Columbia Financial (CLBK) EVP adjusts stock awards, options and phantom units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Columbia Financial, Inc. executive Mayra Liseth Rinaldi, EVP of Corporate Governance & Culture, reported routine updates to her equity holdings. The filing shows that 6,460 shares of performance-based restricted stock were forfeited back to the company after performance goals were not fully met, while 1,292 shares vested, as described in the footnotes.
In a separate line item, 739 common shares were disposed of at $19.25 per share to cover tax obligations, a non-market transaction coded as tax withholding. After these changes, she directly holds 20,169 common shares and has additional indirect holdings through plans such as ESOP and 401(k). She also retains multiple stock option grants, including 49,412 options exercisable at $15.60 per share expiring in 2029, plus newer options at higher exercise prices and 4,756 phantom stock units that will be settled in cash.
Positive
- None.
Negative
- None.
Insider Trade Summary
16 transactions reported
Mixed
16 txns
Insider
Rinaldi Mayra Liseth
Role
EVP, Corp Governance & Culture
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 6,460 | $0.00 | -- |
| Tax Withholding | Common Stock | 739 | $19.25 | $14K |
| 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 | Phantom Stock Unit | -- | -- | -- |
| 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 — 20,908 shares (Direct, null);
Stock Options (right to buy) — 49,412 shares (Direct, null);
Phantom Stock Unit — 4,756 shares (Indirect, Deferred Stock Unit Plan);
Common Stock — 7,249 shares (Indirect, By 401(k))
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, 1,292 shares would vest and 6,460 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 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. One phantom stock unit is the economic equivalent of one share of CLBK Common Stock. Phantom stock units were granted under the Columbia Financial, Inc. 2026 Phantom Stock Plan and will be settled in cash upon distribution. On the settlement date, phantom stock units will be payable in cash. The cash value will be calculated, in accordance with the Columbia Financial, Inc. 2026 Phantom Stock Plan, based on the closing stock price of the Company's Common Stock on the determination date.
Key Figures
Restricted shares forfeited: 6,460 shares
Restricted shares vested: 1,292 shares
Tax withholding shares: 739 shares at $19.25
+4 more
7 metrics
Restricted shares forfeited
6,460 shares
Performance-based award forfeiture determined on May 1, 2026
Restricted shares vested
1,292 shares
Portion of May 1, 2023 grant that met performance objectives
Tax withholding shares
739 shares at $19.25
Common stock delivered to satisfy tax liability
Direct common shares after transactions
20,169 shares
Direct ownership position following Form 4 transactions
Largest option grant
49,412 options at $15.60
Stock options expiring July 23, 2029, fully vested
Additional option grant
7,519 options at $15.94
Stock options expiring May 1, 2033
Phantom stock units
4,756 units
Cash-settled units, each equal to one CLBK share
Key Terms
performance-based restricted stock, rule 16b-3(c), phantom stock unit, Deferred Stock Unit Plan, +2 more
6 terms
performance-based restricted stock financial
"granted to the reporting person on May 1, 2023 that were eligible to vest based on certain performance objectives"
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.
phantom stock unit financial
"One phantom stock unit is the economic equivalent of one share of CLBK Common Stock."
Deferred Stock Unit Plan financial
"nature_of_ownership": "Deferred Stock Unit Plan""
SERP financial
"nature_of_ownership": "By SERP""
A Supplemental Executive Retirement Plan (SERP) is a company-funded benefit that promises extra retirement pay to selected senior executives beyond regular pension or savings plans. Think of it as a bespoke top-up savings account the employer guarantees for key leaders; it matters to investors because SERPs create future financial obligations, influence executive retention and pay incentives, and can signal how a company prioritizes management costs versus shareholder returns.
ESOP financial
"nature_of_ownership": "By ESOP""
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
FAQ
What did Columbia Financial (CLBK) EVP Mayra Rinaldi report in this Form 4?
She reported updates to her equity holdings, including forfeiture of performance-based restricted stock and tax-withholding share dispositions. The filing also details her remaining direct shares, indirect plan holdings, stock options and phantom stock units tied to Columbia Financial common stock.
What are the phantom stock units reported for Columbia Financial (CLBK)?
The EVP holds 4,756 phantom stock units, each economically equivalent to one CLBK common share. These units were granted under the 2026 Phantom Stock Plan and will be settled in cash based on the closing stock price on a specified determination date when paid out.