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

Rhea-AI Filing Summary

Columbia Financial, Inc. (CLBK) Form 4 summary: Director Daria Stacy-Walls reported transactions on 09/05/2025 pursuant to the Columbia Bank Stock Based Deferral Plan and prior equity awards. The filing shows 615.7006 stock units acquired at a reported price of $15.01 under the deferral plan (phantom stock to be settled in shares on distribution). Following the reported transactions, the reporting person beneficially owns 25,676.7296 shares indirectly via the plan. The filing also lists 8,048 common shares disposed and 3,207 common shares held indirectly from a stock award that vests on March 11, 2026.

Positive

• 615.7006 stock units were acquired under the Columbia Bank Stock Based Deferral Plan, indicating increased deferred equity alignment with shareholders
• Stock units are held in a rabbi trust and will be settled in shares upon distribution, providing a mechanism for future share issuance tied to compensation
• A time-vesting stock award of 3,207 shares is documented, vesting on March 11, 2026, showing ongoing retention incentives

Negative

• None.

Insights

Corporate Governance Expert

TL;DR Director acquired deferred stock units under a non-qualified plan, modestly increasing indirect ownership; transactions appear routine and disclosure-compliant.

The Form 4 documents a non-discretionary purchase of 615.7006 phantom stock units by the trustee of a rabbi trust under the Columbia Bank Stock Based Deferral Plan, priced at $15.01. These units are recorded as indirect ownership and will convert to shares upon distribution. The filing also reports a disposal of 8,048 common shares and an indirect holding of 3,207 shares from a time-vesting award. From a governance perspective, these are standard director compensation and deferral plan mechanics and do not, on their face, indicate governance changes or unusual related-party activity.

Compensation Analyst

TL;DR Transaction reflects routine executive/director compensation deferral and a one-year vesting award; limited immediate cash impact on the company.

The details show compensation delivered via a non-qualified stock-based deferral plan, with units held in a rabbi trust and settled in shares upon distribution. The presence of a time-vesting stock award (vests March 11, 2026) totaling 3,207 shares is noted. The acquisition price reported ($15.01) likely reflects valuation for the deferred units at purchase. These elements are consistent with standard equity compensation practice and indicate continued use of equity-based deferral and time-based vesting for director/participant pay.

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^*

Torres Daria Stacy-Walls

(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)
09/05/2025

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	09/05/2025		A		615.7006(1)	A	$15.01	25,676.7296	I	By Stock-Based Deferral Plan
Common Stock								8,048	D
Common Stock								3,207	I	By Stock Award IV(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	09/09/2025
	** 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 transactions were reported on the CLBK Form 4 for Daria Stacy-Walls?

The Form 4 reports the acquisition of 615.7006 stock units under the Columbia Bank Stock Based Deferral Plan at a reported price of $15.01, a disposal of 8,048 common shares, and an indirect holding of 3,207 shares from a stock award.

How many shares does the reporting person beneficially own after the reported transactions?

The filing states the reporting person beneficially owns 25,676.7296 shares indirectly following the reported transaction(s).

What is the nature of the acquired 615.7006 units on the Form 4?

The 615.7006 units represent phantom stock purchased by the trustee of a rabbi trust under the Columbia Bank Stock Based Deferral Plan, to be settled in shares upon distribution.

When do the reported stock awards vest?

The stock awards referenced in the filing vest in one year on March 11, 2026.

Was the Form 4 filing signed and when?

The filing includes a signature by Dennis E. Gibney by power of attorney dated 09/09/2025.