[Form 4] Amalgamated Financial Corp. Insider Trading Activity

Rhea-AI Filing Summary

Sean Searby, EVP Chief Information & Operations Officer of Amalgamated Financial Corp. (AMAL), reported two recent transactions. On 08/24/2025 1,599 shares were withheld to satisfy taxes on a restricted stock unit vesting awarded 08/24/2022, at a reported price of $30.04. On 08/25/2025 the reporting person sold 4,106 shares under a Rule 10b5-1 trading plan adopted 04/29/2025 for a weighted-average price of $29.7673 (sales ranged $29.84–$29.71). Following these transactions the reporting person beneficially owns 12,302.58 shares, which includes 39.4 shares acquired via the dividend reinvestment program.

Positive

• Sale executed under a Rule 10b5-1 trading plan, indicating pre-planned disposition rather than opportunistic insider trading
• Reporting person participated in the dividend reinvestment program, adding 39.4 shares to holdings
• Withholding of 1,599 shares to satisfy RSU tax obligations is a routine compensation settlement

Negative

• Insider sale of 4,106 shares reduced holdings to 12,302.58 shares, which some investors may view as a reduction in insider exposure

Insights

Financial Analyst

TL;DR: Insider sold a modest portion of holdings via a pre-established 10b5-1 plan; remaining stake remains material.

The sale of 4,106 shares at a weighted-average price of $29.7673 appears to be executed under a Rule 10b5-1 plan adopted on 04/29/2025, which typically signals pre-planned dispositions rather than opportunistic trading. The withholding of 1,599 shares to cover taxes on vested RSUs is routine. Post-transaction beneficial ownership of 12,302.58 shares includes fractional shares from dividend reinvestment, indicating ongoing participation in company programs. Overall, these are routine executive equity actions with limited immediate implication for company fundamentals.

Corporate Governance Expert

TL;DR: Transactions are consistent with compensation settlement and a standing 10b5-1 plan; governance processes appear followed.

The reporting person documented withholding to satisfy RSU tax obligations and disclosed sales effected under a documented 10b5-1 plan, with an explicit offer to provide transaction-level price details. The form is properly signed and includes explanatory footnotes about dividend reinvestment and price ranges. From a governance perspective, disclosure completeness and use of a trading plan support procedural compliance with insider-trading rules.

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).

X

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^*

Searby Sean

(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 Info. & Ops. 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		1,599(1)	D	$30.04	16,408.58(2)	D
Common Stock	08/25/2025		S		4,106	D	$29.7673(3)	12,302.58	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 39.4 shares of common stock acquired by the reporting person through the dividend reinvestment program

3. This disposition was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 04/29/2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.84 - $29.71. The reporting person undertakes to provide to AMAL, any security holder of AMAL, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (3) to this Form 4.

Remarks:

	/s/Sean Searby	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

Who filed the Form 4 for AMAL and what is their role?

Sean Searby, EVP Chief Information & Operations Officer, filed the Form 4.

What transactions were reported on the Form 4 for AMAL?

On 08/24/2025 1,599 shares were withheld related to RSU vesting at $30.04. On 08/25/2025 4,106 shares were sold under a 10b5-1 plan at a weighted-average price of $29.7673.

Was the sale part of a pre-established trading plan?

Yes. The disposition of 4,106 shares was effected pursuant to a Rule 10b5-1 trading plan adopted on 04/29/2025.

How many shares does the reporting person own after these transactions?

The reporting person beneficially owns 12,302.58 shares following the reported transactions, including 39.4 shares from dividend reinvestment.

What price range did the sales occur at?

The sales were executed at prices ranging from $29.84 to $29.71; the weighted-average price reported is $29.7673.