Columbia Financial exec awarded stock units
Klimowich John reported acquisition or exercise transactions in this Form 4 filing.
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Form Type
4
Rhea-AI Filing Summary
Klimowich John reported acquisition or exercise transactions in this Form 4 filing.
Columbia Financial, Inc. executive John Klimowich, SEVP & Chief Risk Officer, reported an automatic award of 37.1269 phantom common-stock units at $18.44 per unit under Columbia Bank’s stock-based deferral plan. These units are held in a rabbi trust and will be settled in shares to him later. The filing also updates his various direct and indirect holdings of common stock and stock options granted under the 2019 Equity Incentive Plan.
Insider Trade Summary
Grant/Award: 37.1269 shares
Grant/Award
1 txn
Insider
Klimowich John
Role
SEVP & Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 37.1269 | $18.44 | $684.62 |
| 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 | 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 — 8,299.8427 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 229,425 contracts (Direct);
Common Stock — 60,769 shares (Direct);
Common Stock — 17,130 shares (Indirect, By 401(k));
Common Stock — 7,620 shares (Indirect, By ESOP);
Common Stock — 7,051 shares (Indirect, By SERP);
Common Stock — 4,214 shares (Indirect, By SIM);
Common Stock — 13,781 shares (Indirect, By Stock Award II);
Common Stock — 12,068 shares (Indirect, By Stock Award III);
Common Stock — 11,723 shares (Indirect, By Stock Award IV)
Holdings Before and After:
Common Stock, 8,262.7158 to 8,299.8427 shares (Indirect, By Stock-Based Deferral Plan)
Footnotes (8)
- 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.
- F2. 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.
- F3. 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.
- F4. 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.
- F5. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable.
- F6. 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.
- F7. 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.
- F8. 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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Columbia Financial (CLBK) report in John Klimowich’s latest Form 4?
Columbia Financial reported that SEVP & Chief Risk Officer John Klimowich received 37.1269 phantom common-stock units at $18.44 each. The award was made under a stock-based deferral plan and the Form 4 also refreshed his reported stock and option holdings.
How many phantom stock units did John Klimowich receive from Columbia Financial (CLBK)?
John Klimowich received 37.1269 phantom stock units linked to Columbia Financial common stock. These units were purchased on a non-discretionary basis by a trustee under the Columbia Bank Stock Based Deferral Plan and will ultimately be settled in actual shares to him.
Was John Klimowich’s Columbia Financial (CLBK) Form 4 a stock purchase or an award?
The Form 4 reflects a grant or award acquisition, not an open-market purchase. Klimowich received 37.1269 phantom stock units through the Columbia Bank Stock Based Deferral Plan, with units credited to a rabbi trust and settled in shares upon distribution to him.
How are John Klimowich’s phantom stock units in Columbia Financial (CLBK) held?
The phantom stock units are held in a rabbi trust for Columbia Bank’s stock-based deferral plan. A trustee acquires the units on a non-discretionary basis, and the stock unit interests will be settled in Columbia Financial shares when they are ultimately distributed to Klimowich.
What other Columbia Financial (CLBK) equity holdings are updated in this Form 4?
The Form 4 updates Klimowich’s direct and indirect holdings of Columbia Financial common stock and multiple stock option grants. These options and awards were issued under the 2019 Equity Incentive Plan, with different tranches vesting over several years based on time and performance criteria.
What plan governs John Klimowich’s new Columbia Financial (CLBK) phantom stock units?
The phantom stock units were credited under the Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral arrangement. Units are represented as phantom stock, with future settlement in Columbia Financial common shares when distributions are made to Klimowich under the plan’s terms.
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