Lewis Oliver Edward Jr 4

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.