Columbia Financial (CLBK) risk chief receives new phantom stock award

Rhea-AI Filing Summary

Columbia Financial, Inc. executive John Klimowich, SEVP & Chief Risk Officer, reported an indirect acquisition of 589.1476 shares of Common Stock-equivalent phantom stock at $17.4800 per unit on March 13, 2026. The units were credited under a Columbia Bank stock-based deferral plan and are held in a rabbi trust on a non-discretionary basis by the plan trustee.

After this award, his related deferral-plan balance stands at 8926.8984 stock unit interests, which will be settled in shares upon distribution. Separate from this, he holds direct stock options covering 188235, 12030, 8850, 20310 and 20227 shares of Common Stock at exercise prices between $15.6000 and $18.2800, with expirations from 2029 through 2036.

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

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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^*

Klimowich John

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEVP & Chief Risk Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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	03/13/2026		A		589.1476(1)	A	$17.48	8,926.8984	I	By Stock-Based Deferral Plan
Common Stock								61,464	D
Common Stock								17,130	I	By 401(k)
Common Stock								7,620	I	By ESOP
Common Stock								7,051	I	By SERP
Common Stock								4,214	I	By SIM
Common Stock								13,781	I	By Stock Award II(2)
Common Stock								10,971	I	By Stock Award III(3)
Common Stock								11,723	I	By Stock Award IV(4)
Common Stock								11,906	I	By Stock Award V(5)

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(6)	07/23/2029	Common Stock	188,235		188,235	D
Stock Options (right to buy)	$15.94							05/01/2024(7)	05/01/2033	Common Stock	12,030		12,030	D
Stock Options (right to buy)	$16.49							03/06/2025(8)	03/06/2034	Common Stock	8,850		8,850	D
Stock Options (right to buy)	$16.23							03/03/2026(9)	03/03/2035	Common Stock	20,310		20,310	D
Stock Options (right to buy)	$18.28							03/02/2027(10)	03/02/2036	Common Stock	20,227		20,227	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, 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.

3. 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.

4. 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.

5. 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 2, 2029.

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

7. 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.

8. 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.

9. 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.

10. 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.

Remarks:

	/s/ Dennis E. Gibney, Power of Attorney	03/17/2026
	** 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.
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FAQ

What did Columbia Financial (CLBK) disclose in John Klimowich’s latest Form 4?

Columbia Financial reported that executive John Klimowich indirectly acquired 589.1476 phantom stock units at $17.4800 on March 13, 2026. These units were credited under a stock-based deferral plan and will eventually be settled in shares upon distribution to him.

Is John Klimowich’s Form 4 for CLBK a stock purchase or a compensation award?

The filing reflects a compensation-related award, not an open-market stock purchase. Klimowich received 589.1476 phantom stock units credited under a Columbia Bank stock-based deferral plan, with the trustee acquiring the units on a non-discretionary basis for his account.

How many Columbia Financial (CLBK) deferral-plan units does John Klimowich hold after this transaction?

Following the reported award, John Klimowich’s balance under the Columbia Bank stock-based deferral plan totals 8926.8984 stock unit interests. According to the disclosure, these units are designed to be settled in shares of Columbia Financial common stock upon distribution to him.

What stock option positions for CLBK does John Klimowich report in this Form 4?

Klimowich reports several outstanding stock option grants on Columbia Financial common stock, including positions over 188235, 12030, 8850, 20310 and 20227 underlying shares. Exercise prices range from $15.6000 to $18.2800, with expirations between 2029 and 2036.

Are the phantom stock units in the CLBK filing held directly by John Klimowich?

No. The phantom stock units are held indirectly through a rabbi trust for a stock-based deferral plan. The trustee purchases the units on a non-discretionary basis, and they are scheduled to be settled in shares of Columbia Financial common stock upon future distribution.

Does the Form 4 for Columbia Financial (CLBK) show any insider share sales by John Klimowich?

The Form 4 does not report any share sales. It shows an indirect acquisition of 589.1476 phantom stock units under a stock-based deferral plan, along with updated holdings of common stock and various stock option grants with future expiration dates.