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

Rhea-AI Filing Summary

Form 4 filed for Columbia Financial, Inc. (CLBK) shows Jenifer Walden White, listed as an EVP & CHRO and director, reporting stock and option holdings and an acquisition on 09/19/2025. The filing reports an acquisition of 34.345 phantom stock units at a reported price of $15.51 under the Companys stock-based deferral plan. Following the transaction, the filing lists total beneficial ownership components across direct and indirect holdings, including 3,352 shares direct, multiple indirect holdings via ESOP, SERP, SIM and several stock awards, and 2,809.7786 units reported as indirect beneficial ownership after the acquisition. The report also discloses outstanding stock options exercisable into 5,540, 6,203, 5,107 and 11,297 shares with exercise prices of $20.54, $15.94, $16.49 and $16.23, respectively.

Positive

• Acquisition recorded: Reporting person purchased 34.345 phantom stock units at $15.51 under the stock-based deferral plan, increasing reported holdings

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider purchased phantom stock units and retains multiple option grants and awards, indicating continued compensation alignment with equity.

The Form 4 documents a non-derivative acquisition of 34.345 phantom stock units at $15.51 under the companys stock-based deferral plan, increasing reported indirect holdings to 2,809.7786 units in that category. The reporting person also holds substantial option positions exercisable into a total of 28,147 common shares across four option grants, with exercise prices ranging from $15.94 to $20.54. This is a routine insider compensation and deferral activity rather than a transaction implying a significant change in control or liquidity event. All observations are strictly limited to the filings disclosures.

Corporate Governance Expert

TL;DR: Transaction appears to be routine compensation-related acquisition; multiple equity awards and deferrals remain outstanding.

The report indicates the reporting person is an executive officer and director and that the acquisition was made through the trustee of a rabbi trust as part of the Columbia Bank Stock Based Deferral Plan. The filing itemizes direct and indirect holdings including ESOP and SERP allocations and several performance- and time-based stock awards. The structure and explanations align with standard executive compensation arrangements; no departures, sales, or unusual transfers are disclosed in this filing.

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)
09/19/2025

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	09/19/2025		A		34.345(1)	A	$15.51	2,809.7786	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	09/23/2025
	** 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 transaction did Jenifer Walden White report on the CLBK Form 4?

The filing reports an acquisition on 09/19/2025 of 34.345 phantom stock units at a price of $15.51 under the stock-based deferral plan.

What is Jenifer Walden White's relationship to Columbia Financial, Inc. (CLBK)?

She is reported as an EVP & CHRO and a Director of Columbia Financial, Inc.

How many stock options does the reporting person hold and at what exercise prices?

The Form 4 lists options exercisable into 5,540, 6,203, 5,107, and 11,297 shares with exercise prices of $20.54, $15.94, $16.49, and $16.23, respectively.

Are there indirect holdings reported and via which plans?

Yes. Indirect holdings are reported via the Stock-Based Deferral Plan, ESOP, SERP, SIM, and several stock awards described in the filing.

Does the filing indicate any share dispositions or sales?

No. The filing discloses an acquisition and existing holdings; it does not report any dispositions or sales.