[Form 4] Amalgamated Financial Corp. Insider Trading Activity

Rhea-AI Filing Summary

Amalgamated Financial Corp. (AMAL) reported insider activity by a director. On 10/30/2025, the director exercised non-qualified stock options for 4,820 shares at $12, 4,220 shares at $13.75, and 3,960 shares at $14.65. Shares were withheld for taxes the same day: 2,340, 2,048, and 1,922 at $27.5575.

On 10/31/2025, the director sold 6,697 shares at a weighted average price of $27.3416, with trades ranging from $27.06 to $27.635. On 11/01/2025, the director received a grant of 2,311 restricted stock units that vested immediately. Following these transactions, the director beneficially owned 19,074 shares directly.

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).

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^*

Kelly Julie

(Last) (First) (Middle)

275 7TH 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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/30/2025

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	10/30/2025		M		4,820	A	$12	21,590	D
Common Stock	10/30/2025		F		2,340	D	$27.5575	19,250	D
Common Stock	10/30/2025		M		4,220	A	$13.75	23,470	D
Common Stock	10/30/2025		F		2,048	D	$27.5575	21,422	D
Common Stock	10/30/2025		M		3,960	A	$14.65	25,382	D
Common Stock	10/30/2025		F		1,922	D	$27.5575	23,460	D
Common Stock	10/31/2025		S		6,697	D	$27.3416(1)	16,763	D
Common Stock	11/01/2025		A		2,311	A	$0	19,074(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
Non-Qualified Stock Option (right to buy)	$12	10/30/2025		M			4,820	01/01/2016	01/01/2026	Common Stock	4,820	$0	0	D
Non-Qualified Stock Option (right to buy)	$13.75	10/30/2025		M			4,220	01/01/2017	01/01/2027	Common Stock	4,220	$0	0	D
Non-Qualified Stock Option (right to buy)	$14.65	10/30/2025		M			3,960	01/01/2018	01/01/2028	Common Stock	3,960	$0	0	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.06 - $27.635 . 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 (1) to this Form 4.

2. The reported transaction involved the reporting person's receipt of a grant of 2,311 restricted stock units. The restricted stock units vest immediately upon grant, in consideration of the Company's termination of the stock option program and the Director's early exercise of all outstanding and vested stock options on October 30, 2025.

Remarks:

	/s/ Julie Kelly	11/03/2025
	** 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 insider transactions were reported for AMAL?

A director exercised options, had tax-withholding share dispositions, sold shares at market, and received 2,311 restricted stock units that vested immediately.

How many AMAL shares did the director sell and at what price?

The director sold 6,697 shares at a weighted average price of $27.3416, with trades from $27.06 to $27.635.

What option exercises did the AMAL director complete?

Exercises on 10/30/2025: 4,820 shares at $12, 4,220 shares at $13.75, and 3,960 shares at $14.65.

Were shares withheld for taxes in the AMAL Form 4?

Yes. Withholding dispositions on 10/30/2025 totaled 2,340, 2,048, and 1,922 shares at $27.5575.

What equity award did the AMAL director receive?

A grant of 2,311 restricted stock units on 11/01/2025 that vested immediately in connection with option program changes and early exercise.

How many AMAL shares does the director own after the transactions?

Beneficial ownership following the reported transactions is 19,074 shares, held directly.