Columbia Financial SEVP adds stock-based deferral units
Columbia Financial, Inc. executive John Klimowich, SEVP & Chief Risk Officer, reported a small compensation-related acquisition of common stock on May 15, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Columbia Financial, Inc. executive John Klimowich, SEVP & Chief Risk Officer, reported a small compensation-related acquisition of common stock on May 15, 2026. A total of 34.9832 shares of Columbia Financial common stock at $19.57 per share were credited under the Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan where phantom stock purchased on a non-discretionary basis by the plan’s rabbi trust will be settled in shares upon distribution.
Following this grant, Klimowich indirectly holds 9,112.6836 shares through the Stock-Based Deferral Plan and has additional indirect holdings in various stock award programs, ESOP, SERP and 401(k) accounts, plus 63,662 common shares held directly. He also holds several stock option grants, including 188,235 options with a $15.60 exercise price expiring on July 23, 2029, as well as smaller option awards with exercise prices between $15.94 and $18.28 expiring between 2033 and 2036. The filing reflects routine equity compensation and updated holdings rather than any open-market buying or selling.
Insider Trade Summary
Grant/Award: 34.9832 shares
Grant/Award
14 txns
Insider
Klimowich John
Role
SEVP & Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 34.9832 | $19.57 | $684.62 |
| 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 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 9,112.6836 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 249,652 contracts (Direct);
Common Stock — 63,662 shares (Direct);
Common Stock — 17,130 shares (Indirect, By 401(k));
Common Stock — 8,689 shares (Indirect, By ESOP);
Common Stock — 7,627 shares (Indirect, By SERP);
Common Stock — 4,214 shares (Indirect, By SIM);
Common Stock — 10,971 shares (Indirect, By Stock Award III);
Common Stock — 11,723 shares (Indirect, By Stock Award IV);
Common Stock — 11,906 shares (Indirect, By Stock Award V)
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 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.
- F3. 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.
- 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 2, 2029.
- 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 March 6, 2025.
- F7. 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.
- F8. 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
Deferral plan grant: 34.9832 shares at $19.57
Deferral plan holdings: 9,112.6836 shares
Direct common shares: 63,662 shares
+5 more
8 metrics
Deferral plan grant
34.9832 shares at $19.57
Phantom stock credited on May 15, 2026
Deferral plan holdings
9,112.6836 shares
Stock-Based Deferral Plan balance after grant
Direct common shares
63,662 shares
Direct ownership after reported transactions
Largest option grant
188,235 options at $15.60
Exercise price; options expire July 23, 2029
Option grant 1
12,030 options at $15.94
Expires May 1, 2033
Option grant 2
8,850 options at $16.49
Expires March 6, 2034
Option grant 3
20,310 options at $16.23
Expires March 3, 2035
Option grant 4
20,227 options at $18.28
Expires March 2, 2036
Key Terms
phantom stock, rabbi trust, non-qualified stock-based deferral plan, Stock Based Deferral Plan, +2 more
6 terms
phantom stock financial
"Represents phantom stock purchased, on a non-discretionary basis, by the trustee of the Bank's rabbi trust"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
rabbi trust financial
"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 rabbi trust is a special account a company sets up to hold promised future pay for executives, like bonus or retirement money, so those employees can see there are funds earmarked for them. It matters to investors because it signals the company’s commitment to keep key people, but the money is still part of the company’s assets and can be claimed by creditors if the company goes bankrupt—think of it as a labeled jar that isn’t completely off-limits.
non-qualified stock-based deferral plan financial
"Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan"
Stock Based Deferral Plan financial
"Stock unit interests under the Columbia Bank Stock Based Deferral Plan will be settled in shares of stock"
Equity Incentive Plan financial
"Stock Options 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.
performance-based vesting criteria financial
"which vest upon achievement of certain specified performance-based vesting criteria"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Columbia Financial (CLBK) executive John Klimowich report on this Form 4?
John Klimowich reported a small equity compensation grant under a stock-based deferral plan. He received 34.9832 Columbia Financial common shares at $19.57 per share, credited as phantom stock units that will later be settled in actual shares upon distribution.
Was the Columbia Financial Form 4 transaction an open-market stock purchase or sale?
The transaction was not an open-market trade. It was coded as a grant or award acquisition (code A) within a non-qualified stock-based deferral plan, where phantom stock is purchased on a non-discretionary basis by a trustee rather than through Klimowich’s discretionary market trading.
What direct Columbia Financial common stock holdings does Klimowich report after this filing?
Klimowich reports direct ownership of 63,662 Columbia Financial common shares. In addition to these directly held shares, he lists several indirect positions through stock award programs, employee benefit plans, and the Stock-Based Deferral Plan that together represent additional exposure to CLBK stock.
What Columbia Financial stock options does Klimowich hold according to this Form 4?
The filing lists multiple stock option awards under the 2019 Equity Incentive Plan, including 188,235 options with a $15.60 exercise price expiring July 23, 2029. Additional grants cover 12,030, 8,850, 20,310 and 20,227 underlying shares with exercise prices between $15.94 and $18.28.
How do phantom stock and the Columbia Bank Stock Based Deferral Plan work for CLBK executives?
Under the Columbia Bank Stock Based Deferral Plan, a rabbi trust purchases phantom stock interests on a non-discretionary basis. These stock unit interests track Columbia Financial’s share value and are intended to be settled in actual common shares when the executive receives a distribution from the plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Accepted by SEC EDGAR
Learn about SEC filing dates