Columbia Financial (CLBK) updates Klimowich stock and option holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Columbia Financial, Inc. executive John Klimowich, SEVP & Chief Risk Officer, reported updated equity holdings and a small compensation-related stock award. He received an indirect grant of 32.8198 shares of Common Stock at $20.86 per share through the Columbia Bank Stock Based Deferral Plan, where phantom stock units will be settled in shares upon distribution.
The filing also lists multiple indirect holdings in stock awards, retirement and employee plans, plus 63,662 shares of Common Stock held directly. Klimowich continues to hold several blocks of stock options on Columbia Financial common stock with exercise prices between $15.60 and $18.28 per share and expirations from 2029 to 2036, many of which are fully vested or vest in scheduled annual installments.
Positive
- None.
Negative
- None.
Insider Trade Summary
14 transactions reported
Mixed
14 txns
Insider
Klimowich John
Role
SEVP & Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 32.82 | $20.86 | $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 | 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 — 9,212.587 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 188,235 shares (Direct, null);
Common Stock — 63,662 shares (Direct, null)
Footnotes (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. 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. 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. 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. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan are fully vested and exercisable. 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. 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. 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.
Key Figures
Deferral plan grant: 32.8198 shares at $20.86
Indirect deferral holdings: 9,212.5867 shares
Direct common stock: 63,662 shares
+5 more
8 metrics
Deferral plan grant
32.8198 shares at $20.86
Indirect Common Stock award via Stock-Based Deferral Plan on June 26, 2026
Indirect deferral holdings
9,212.5867 shares
Total Common Stock units following transaction in Stock-Based Deferral Plan
Direct common stock
63,662 shares
Common Stock held directly after reported update
Largest option grant
188,235 underlying shares at $15.60
Stock Options (right to buy) expiring July 23, 2029
Option grant 1
20,227 underlying shares at $18.28
Stock Options expiring March 2, 2036
Option grant 2
20,310 underlying shares at $16.23
Stock Options expiring March 3, 2035
Option grant 3
8,850 underlying shares at $16.49
Stock Options expiring March 6, 2034
Option grant 4
12,030 underlying shares at $15.94
Stock Options expiring May 1, 2033
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) ... underlying security title "Common Stock""
2019 Equity Incentive Plan financial
"Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan"
FAQ
What insider transaction did Columbia Financial (CLBK) report for John Klimowich?
Columbia Financial reported that SEVP & Chief Risk Officer John Klimowich received an indirect grant of 32.8198 common shares at $20.86 per share under a stock-based deferral plan. The filing mainly updates his existing share and option holdings across several plans.
What is the Columbia Bank Stock Based Deferral Plan mentioned in the CLBK filing?
The Columbia Bank Stock Based Deferral Plan is a non-qualified stock-based deferral plan where phantom stock units are purchased in a rabbi trust. According to the filing, these stock unit interests are settled in actual shares of Columbia Financial stock upon distribution to the reporting executive.
What stock option awards does John Klimowich hold in Columbia Financial (CLBK)?
Klimowich holds several stock option grants on Columbia Financial common stock with exercise prices from $15.60 to $18.28. Underlying share amounts range from 8,850 to 188,235 shares, with expiration dates between July 2029 and March 2036, and vesting based on time and performance criteria.
Are John Klimowich’s Columbia Financial (CLBK) stock options fully vested?
One large option grant under the 2019 Equity Incentive Plan is fully vested and exercisable. Other option awards vest in three approximately equal annual installments, commencing on specific dates in 2025, 2026, and 2027, according to the vesting schedules described in the filing’s footnotes.
Is the reported Columbia Financial (CLBK) Form 4 transaction a market buy or sell?
The Form 4 does not show any open-market buys or sells. Instead, it reports a grant-type acquisition of 32.8198 shares under a stock-based deferral plan and updates various direct and indirect holdings, including stock awards, employee plans, and stock options outstanding.