Columbia Financial (CLBK) Form 4: Officer reports purchase and option holdings

Rhea-AI Filing Summary

John Klimowich, SEVP & Chief Risk Officer of Columbia Financial, Inc. (CLBK) reported transactions dated 09/05/2025 on a Form 4. The filing shows a non-derivative acquisition on 09/05/2025 of 42.5356 shares at $15.01. The table lists various categories of beneficial ownership following the reported transactions, including 7,807.5331 shares held indirectly and other plan-based and award-based indirect holdings (for example, 60,769, 17,130, 7,620, 7,051, 4,214, 13,781, 12,068, 11,723). Derivative holdings show stock options totaling 229,425 options across four option grants with exercise prices of $15.60, $15.94, $16.49, and $16.23, with expiration dates through 2035.

Positive

• Detailed disclosure of indirect holdings across multiple plans and award tranches provides transparency
• Clear vesting and settlement explanations for awards and options are included in the explanatory remarks
• Derivative positions disclosed with exercise prices and expiration dates (2029–2035)

Negative

• Form shows a disposal entry of 60,769 shares (marked 'D') without contextual explanation in the body of the Form
• Some numeric entries include fractional formats (e.g., 7,807.5331, 42.5356) that may require reconciliation with broker/share records

Insights

Securities Analyst

TL;DR: Insider acquired a small number of shares and continues to hold substantial option positions and multiple plan-based indirect holdings.

The Form 4 documents a purchase of 42.5356 shares at $15.01 on 09/05/2025 and enumerates numerous indirect holdings tied to retirement, deferral and award plans. The filing also discloses four series of outstanding stock options totaling 229,425 options with exercise prices from $15.60 to $16.49 and expirations ranging from 2029 to 2035. All statements derive directly from the Form 4; the filing includes explanatory notes about plan settlement and vesting schedules for awards and options.

Corporate Governance Expert

TL;DR: Disclosure is consistent with a director/officer reporting routine equity awards and plan-based holdings, with clear vesting and settlement notes.

The Form 4 identifies the reporting person as SEVP & Chief Risk Officer and provides detail on indirect beneficial ownership via a rabbi trust, 401(k), ESOP, SERP, SIM and multiple stock award tranches. Vesting schedules and settlement mechanics for awards and options are explicitly described in the filing's explanatory remarks. The signature block shows the form was signed by a holder of power of attorney on 09/09/2025.

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
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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^*

Klimowich John

(Last) (First) (Middle)

19-01 ROUTE 208 NORTH

(Street)

FAIR LAWN NJ 07410

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Columbia Financial, Inc. [ CLBK ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEVP & Chief Risk Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025

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	09/05/2025		A		42.5356(1)	A	$15.01	7,807.5331	I	By Stock-Based Deferral Plan
Common Stock								60,769	D
Common Stock								17,130	I	By 401(k)
Common Stock								7,620	I	By ESOP
Common Stock								7,051	I	By SERP
Common Stock								4,214	I	By SIM
Common Stock								13,781	I	By Stock Award II(2)
Common Stock								12,068	I	By Stock Award III(3)
Common Stock								11,723	I	By Stock Award IV(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (right to buy)	$15.6							07/23/2020(5)	07/23/2029	Common Stock	188,235		188,235	D
Stock Options (right to buy)	$15.94							05/01/2024(6)	05/01/2033	Common Stock	12,030		12,030	D
Stock Options (right to buy)	$16.49							03/06/2025(7)	03/06/2034	Common Stock	8,850		8,850	D
Stock Options (right to buy)	$16.23							03/03/2026(8)	03/03/2035	Common Stock	20,310		20,310	D

Explanation of Responses:

1. 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.

2. 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.

3. 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.

4. 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.

5. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.

6. 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.

7. 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.

8. 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.

Remarks:

	/s/ Dennis E. Gibney, Power of Attorney	09/09/2025
	** 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 transaction did John Klimowich report on Form 4 for CLBK?

The filing reports an acquisition on 09/05/2025 of 42.5356 shares at $15.01 as shown on the Form 4.

How many stock options does the Form 4 show for John Klimowich?

The filing lists four option grants totaling 229,425 options with exercise prices of $15.60, $15.94, $16.49, and $16.23 and expirations from 07/23/2029 to 03/03/2035.

Which plan-based indirect holdings are disclosed on the Form 4?

The Form 4 discloses indirect holdings attributed to a Stock-Based Deferral Plan (rabbi trust), 401(k), ESOP, SERP, SIM, and multiple Stock Award tranches.

Is there any signature or authorization noted on the Form 4?

Yes. The form is signed by /s/ Dennis E. Gibney, Power of Attorney with a signature date of 09/09/2025.

Does the Form 4 explain vesting schedules for awards and options?

Yes. Explanatory notes state vesting schedules and performance conditions for Stock Awards and vesting commencement dates for option grants as provided in the filing.