Columbia Financial (CLBK) CEO adds stock units, holds large option stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Columbia Financial, Inc. President & CEO Thomas J. Kemly reported a routine stock-based compensation change with no open‑market trading. On the date shown, an indirect award of 94.9254 shares of Common Stock was credited under a Stock-Based Deferral Plan at a reference price of $19.57 per share, increasing that plan balance to 69,330.9151 shares.
The filing also lists Kemly’s broader position, including 249,269 directly held common shares and multiple stock option grants under the 2019 Equity Incentive Plan, covering several hundred thousand underlying shares at exercise prices between $15.60 and $18.28 per share. These options have expiration dates ranging from 2029 through 2036 and are either fully vested or vest in scheduled annual installments.
Positive
- None.
Negative
- None.
Insider Trade Summary
15 transactions reported
Mixed
15 txns
Insider
Kemly Thomas J.
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 94.925 | $19.57 | $2K |
| 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 | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 69,330.915 shares (Indirect, By Stock-Based Deferral Plan);
Stock Options (right to buy) — 656,471 shares (Direct, null);
Common Stock — 249,269 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
Stock-based deferral grant: 94.9254 shares at $19.57
Deferral plan balance: 69,330.9151 shares
Direct common shares: 249,269 shares
+5 more
8 metrics
Stock-based deferral grant
94.9254 shares at $19.57
Indirect Common Stock award under Stock-Based Deferral Plan
Deferral plan balance
69,330.9151 shares
Total Common Stock units after grant in Stock-Based Deferral Plan
Direct common shares
249,269 shares
Directly held Columbia Financial common stock following transactions
Largest option grant
656,471 shares at $15.60
Stock Options (right to buy) expiring July 23, 2029
Option grant 1
91,477 shares at $18.28
Stock Options expiring March 2, 2036, direct ownership
Option grant 2
94,749 shares at $16.23
Stock Options expiring March 3, 2035, direct ownership
Option grant 3
37,168 shares at $16.49
Stock Options expiring March 6, 2034, direct ownership
Option grant 4
37,894 shares at $15.94
Stock Options expiring May 1, 2033, direct ownership
Key Terms
phantom stock, rabbi trust, Stock Based Deferral Plan, 2019 Equity Incentive Plan, +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.
Stock Based Deferral Plan financial
"…Bank's rabbi trust maintained in connection with the Columbia Bank Stock Based Deferral Plan, a non-qualified stock-based deferral plan."
2019 Equity Incentive Plan financial
"Stock Awards granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive plan…"
Stock Options (right to buy) financial
"Stock Options (right to buy) granted pursuant to the Columbia Financial, Inc. 2019 Equity Incentive Plan…"
FAQ
What insider transaction did Columbia Financial (CLBK) CEO Thomas J. Kemly report?
Thomas J. Kemly reported an acquisition of 94.9254 shares of Columbia Financial common stock through a stock-based deferral plan. This grant is compensation-related, not an open‑market trade, and increased his deferral plan balance to 69,330.9151 shares.
Was the Columbia Financial (CLBK) Form 4 a stock purchase or sale?
The Form 4 does not show any open‑market purchase or sale of Columbia Financial stock. It records a grant of 94.9254 shares under a stock-based deferral plan and updates Kemly’s existing direct and indirect holdings and stock option positions.
What stock options for Columbia Financial (CLBK) are reported for the CEO?
The filing lists several stock option grants on Columbia Financial common stock, including one covering 656,471 underlying shares at a $15.60 exercise price expiring on July 23, 2029. Other options have exercise prices between $15.94 and $18.28 with expirations through 2036.
What is the Columbia Bank Stock Based Deferral Plan mentioned in the CLBK Form 4?
The Columbia Bank Stock Based Deferral Plan is a non‑qualified stock-based deferral program where phantom stock is purchased by a rabbi trust. These stock unit interests are ultimately settled in Columbia Financial shares when distributions are made to the reporting person.
Are the Columbia Financial (CLBK) stock options in this filing vested?
Some reported stock options are fully vested and exercisable, while others vest in three approximately equal annual installments. For example, certain options begin vesting on dates such as March 6, 2025, March 3, 2026, and March 2, 2027 under the 2019 Equity Incentive Plan.