[Form 4] Amalgamated Financial Corp. Insider Trading Activity

Rhea-AI Filing Summary

Sam D. Brown, SEVP and Chief Banking Officer of Amalgamated Financial Corp. (AMAL), reported a sale of 1,697 shares of the issuer's common stock on 08/24/2025 at a price of $30.04 per share. The filing indicates the shares were withheld related to the vesting of a restricted stock unit awarded on 08/24/2022. Following the transaction, the reporting person beneficially owns 41,780.67 shares, which includes 158 and 522 shares acquired under the Employee Stock Purchase Program in Q1 and Q2 2025, respectively, and 188.34 shares from the Dividend Reinvestment Program. The form is signed and dated 08/26/2025.

Positive

• Transparent disclosure of the RSU withholding transaction and inclusion of ESPP and DRIP share details
• Reporting person identified with title (SEVP, Chief Banking Officer) and relationship to issuer

Negative

• Disposition of 1,697 shares reduced direct holdings, though the filing attributes this to RSU withholding rather than an open-market sale

Insights

Financial Analyst

TL;DR Insider sold withheld RSU shares upon vesting; remaining beneficial ownership remains sizable and includes ESPP and DRIP shares.

The reported transaction is a routine disposition where 1,697 shares were withheld to satisfy tax/vesting obligations for a restricted stock unit vest on 08/24/2025 at $30.04 per share. Such withholding is common and does not necessarily indicate a change in insider conviction. The filing quantifies remaining beneficial ownership as 41,780.67 shares and explicitly lists recent ESPP and DRIP acquisitions, enhancing transparency. For investors, this is informational rather than materially company-changing.

Corporate Governance Expert

TL;DR Form 4 appears complete and timely, disclosing officer status and the nature of the shares withheld upon RSU vesting.

The document identifies Sam D. Brown as SEVP and Chief Banking Officer and indicates the disposition code and reason (withholding on RSU vesting). The filing includes explanatory footnotes detailing ESPP and DRIP share counts, which supports accurate beneficial-ownership reporting. From a governance perspective, this is a standard compliance filing that documents insider remuneration mechanics rather than signaling governance issues.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Brown Sam D.

(Last) (First) (Middle)

275 7TH AVENUE

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Amalgamated Financial Corp. [ AMAL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEVP, Chief Banking Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/24/2025		F		1,697(1)	D	$30.04	41,780.67(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the shares withheld related to the vesting of a restricted stock unit installment, awarded to the reporting person on August 24, 2022.

2. The amount of Securities Beneficially Owned Following the Reported Transaction includes 158 and 522 shares acquired under the Employee Stock Purchase Program in Q1 and Q2 of 2025, and 188.34 shares acquired through the Dividend Reinvestment Program.

Remarks:

	/s/ Sam Brown	08/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did AMAL insider Sam D. Brown report on Form 4?

The filing reports the withholding of 1,697 shares related to RSU vesting on 08/24/2025, reported at a price of $30.04 per share.

How many shares does Sam D. Brown beneficially own after the reported transaction?

The Form 4 states total beneficial ownership of 41,780.67 shares following the transaction.

Were any additional shares acquired through company programs noted in the filing?

Yes. The beneficial-ownership amount includes 158 and 522 shares from the Employee Stock Purchase Program in Q1 and Q2 2025, and 188.34 shares via the Dividend Reinvestment Program.

What is the reporting person's role at Amalgamated Financial Corp. (AMAL)?

The filer is identified as SEVP, Chief Banking Officer and is marked as an officer and director on the Form 4.

When was the Form 4 signed by the reporting person?

The signature block shows the form was signed by /s/ Sam Brown on 08/26/2025.