Columbia Financial director granted deferred stock units

Columbia Financial, Inc. director Noel R. Holland reported routine equity compensation activity and updated holdings.

Rhea-AI Filing Summary

Columbia Financial, Inc. director Noel R. Holland reported routine equity compensation activity and updated holdings. The main new transaction was an acquisition of 8.7082 shares of common stock equivalents at $19.57 per share through a stock-based deferral plan. These phantom stock units are held in a rabbi trust and will be settled in shares of stock upon distribution to Holland. Following this grant, his indirect holdings in the stock-based deferral plan increased to 10,048.6858 shares, alongside other indirect retirement-plan holdings and direct common stock. He also continues to hold fully vested stock options with an exercise price of $15.60 per share expiring in 2029.

Insights

Equity compensation analyst

Routine deferred stock award with updated option holdings.

Director Noel R. Holland received 8.7082 phantom stock units of Columbia Financial, Inc. at $19.57 per share through a stock-based deferral plan. This is coded as an acquisition (A), reflecting compensation rather than an open‑market trade.

The phantom stock resides in a rabbi trust under a non-qualified stock-based deferral plan and will be settled in shares upon distribution. Holland also reports fully vested stock options with a $15.60 exercise price on 83,294 underlying shares expiring in 2029, indicating a sizeable remaining derivative position.

The filing shows indirect and direct ownership lines, including retirement-plan and stock award holdings, without any reported open‑market buying or selling. Overall, this looks like standard director compensation and position reporting, with neutral implications for investors.

Insider Trade Summary

Grant/Award: 8.7082 shares

Grant/Award 5 txns

Insider Holland Noel R.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	8.7082	$19.57	$170.42
holding	Stock Options (right to buy)	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 10,048.6858 shares (Indirect, By Stock-Based Deferral Plan); Stock Options (right to buy) — 83,294 contracts (Direct); Common Stock — 36,726 shares (Direct); Common Stock — 46,280 shares (Indirect, By SEP-IRA); Common Stock — 2,952 shares (Indirect, Stock Award V)

Footnotes (3)

1. 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.
2. F2. Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan which vest in one year on March 12, 2027.
3. F3. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.

Key Figures

Deferred stock units granted: 8.7082 shares Grant price per unit: $19.57/share Deferred units after transaction: 10,048.6858 shares +5 more

8 metrics

Deferred stock units granted 8.7082 shares Common Stock via Stock-Based Deferral Plan at $19.57 on May 15, 2026

Grant price per unit $19.57/share Phantom stock units under Columbia Bank Stock Based Deferral Plan

Deferred units after transaction 10,048.6858 shares Indirect holding by Stock-Based Deferral Plan after acquisition

Stock options exercise price $15.60/share Stock Options (right to buy) on Columbia Financial common stock

Underlying option shares 83,294 shares Fully vested stock options expiring July 23, 2029

Indirect SEP-IRA holdings 46,280 shares Common Stock held indirectly by SEP-IRA as of May 15, 2026

Direct common stock holdings 36,726 shares Directly held Columbia Financial common stock as of May 15, 2026

Indirect stock award holdings 2,952 shares Common Stock held as Stock Award V, indirectly

Key Terms

phantom stock, rabbi trust, non-qualified stock-based deferral plan, Stock Options (right to buy), +1 more

5 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 Options (right to buy) financial

"Stock Options (right to buy) granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"

2019 Equity Incentive Plan financial

"Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan which vest in one year"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Noel R. Holland report in this Columbia Financial (CLBK) Form 4?

Noel R. Holland reported a routine equity compensation acquisition of 8.7082 phantom stock units at $19.57 per share. The filing also updates his indirect and direct common stock holdings and confirms a substantial, fully vested stock option position expiring in 2029.

How many deferred stock units did Noel R. Holland hold in Columbia Financial after the grant?

After the grant, Noel R. Holland held 10,048.6858 Columbia Financial deferred stock units through a stock-based deferral plan. These phantom stock interests will be settled in shares of common stock when distributions are made to him under the plan’s terms.

Were there any open-market buys or sells by Noel R. Holland in Columbia Financial stock?

The Form 4 shows no open-market purchases or sales by Noel R. Holland. The only coded transaction is an acquisition (A) of deferred stock units as compensation, while other entries simply report existing indirect and direct holdings in common stock and options.

What stock options does Noel R. Holland hold in Columbia Financial, Inc.?

Noel R. Holland holds fully vested stock options with a $15.60 exercise price on 83,294 underlying Columbia Financial common shares. These options were granted under the 2019 Equity Incentive Plan and are exercisable until their stated expiration date in July 2029.

How are the phantom stock units for Columbia Financial structured in this Form 4?

The phantom stock units are purchased on a non-discretionary basis by a trustee of a rabbi trust for a stock-based deferral plan. These units mirror Columbia Financial common stock and will be settled in actual shares when distributions are made to Noel R. Holland.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/19/2026 - 04:28 PM EDT Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Holland Noel R.

(Last) (First) (Middle)

19-01 ROUTE 208 NORTH

(Street)

FAIR LAWN NEW JERSEY 07410

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/15/2026		A		8.7082(1)	A	$19.57	10,048.6858	I	By Stock-Based Deferral Plan
Common Stock								36,726	D
Common Stock								46,280	I	By SEP-IRA
Common Stock								2,952	I	Stock Award V(2)

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(3)	07/23/2029	Common Stock	83,294		83,294	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 which vest in one year on March 12, 2027.

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

Remarks:

	/s/ Dennis E. Gibney, Power of Attorney	05/19/2026
	** 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.
* Form 4: SEC 1474 (03-26)