How are the pension fund units related to Grupo Cibest (CIB) shares?

The institutional voluntary pension fund is unitized and invests primarily in Grupo Cibest common and preferred shares, plus some cash. Each unit represents a proportional interest in the fund’s assets, providing economic exposure to Grupo Cibest rather than direct ownership of specific shares.

Director adds Grupo Cibest (NYSE: CIB) voluntary pension fund units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Grupo Cibest S.A. director Nicolas Zapata Zuluaga reported an acquisition of 354.9000 units in a Grupo Cibest institutional voluntary pension fund on March 20, 2026. The units are held indirectly as “Director Voluntary Pension Fund Units,” bringing his total fund holdings to 3,663.1493 units.

The unitized fund is sponsored by Grupo Cibest and administered by an independent third-party manager, investing primarily in Grupo Cibest common and preferred shares with a small cash position. The footnotes state he has no voting or investment discretion over the fund’s assets, and the instrument has no expiration date. On March 20, 2026, each unit was valued at COP 26,230.53, approximately $7.10 using a COP 3,692.48 per $1 exchange rate.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Zapata Zuluaga Nicolas

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Units in Grupo Cibest Equity Securities Fund	354.9	$7.10	$3K

Holdings After Transaction: Units in Grupo Cibest Equity Securities Fund — 3,663.1493 shares (Indirect, Director Voluntary Pension Fund Units)

Footnotes (2)

F1. The reported securities represent units held by the reporting person in an institutional voluntary pension fund sponsored by the issuer and administered by an independent third-party manager. The fund is unitized and invests primarily in Grupo Cibest common and preferred shares, together with a small amount of cash. The reporting person does not have voting or investment discretion with respect to the assets held by the fund. The reported units were credited pursuant to a voluntary cash contribution to the fund, are not purchased at a fixed or negotiated price, and are payable solely in cash based on the value of the fund on the date of withdrawal. The number of Grupo Cibest shares economically attributable to the units cannot be determined until the date of withdrawal. The price of a uniton March 20,2026 was COP 26,230.53 equal to approximately $7.10 per Unit using a conversion rate of COP 3,692.48 per $1.
F2. The instrument has no expiration date

Key Figures

Units acquired: 354.9000 units Total units after transaction: 3,663.1493 units Unit value in COP: COP 26,230.53 per unit +2 more

5 metrics

Units acquired 354.9000 units Institutional voluntary pension fund, March 20, 2026

Total units after transaction 3,663.1493 units Director’s indirect holdings in the pension fund

Unit value in COP COP 26,230.53 per unit Pension fund unit price on March 20, 2026

Unit value in USD approximately $7.10 per unit Converted using COP 3,692.48 per $1

FX rate used COP 3,692.48 per $1 Conversion rate applied to unit price

Key Terms

institutional voluntary pension fund, unitized, Director Voluntary Pension Fund Units, independent third-party manager, +1 more

5 terms

institutional voluntary pension fund financial

"units held by the reporting person in an institutional voluntary pension fund sponsored by the issuer"

unitized financial

"The fund is unitized and invests primarily in Grupo Cibest common and preferred shares"

Director Voluntary Pension Fund Units financial

"nature_of_ownership": "Director Voluntary Pension Fund Units""

independent third-party manager financial

"sponsored by the issuer and administered by an independent third-party manager"

payable solely in cash financial

"are payable solely in cash based on the value of the fund on the date of withdrawal"

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 04/23/2026 - 05:29 PM

FAQ

What insider transaction did Grupo Cibest (CIB) report for Nicolas Zapata Zuluaga?

Grupo Cibest director Nicolas Zapata Zuluaga reported acquiring 354.9000 units in an institutional voluntary pension fund on March 20, 2026. These units increase his indirect holdings in the fund to 3,663.1493 units, reflecting additional economic exposure to Grupo Cibest securities.

Does the Grupo Cibest (CIB) director control voting or investment decisions for these units?

According to the filing footnote, the director does not have voting or investment discretion over the assets held by the institutional voluntary pension fund. The fund is administered by an independent third-party manager that controls investment decisions and voting of underlying Grupo Cibest shares.

How are the Grupo Cibest (CIB) pension fund units valued and settled?

The reported units were credited pursuant to a voluntary cash contribution and are not purchased at a fixed or negotiated price. They are payable solely in cash based on the fund’s value on the withdrawal date, meaning the holder receives cash equal to the then-current unit value.

What was the value of Grupo Cibest (CIB) pension fund units on March 20, 2026?

On March 20, 2026, each unit in the Grupo Cibest institutional voluntary pension fund was priced at COP 26,230.53. The filing notes this is approximately $7.10 per unit, using an exchange rate of COP 3,692.48 per $1 for that valuation.

Do the Grupo Cibest (CIB) pension fund units have an expiration date?

A footnote in the filing states that the instrument has no expiration date. This means the institutional voluntary pension fund units do not mature on a fixed schedule, and value is realized when the holder chooses to withdraw and receive cash based on the fund’s value.

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).

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^*

Zapata Zuluaga Nicolas

(Last)

(First)

(Middle)

CRA. 48 # 26-85

(Street)

MEDELLIN, COLOMBIA

050001

(City)

(State)

(Zip)

COLOMBIA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Grupo Cibest S.A. [ CIB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Units in Grupo Cibest Equity Securities Fund⁽¹⁾	⁽¹⁾	03/20/2026		A		354.9		⁽¹⁾	⁽²⁾	Common Shares and Preferred Shares	⁽¹⁾	$7.1	3,663.1493	I	Director Voluntary Pension Fund Units⁽¹⁾

Explanation of Responses:

1. The reported securities represent units held by the reporting person in an institutional voluntary pension fund sponsored by the issuer and administered by an independent third-party manager. The fund is unitized and invests primarily in Grupo Cibest common and preferred shares, together with a small amount of cash. The reporting person does not have voting or investment discretion with respect to the assets held by the fund. The reported units were credited pursuant to a voluntary cash contribution to the fund, are not purchased at a fixed or negotiated price, and are payable solely in cash based on the value of the fund on the date of withdrawal. The number of Grupo Cibest shares economically attributable to the units cannot be determined until the date of withdrawal. The price of a uniton March 20,2026 was COP 26,230.53 equal to approximately $7.10 per Unit using a conversion rate of COP 3,692.48 per $1.

2. The instrument has no expiration date

Remarks:

	/s/ Maria Fernanda Valencia Tafur, Attorney-in-Fact for Nicolas Zapata Zuluaga	04/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR