[Form 4] Amalgamated Financial Corp. Insider Trading Activity

Rhea-AI Filing Summary

Insider grant of restricted stock units to Amalgamated Financial Corp. officer — Sean Searby, EVP Chief Information & Ops Officer, was awarded 14,538 restricted stock units on 09/01/2025. Each unit converts to one share if vested. The RSUs vest in three annual installments beginning on the first anniversary of the grant, and the reported acquisition was coded as “A” (acquisition) with a reported price of $0. Following the grant, the report lists 23,328.58 shares as the amount beneficially owned by the reporting person. The filing is signed by Sean Searby on 09/03/2025.

Positive

• Retention-focused compensation: 14,538 RSUs vesting over three years aligns executive incentives with long-term performance

Negative

• Potential dilution: 14,538 additional contingent shares could increase share count if fully vested (amount of ownership post-grant listed as 23,328.58)

Insights

Financial Analyst

TL;DR: Routine executive equity grant; modest investor impact but supports retention.

The Form 4 discloses a grant of 14,538 restricted stock units to the companys EVP of Information & Operations, recorded as an acquisition at $0. The RSUs vest over three years beginning one year from grant, which aligns compensation with future performance and retention. The filing shows total beneficial ownership of 23,328.58 shares after the grant. There are no cash proceeds or option exercises reported, and no derivative instruments disclosed, so immediate cashflow or dilution impacts appear limited based on the data provided.

Corporate Governance Expert

TL;DR: Standard restricted stock unit award consistent with executive compensation practices.

The disclosure indicates a time-based RSU award with three annual vesting installments beginning on the first anniversary. This structure is a common retention tool and suggests alignment of the officers interests with shareholder outcomes over multiple years. The filing does not disclose performance-based conditions or accelerated vesting, and no amendments or rule 10b5-1 indicators are checked, so governance implications are routine rather than exceptional based on the document alone.

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^*

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)
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		14,538(1)	A	$0	23,328.58	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 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/Sean Searby	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 AMAL insider Sean Searby acquire on 09/01/2025?

He was awarded 14,538 restricted stock units (RSUs) on 09/01/2025; each RSU is a contingent right to one share of AMAL stock.

When do the RSUs awarded to Sean Searby vest?

The RSUs vest in three annual installments beginning on the first anniversary of the September 1, 2025 grant date.

What price was reported for the RSU acquisition on the Form 4?

The transaction is reported with a price of $0, consistent with a grant of restricted stock units rather than a cash purchase.

How many AMAL shares does Sean Searby beneficially own after the grant?

The Form 4 reports 23,328.58 shares as the amount of securities beneficially owned following the reported transaction(s).

Does the Form 4 show any derivative transactions by the reporting person?

No. Table II (derivative securities) contains no entries in this filing.