Columbia Financial (CLBK) Form 4: Klimowich Adds Deferred Units, Large Option Holdings
Rhea-AI Filing Summary
John Klimowich, SEVP & Chief Risk Officer of Columbia Financial, Inc. (CLBK), reported a purchase on 09/19/2025 of 41.1644 phantom stock units at $15.51 under the Columbia Bank Stock Based Deferral Plan, which will be settled in shares upon distribution. The filing shows indirect beneficial ownership categories including 7,848.6975 shares held indirectly and several plan-based holdings: 60,769 shares (disposed), 17,130 via 401(k), 7,620 via ESOP, 7,051 via SERP, 4,214 via SIM, and multiple stock awards totaling 39,672 shares across award tranches. Klimowich also holds exercisable stock options totaling 229,425 options across four grants with exercise prices from $15.60 to $16.49.
Positive
- Acquisition of 41.1644 phantom units at $15.51 under the Stock Based Deferral Plan, reinforcing executive equity ownership
- Significant exercisable stock option position (188,235 options exercisable from 07/23/2020) aligning management incentives with shareholder value
- Multiple plan-based holdings disclosed (401(k), ESOP, SERP, SIM and stock awards) showing diversified long-term compensation structure
Negative
- None.
Insights
TL;DR: Insider acquired a small number of deferred units and maintains large option holdings, indicating ongoing equity alignment with shareholders.
The 09/19/2025 acquisition of 41.1644 phantom units at $15.51 is a routine, non-discretionary purchase under a deferral plan and modest in absolute size. More material are the outstanding stock options—188,235 exercisable options from 2020 and additional option grants totaling 41,190—representing a significant long-term equity exposure for the officer. These option positions could be dilutive if exercised and align compensation with share performance. No open-market dispositions of common stock are reported in this filing.
TL;DR: Filing reflects standard executive compensation mechanics rather than an unusual corporate governance event.
The report documents plan-based holdings (deferral plan, 401(k), ESOP, SERP, SIM) and multi-year equity awards with time- and performance-based vesting. Vesting schedules and performance contingencies are disclosed in the explanations, which is consistent with governance best practices for retention and performance alignment. The power-of-attorney signature indicates administrative filing by counsel, not an unusual governance occurrence. No compensatory departures, accelerated vesting, or related-party transactions are disclosed here.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 41.164 | $15.51 | $638.46 |
| 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 (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. 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. 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 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 May 1, 2024. 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.
