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

Rhea-AI Filing Summary

Columbia Financial, Inc. (CLBK) Form 4 filed for Jenifer White, EVP & CHRO. The filing reports a non-derivative acquisition on 08/22/2025 of 34.7029 phantom stock units under the Columbia Bank Stock Based Deferral Plan at an attributable price of $15.35 per share equivalent, which will be settled in shares upon distribution. The report also discloses various existing direct and indirect holdings: 3,352 shares direct, and multiple indirect holdings through ESOP, SERP, SIM and four named stock awards totaling thousands of shares. Separately, the filing lists outstanding stock options exercisable for a combined 28,147 shares with exercise prices from $15.94 to $20.54 and expirations in 2032–2035.

Insights

Securities Analyst

TL;DR: Routine insider acquisition via deferral plan and disclosure of existing equity and option holdings; no explicit material corporate action.

The filing documents an acquisition of phantom stock units under a non-qualified deferral plan and lists the reporting person’s mix of direct shares, indirect plan-based holdings, and multiple outstanding option grants. These are standard disclosures for a senior officer and HR executive and reflect compensation and deferred equity mechanisms rather than open-market purchases or dispositions. The presence of vested and unvested awards and multi-year option expirations is consistent with ongoing incentive programs.

Corporate Governance Expert

TL;DR: Disclosure is comprehensive for Section 16 purposes and shows compensation-related equity, not an unusual transaction.

The Form 4 clearly identifies the nature of indirect holdings (Stock Based Deferral Plan, ESOP, SERP, SIM, multiple stock awards) and option schedules with vesting references. The explanations state vesting schedules and performance-based conditions for certain awards, providing required transparency on potential future dilution and alignment of executive incentives with long-term performance.

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^*

Walden Jenifer White

(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)
	EVP & CHRO

3. Date of Earliest Transaction (Month/Day/Year)
08/22/2025

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	08/22/2025		A		34.7029(1)	A	$15.35	2,739.9446	I	By Stock-Based Deferral Plan
Common Stock								3,352	D
Common Stock								2,073	I	By ESOP
Common Stock								45	I	By SERP
Common Stock								14	I	By SIM
Common Stock								649	I	By Stock Award(2)
Common Stock								7,106	I	By Stock Award II(3)
Common Stock								6,964	I	By Stock Award III(4)
Common Stock								6,521	I	By Stock Award IV(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)	$20.54							10/31/2023(6)	10/31/2032	Common Stock	5,540		5,540	D
Stock Options (right to buy)	$15.94							05/01/2024(7)	05/01/2033	Common Stock	6,203		6,203	D
Stock Options (right to buy)	$16.49							03/06/2025(8)	03/06/2034	Common Stock	5,107		5,107	D
Stock Options (right to buy)	$16.23							03/03/2026(9)	03/03/2035	Common Stock	11,297		11,297	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, which vest in three equal annual installments commencing on October 31, 2023.

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 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.

4. 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.

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 3, 2028.

6. Stock Options granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan vest in three equal annual installments commencing on October 31, 2023.

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.

Remarks:

	/s/ Dennis E. Gibney, Power of Attorney	08/26/2025
	** 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 Jenifer White acquire according to the CLBK Form 4?

She acquired 34.7029 phantom stock units under the Columbia Bank Stock Based Deferral Plan on 08/22/2025 at an attributable price of $15.35.

How many CLBK shares does the reporting person directly own after the transaction?

The Form 4 reports 3,352 shares owned directly following the reported transactions.

What types of indirect holdings are disclosed for CLBK in this filing?

Indirect holdings include interests through the Stock Based Deferral Plan, ESOP, SERP, SIM and multiple named stock awards.

What stock options does the filing report for the reporting person?

Outstanding options exercisable for a combined 28,147 shares with exercise prices of $20.54, $15.94, $16.49, and $16.23 and expirations between 10/31/2032 and 03/03/2035.

Are any awards subject to performance-based vesting?

Yes. Some stock awards disclosed are partially or wholly subject to specified performance-based vesting criteria, per the explanations in the filing.