CLBK insider buys 45 phantom shares; now holds 60.8k common, 229k options
Columbia Financial, Inc. (CLBK) – Form 4 insider filing Senior EVP & Chief Risk Officer John Klimowich reported a minor acquisition on 07/25/2025.
Rhea-AI Filing Summary
Columbia Financial, Inc. (CLBK) – Form 4 insider filing
Senior EVP & Chief Risk Officer John Klimowich reported a minor acquisition on 07/25/2025. Via the Columbia Bank Stock-Based Deferral Plan he was credited with 45.3727 phantom stock units at $14.07 each (≈ $0.6 k). Phantom units convert to common shares upon distribution; no open-market activity was disclosed.
Post-transaction ownership
- Direct: 60,769 common shares.
- Indirect: 7,678.8499 phantom units (deferral plan), 17,130 (401-k), 7,620 (ESOP), 7,051 (SERP), 4,214 (SIM) and 37,572 share equivalents from incentive stock awards.
- Derivatives: 229,425 option shares across four grants, strike prices $15.60-$16.49, expiring 2029-2035; 188,235 options are already fully vested.
Positive
- No shares were sold, signaling the executive’s continued long exposure to CLBK.
- Total direct holdings remain sizeable at 60,769 shares, supporting alignment with shareholders.
Negative
- Acquisition size is immaterial (≈ $0.6 k), providing little incremental signal.
- Transaction involves phantom units, not cash-funded open-market purchases, limiting informational value.
Insights
TL;DR: Negligible insider purchase; confirms ongoing alignment but lacks material market impact.
The reported 45-share phantom purchase is immaterial relative to Mr. Klimowich’s 60 k direct shares and 229 k option exposure. There is no indication of open-market buying or selling, so liquidity or valuation implications are minimal. Overall ownership structure—direct, plan-based and derivative—remains steady. Investors may view the absence of sales as modestly reassuring, yet the event does not alter the investment thesis for CLBK.
TL;DR: Routine deferred-compensation allocation, governance-neutral.
This transaction reflects automatic, non-discretionary deferral plan activity rather than a discretionary buy. It satisfies Section 16 reporting requirements, shows no red flags, and maintains existing incentive alignment. Governance stance: neutral.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 45.3727 | $14.07 | $638.39 |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Stock Options (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (8)
- F1. Represents phantom stock purchased, on a non-discretionary basis, by the trustee of the Bank's rabbi trust maintained in connection with the Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan. Stock unit interests under the Columbia Bank Stock Based Deferral Plan will be settled in shares of stock upon distribution to the reporting person.
- F2. Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, 25% of which vest in three approximately equal annual installments commencing on May 1, 2024; and the remaining 75% of which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award.
- F3. Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, 25% of which vest in three approximately equal annual installments commencing on March 6, 2025; and the remaining 75% of which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award.
- F4. Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan, which vest upon achievement of certain specified performance-based vesting criteria, which if achieved, such Awards would vest three years after the date of the Award on March 3, 2028.
- F5. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.
- F6. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on May 1, 2024.
- F7. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on March 6, 2025.
- F8. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on March 3, 2026.
FAQ
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What did CLBK executive John Klimowich purchase?
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