Columbia Financial (NASDAQ: CLBK) exec reports tax withholding, forfeiture
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Columbia Financial, Inc. executive Lewis Oliver Edward Jr., SEVP & Head of Commercial Banking, reported routine equity compensation adjustments. On May 1, 2026, the company determined that, from a performance-based restricted stock grant made on May 1, 2023, 1,990 shares would vest and 9,948 shares would be forfeited, recorded as a disposition to the issuer.
The filing also shows a tax-withholding disposition of 1,200 shares of common stock at $19.25 per share. A footnote states the form reflects increases in beneficial ownership from exempt acquisitions under Rule 16b-3(c). Edward continues to hold indirect interests through stock awards and plans, as well as multiple stock option grants, including options on 57,026 shares at an exercise price of $17.86 expiring on March 22, 2031 and options on 20,000 shares at $18.28 expiring on March 2, 2036.
Positive
- None.
Negative
- None.
Insights
Routine performance-based forfeiture and tax withholding; remaining equity stake stays substantial.
Lewis Oliver Edward Jr. had a performance-based restricted stock award where, as of May 1, 2026, only 1,990 shares met the performance goals while 9,948 shares were forfeited back to the issuer. This aligns the award directly with disclosed performance objectives rather than indicating discretionary selling.
The Form 4 also shows a tax-withholding disposition of 1,200 shares at $19.25 per share, a mechanistic step to cover obligations, not an open-market sale. Footnotes note exempt acquisitions under Rule 16b-3(c), and the derivative summary lists sizeable stock option positions, including grants exercisable at $17.86 and $18.28 through 2031–2036. Overall, this looks like a routine update to compensation-driven holdings rather than a directional bet on the stock.
Insider Trade Summary
15 transactions reported
Mixed
15 txns
Insider
Lewis Oliver Edward Jr
Role
SEVP & Head Commercial Banking
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 9,948 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,200 | $19.25 | $23K |
| 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 | 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 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 30,653 shares (Direct, null);
Stock Options (right to buy) — 17,647 shares (Direct, null);
Common Stock — 4,904.854 shares (Indirect, By Stock-Based Deferral Plan)
Footnotes (1)
- Represents the forfeiture of performance-based restricted stock granted to the reporting person on May 1, 2023 that were eligible to vest based on certain performance objectives. On May 1, 2026 the Company determined that, based on the Company's performance over the applicable performance period, 1,990 shares would vest and 9,948 shares would be forfeited. The number of shares held directly includes certain shares that were previously held by Stock Award and that have subsequently vested. This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to rule 16b-3(c). 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. 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. 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 2, 2029. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable. 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. 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. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three approximately equal annual installments commencing on March 2, 2027.
Key Figures
Forfeited performance shares: 9,948 shares
Vested performance shares: 1,990 shares
Tax-withholding shares: 1,200 shares at $19.25
+4 more
7 metrics
Forfeited performance shares
9,948 shares
Performance-based restricted stock forfeited as of May 1, 2026
Vested performance shares
1,990 shares
Performance-based restricted stock that vested from May 1, 2023 grant
Tax-withholding shares
1,200 shares at $19.25
Common stock withheld to cover obligations on May 1, 2026
Direct common shares after F-code entry
29,453 shares
Total direct common stock reported following the tax-withholding disposition
Stock options expiring 2031
57,026 underlying shares at $17.86
Stock Options (right to buy) on common stock, expiration March 22, 2031
Stock options expiring 2036
20,000 underlying shares at $18.28
Stock Options (right to buy) on common stock, expiration March 2, 2036
Indirect holding Stock Award VI
11,772 shares
Common stock held indirectly via Stock Award VI as of May 1, 2026
Key Terms
performance-based restricted stock, Rule 16b-3(c), Stock Options (right to buy), Equity Incentive Plan, +1 more
5 terms
performance-based restricted stock financial
"Represents the forfeiture of performance-based restricted stock granted to the reporting person on May 1, 2023"
Shares granted to employees or executives that are held back and only become actual, tradable stock if the company meets predefined performance targets; until those goals are met the shares cannot be sold. Think of it like a bonus held in escrow that’s released only when specific results are achieved — investors watch these awards because they tie management pay to company outcomes, can dilute existing shareholders when released, and signal how confident or incentivized insiders are to meet growth or profitability goals.
Rule 16b-3(c) regulatory
"This form reflects increases in beneficial ownership resulting from exempt acquisitions pursuant to rule 16b-3(c)."
An SEC rule that lets corporate insiders avoid automatic "short‑swing" profit recovery when they buy or sell their company’s stock under a pre‑approved, written plan that meets specific conditions. For investors, it matters because it clarifies when insider trades are treated as routine, reducing legal uncertainty and helping distinguish trades made for ordinary compensation or pre‑planned reasons from those that might signal opportunistic or timely insider advantage.
Stock Options (right to buy) financial
"Stock Options (right to buy) granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"
Equity Incentive Plan financial
"granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
FAQ
What did CLBK executive Lewis Oliver Edward Jr. report in this Form 4?
He reported equity compensation changes, including a performance-based restricted stock award where 1,990 shares vested and 9,948 shares were forfeited, plus a tax-withholding disposition of 1,200 common shares. The filing also updates his indirect holdings and stock option positions.
What tax-withholding transaction did the CLBK executive disclose?
He disclosed a tax-withholding disposition of 1,200 shares of Columbia Financial common stock at $19.25 per share. This type of F-code transaction reflects shares withheld to pay exercise price or tax liabilities, rather than an open-market sale initiated by the executive.
Does the Columbia Financial executive still hold stock options after this Form 4?
Yes. The derivative summary lists multiple stock option grants on Columbia Financial common stock, including 57,026 underlying shares at a $17.86 exercise price expiring March 22, 2031 and 20,000 underlying shares at $18.28 expiring March 2, 2036, all reported as direct holdings.
What is the nature of the performance-based restricted stock mentioned for CLBK?
The performance-based restricted stock was granted under Columbia Financial’s 2019 Equity Incentive Plan. The award could vest based on specified performance objectives over a set period, with the company determining that 1,990 shares vested and 9,948 shares were forfeited as of May 1, 2026.
How does Rule 16b-3(c) affect this Columbia Financial Form 4 filing?
A footnote explains the form reflects increases in beneficial ownership from exempt acquisitions under Rule 16b-3(c). This rule generally allows certain issuer-approved, plan-based grants or awards to be exempt from short-swing profit rules, so these changes are treated as administrative equity compensation events.