[Form 4] Amalgamated Financial Corp. Insider Trading Activity

Rhea-AI Filing Summary

Mandy Tenner, EVP and Chief Legal Officer of Amalgamated Financial Corp. (AMAL), reported receiving 12,773 restricted stock units (RSUs) on 09/01/2025. The RSUs were granted at no cash price and represent contingent rights to receive one share of AMAL common stock per unit.

The RSUs vest in three annual installments beginning on the first anniversary of the grant date. Following this award, the reporting person beneficially owns 24,225.13 shares (direct ownership reported). The Form 4 was signed on 09/03/2025.

Insights

Securities Analyst

TL;DR: Routine executive equity grant for retention; no cash purchase and time-based vesting reduces immediate dilution risk.

The filing documents a standard restricted stock unit award to a senior executive, with 12,773 RSUs and a three-year annual vesting schedule. This is consistent with typical compensation practices to align executive incentives with shareholder outcomes. The award was granted at $0 exercise price and is structured as time-vested RSUs, which generally ties retention to future performance without immediate share issuance. The change increases reported beneficial ownership to 24,225.13 shares, reported as direct ownership.

Corporate Governance Expert

TL;DR: Governance-wise this is a routine grant that reinforces retention; disclosures appear complete and timely.

The Form 4 provides required disclosure: grant date, amount, vesting terms, and resulting beneficial ownership. Vesting in three annual installments beginning one year from grant is a common practice to promote multi-year retention. The form is signed within days of the transaction, meeting timely reporting expectations under Section 16.

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

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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).

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^*

Tenner Mandy

(Last) (First) (Middle)

275 SEVENTH AVE

(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 Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025

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	09/01/2025		A		12,773(1)	A	$0	24,225.13	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 restricted stock units awarded to the reporting person on September 1, 2025. The restricted stock units vest in three annual installments beginning on the first anniversary of the grant date. Each restricted stock unit represents a contingent right to receive one share of AMAL stock.

Remarks:

	/s/ Mandy Tenner	09/03/2025
	** 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 did Mandy Tenner report on Form 4 for AMAL?

The report discloses receipt of 12,773 restricted stock units (RSUs) on 09/01/2025, granted at $0, and filed on 09/03/2025.

How do the RSUs granted to AMAL's EVP vest?

The RSUs vest in three annual installments beginning on the first anniversary of the grant date.

How many AMAL shares does the reporting person own after the grant?

The Form 4 reports 24,225.13 shares beneficially owned following the reported transaction.

Was the RSU grant purchased or granted for free?

The transaction shows a reported price of $0, indicating the RSUs were granted rather than purchased.

What is the reporting person’s role at AMAL?

Mandy Tenner is reported as an Officer with the title EVP, Chief Legal Officer.

When was the Form 4 signed?

The Form 4 bears a signature date of 09/03/2025.