[Form 4] Columbia Financial, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Columbia Financial, Inc. (CLBK) director Lucy Sorrentini reported stock-based award activity on 10/03/2025. The filing shows a purchase of 160.4822 phantom stock units at a price of $14.89 under the Columbia Bank Stock Based Deferral Plan; those units are held indirectly in a rabbi trust and will be settled in shares upon distribution. After the reported transactions, the reporting person beneficially owns 7,373.456 shares (indirect), plus disclosure of 11,664 shares disposed and 3,207 shares held indirectly from a stock award. Separately, stock awards granted under the 2019 Equity Incentive Plan vest in one year on 03/11/2026. The report is signed under power of attorney and filed on 10/07/2025.

Positive

• Use of stock-based deferral plan shows alignment of director compensation with shareholder equity
• Clear vesting schedule for awards (03/11/2026) provides transparent timing for future share settlement

Negative

• Indirect holdings concentrated (beneficial ownership reported as 7,373.456 shares indirect) may delay public disclosure of exact share transfers
• Recent disposition of 11,664 shares reduces immediate director-held common stock, which could affect voting alignment near-term

Insights

Corporate Governance Analyst

Director acquired phantom units via a deferral plan and holds vested awards that vest on 03/11/2026.

The transaction is a non-derivative acquisition of 160.4822 phantom stock units at $14.89, recorded as indirect ownership through a rabbi trust tied to the Columbia Bank Stock Based Deferral Plan. Phantom units are contractual rights that will convert to shares on distribution.

Key dependencies include the plan's distribution schedule and the 03/11/2026 vesting of stock awards; investors should note timing of settlement and any future disclosures about distributions within the next year.

Executive Compensation Specialist

Deferral and equity award activity reflects routine director compensation mechanics, not open-market trading.

The phantom units were purchased on a non-discretionary basis by the plan trustee and will be settled in shares upon distribution, indicating compensation deferral rather than a market purchase. The filing also lists 11,664 shares disposed and 3,207 shares held indirectly from a stock award.

Monitor the 03/11/2026 vesting date for potential share settlement and any subsequent Form 4 entries showing conversion or disposition within 12 months.

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^*

Sorrentini Lucy

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/03/2025

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	10/03/2025		A		160.4822(1)	A	$14.89	7,373.456	I	By Stock-Based Deferral Plan
Common Stock								11,664	D
Common Stock								3,207	I	By 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

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 11, 2026.

Remarks:

	/s/ Dennis E. Gibney, Power of Attorney	10/07/2025
	** 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 did Lucy Sorrentini report on the Form 4 for CLBK?

The Form 4 reports an acquisition of 160.4822 phantom stock units at $14.89 on 10/03/2025, indirect beneficial ownership of 7,373.456 shares, a disposition of 11,664 shares, and 3,207 shares held indirectly from a stock award.

What is the nature of the 160.4822 units purchased?

They are phantom stock units purchased by the trustee of a rabbi trust under the Columbia Bank Stock Based Deferral Plan and will be settled in shares upon distribution.

When do the disclosed stock awards vest?

Stock awards granted under the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in one year on 03/11/2026.

Was the Form 4 filed by the reporting person or a group?

The form was filed by one reporting person; the signature is by power of attorney and dated 10/07/2025.

Does the filing indicate open-market purchases or compensation-related transactions?

The acquisition is recorded as compensation-related: a purchase by the plan trustee for the Stock Based Deferral Plan (non-discretionary), not an open-market trade.