[Form 4] Amalgamated Financial Corp. Insider Trading Activity

Rhea-AI Filing Summary

On 07/26/2025, Amalgamated Financial Corp. (AMAL) EVP & Chief Credit Risk Officer Margaret M. Lanning reported a routine equity-based transaction on Form 4.

• 579 restricted stock units (RSUs) were exercised into common shares (Code M).
• 183 shares were withheld for taxes at $30.06 per share (Code F).
• Net result: insider’s direct holdings rise by ≈396 shares to 13,230.39 shares, which includes 24.39 DRIP shares.
• The RSUs originated from a 07/26/2022 grant of 1,733 units that vest in three annual tranches; after this vesting, no derivative units remain.

No open-market buying or selling was disclosed, and the amount is immaterial versus AMAL’s share count. Still, the filing shows continuing equity alignment by a senior risk officer.

Insights

Securities Analyst

TL;DR: Small RSU vesting adds 396 shares to officer’s stake; minimal valuation impact, slightly positive governance signal.

The filing records a scheduled RSU vesting, not an active purchase. While it increases insider ownership, the amount represents a fraction of a percent of shares outstanding, offering little insight into management’s view on valuation. Tax withholding disposal is standard and does not suggest bearish sentiment. Overall market impact is negligible, but continued equity retention by the Chief Credit Risk Officer modestly aligns incentives with shareholders.

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

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

1. Name and Address of Reporting Person^*

Lanning Margaret Matilda

(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)
	EVP, Chief Credit Risk Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/26/2025

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	07/26/2025		M		579	A	(1)	13,413.39(2)	D
Common Stock	07/26/2025		F		183	D	$30.06	13,230.39	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
Restricted Stocks Units	(1)	07/26/2025		M			579	(3)	(3)	Common Stock	579	$0	0	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of AMAL stock.

2. The total reported in Column 5 of this Form 4 includes 24.39 shares of common stock, acquired by the reporting person under the Company's dividend reimbursement plan, in Q2 of 2025.

3. On July 26, 2022, the reporting person was granted 1,733 restricted stock units, vesting in three annual installments beginning on the first anniversary of the grant date.

Remarks:

	/s/Margaret Matilda Lanning	07/29/2025
	** 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

How many AMAL shares did EVP Margaret Lanning acquire on 07/26/2025?

She converted 579 RSUs into common stock, then netted ≈396 shares after tax withholding.

What price was used for the share withholding in the AMAL Form 4?

183 shares were withheld at $30.06 per share to cover taxes.

How many AMAL shares does the officer now own?

Following the transactions, Lanning directly owns 13,230.39 common shares.

Were any restricted stock units left after the July 2025 vesting?

No. The 579 RSUs exercised represented the final tranche; zero derivative units remain.

Is this AMAL insider transaction an open-market buy or sell?

Neither. It is a scheduled vesting (Code M) with tax withholding (Code F), not an open-market trade.