 2020-07-23Exp: 2029-07-23→ Common Stock (17,647 underlying) - 57,026
Stock Options (right to buy)
[F7]Exercise: $17.86From: 2022-03-22Exp: 2031-03-22→ Common Stock (57,026 underlying) - 11,579
Stock Options (right to buy)
[F7]Exercise: $15.94From: 2024-05-01Exp: 2033-05-01→ Common Stock (11,579 underlying) - 8,518
Stock Options (right to buy)
[F8]Exercise: $16.49From: 2025-03-06Exp: 2034-03-06→ Common Stock (8,518 underlying) - 19,576
Stock Options (right to buy)
[F9]Exercise: $16.23From: 2026-03-03Exp: 2035-03-03→ Common Stock (19,576 underlying) - 20,000
Stock Options (right to buy)
[F10]Exercise: $18.28From: 2027-03-02Exp: 2036-03-02→ Common Stock (20,000 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, 1,990 shares would vest and 9,948 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, Power of Attorney|2026-05-05